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LDJ Capital Founder & Chairman David Drake Stands Behind 30K Bitcoin Prediction For 2018

On March 21st, David Drake of LDJ Capital told Bloomberg Technology that we could expect to see Bitcoin hitting $30,000 by the end of 2018.

Given a few weeks to rethink his comments, Drake continues to stand firm as ever on his prediction.

If you’re unfamiliar with David Drake it’s important to point out that this isn’t just some hedge fund manager making an off-the-cuff prediction. Drake is a renowned and well respected investor with over a quarter century's experience in investments revolving around technology, real estate, telecommunications, the energy sector and of course major blockchain and cryptocurrency investments. Drake's investments currently have over 50 global directors that maintain relations with institutions & family offices with over $1.5 trillion in assets.

On March 21st Blake told Bloomberg:

“The US is the biggest market in the world and right now asia is really hot for cryptocurrencies. But I’d say this year is a cryptocurrency Wall Street time. And like [Jack] Dorsey said, we said that before as well. We think cryptocurrency on the bitcoin will be worth $30,000 at the year end — it is limited.”

Blake disagreed when asked about Jack Dorsey’s claim that Bitcoin would be the sole coin for the internet in about 10 years. He feels there are simply too many coins available with great solutions.

Recently, in an interview with the Bitcoinist website, Blake stood by his $30,000 price prediction for Bitcoin. The interview may be read in full here.

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Jack Taylor is a freelance journalist who has contributed to many award winning media outlets on a wide range of topics regarding trending technologies, cryptocurrency, blockchain & digital privacy.
Tennessee