Snapchat's first investor Jeremy Liew: Bitcoin will reach $500,000 by 2030

Bitcoin prices are soaring as a flood of new money pours in. As new money pours in, it looks like mainstream investors are embracing Bitcoin, which is seen as a safe haven against a declining world economy and an asset class that has outperformed many traditional investment funds.

Snapchat’s first investor says 1 BTC will be worth $500,000 by 2030.

As reported in February of this year, many mainstream investors have heard about the huge growth that the asset has experienced between 2016 and 2017. The price of Bitcoin is still rising today, and traditional investors continue to hear more and more about Bitcoin’s market achievements.

For example, there has been a mainstream media frenzy over Bitcoin’s price growth in recent days as the price of Bitcoin has been rising higher and higher. This has created a snowball effect where traditional and institutional investors are beginning to support Bitcoin as a new asset class because they have heard how bullish Bitcoin is right now.

Just recently, Jeremy Liew, the first investor in Snapchat, said in a statement to Business Insider that Bitcoin is undervalued. He also explained why he believes Bitcoin will be worth $500,000 by 2030. Liew believes that the scale of global remittances, economic uncertainty and the increase in mobile phone penetration are all factors driving the rise in Bitcoin prices.

Liew explained:

“Bitcoin is already very simple to buy and hold, and as the asset continues to mature, we will continue to see more and more products developed and deployed around Bitcoin.”

Bitcoin is the last safeguard against tyranny and value destruction

As reported by 8Bit last week, NBA Warriors owner and Facebook investor Chamath Palihapitiya told his 67,000 Twitter followers that Bitcoin is a defense against value destruction. Palihapitiya has been advocating for Bitcoin for some time, having written an article for Bloomberg in 2013 about the innovative nature of Bitcoin.

Palihapitiya explained at the time:

“I’ve been telling my friends that it’s worth putting 1% of your assets into Bitcoin — just like I do. I call it ‘idiot insurance.’ As the 2008 financial crisis proved, idiots can destroy the world.”

Last week, the venture capitalist told his Twitter followers:

“Let me reiterate my belief in Bitcoin. Bitcoin is the ultimate insurance policy against authoritarianism, monetary restriction, and other forms of value destruction.”

It's hard for investors to ignore this redistribution of financial power

Investors are no doubt seeing the price headlines in Time Magazine, Bloomberg, and the New York Times. In addition to positive statements from successful entrepreneurs like Liew and Palihapitiya, mainstream investors have certainly heard about Bitcoin in some form.

There is no doubt that new money is entering the Bitcoin and other cryptocurrency markets. Investors can’t ignore an asset that has grown into a massive market valued at more than $25 billion while traditional markets struggle. Moreover, those who were early Bitcoin investors like Palihapitiya know that the concept of cryptocurrency is disrupting financial enterprises.

Palihapitiya concluded:

“Bitcoin will redistribute economic power to those who oppose the centralized institutions of a few.”