IBM VP of Blockchain and Digital Currencies Jesse Lund is bullish on Bitcoin – so bullish, in fact, that he set a long-term $1 million price target.
The IBM executive pointed out that the higher the price of a crypto asset, the more utility it has. Therefore, he thinks people should focus less on the moving prices of crypto assets and more on their utility.
“If the price of Bitcoin were higher, there would be more liquidity on the network, we could be having a really different discussion with banks right now,” he says.
He adds that speculators are hurting the value of cryptocurrencies “because they’re thinking about it…
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