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Bitcoin expert names 2 reasons why the price will continue to rise

Crypto expert Philipp Sandner

Crypto expert Philipp Sandner

Frankfurt School Blockchain Center

For a Bitcoin you currently pay around 40,000 euros. Five years ago, the cryptocurrency was worth 500 euros.

Despite this enormous incline, Philipp Sandner said in an interview with Business Insider that the Bitcoin price will continue to grow. Sandner is one of the most renowned crypto experts in the country and is head of the blockchain center at the Frankfurt School of Finance.

With BI + you can find out which two reasons the expert gives for his assessment, why the Bitcoin price is currently fluctuating so strongly and under what price the crypto currency will never fall, according to Sandner.

In mid-May 2010, the programmer Laszlo Hanyecz offered 10,000 Bitcoins for two pizzas in an Internet forum. Two big pizzas, as he emphasized in the chat, so that he also “has something left for the next few days”. A short time later, on May 22nd, the crypto-coins were actually exchanged for the pizzas. It was the first ever documented Bitcoin transaction.

At the time, Havecz paid around 35 euros for his meal, since a Bitcoin cost 0.003 cents at the time. Today a Bitcoin is worth almost 40,000 euros and Hanvecz would therefore get around 400 million euros for 10,000 Bitcoins these days – that is, significantly more than two large pizzas.

In the past three years alone, Bitcoin has increased by more than 600 percent and briefly cracked 50,000 euros in April. A month ago, the crypto currency landed again at around 25,000 euros, now attempts are being made again to exceed the 40,000 mark in the long term.

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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