The CEO of Lolli has joined a long list of people who believe that the Bitcoin halving isn’t already priced in and BTC will surge after the event.
The entire crypto market is anticipating Bitcoin halving. The event will see a 50% reduction in the rewards that miners receive for block production. Because of the relative Bitcoin scarcity that will accompany the event, the price of the world’s king coin is expected to rise significantly. History also suggests that there will be a heavy pump in Bitcoin price after the halving. However, members of the community seem to disagree about whether or not the halving has already been factored in. Well, according to Lolli CEO Alex Adelman, the Bitcoin halving has not yet been priced in.
Lolli CEO About Bitcoin Halving
Adelman was recently a guest on CNN where he spoke about Lolli, as well as the halving. According to the CEO, most of the institutional investors who have big positions in the Bitcoin market don’t believe that the halving has been priced in. Adelman agrees with them. Speaking to CNN’s Julia Chatterley, he said:
“When I talk to my friends that are on the deep institutional side that have billion-dollar hedge funds, they are still waiting…I just don’t think that it has been priced yet.”
Bitcoin Halving Could Help Lolli
The Lolli CEO strongly believes that even though Bitcoin has come a long way, there are still a lot of people who do not understand it. This is probably why the Lolli platform was founded in the first place.
Launched back in August 2018, Lolli is a digital rewards platform that seeks to increase Bitcoin adoption as much as possible. The company does this by rewarding customers who use Bitcoin to make purchases online via its platform. On every transaction, the user gets a certain percentage back.
The arrangement is also beneficial to the online stores that Lolli partners with. Today, the company has more than 750 partners that also get a small percentage of every transaction done via Lolli.
Even though the halving event will create some scarcity, it could still benefit Lolli. This is because apart from the increase in the value of Bitcoin, the event always creates more awareness for the community. With more awareness, there will be more people using Bitcoin for online purchases and more people will probably do this via Lolli.
At the moment, most people are quite optimistic about Bitcoin’s chances.
Galaxy Digital CEO Mike Novogratz, for example, believes that Bitcoin could hit its all-time high of $20,000 or even surpass it.
Also, popular crypto analyst PlanB believes that Bitcoin will surge after the halving. In fact, PlanB says that Bitcoin will hit $55000 at the very least. He also added that by the end of 2021, Bitcoin would have hit $100,000.
Also, while he didn’t exactly tie it to the halving, Morgan Creek Digital co-founder and partner Anthony Pompliano believes like PlanB, that Bitcoin will hit $100k by the end of next year.
Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge.
When he’s not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.