Ledger exec says bitcoin uptrend because of retail investment
The CEO of Ledger said that retail investors are growing more over whales and these are responsible for driving the high price of Bitcoin.
Bitcoin crossed more than 13 years in this world. After bitcoin, many crypto assets entered this world but no one got support like Bitcoin. Even Bitcoin is working on its first traditional proof-of-work Consensus but still, it is doing much better because of its highly decentralized nature.
On 12 January, Pascal Gauthier- CEO and chairman of Ledger- appeared in an interview with CNBC. Through the interview, Pascal appreciated the support of retail investors in this crypto industry, especially for Bitcoin.
Right now the price of Bitcoin is fluctuating at $43,900 and this price is 36% down over an all-time time high of $69,000. The host of the CNBC show asked Pascal what he thinks about which factor will push the price of Bitcoin upward.
On this Pascal said that “What you see right now is a retail trend in bitcoin”. And further said that the numbers of Bitcoin addresses holding Bitcoin in small amounts are increasing over whales. So this is a clear indication that retail investors are a bigger factor.
” So I think you have a profound retail trend everywhere in the world. It just means that people are onboarding with bitcoin, they trust bitcoin more and more, and it the people that will push the price of bitcoin up.”
Further, Pascal appreciated Solana-like crypto blockchain Networks, which are creating a high-level competition against Ethereum blockchain. Ledger CEO believes that high scaling projects will show more competition against Ethereum.
“you can already see that Solana has built a good value proposition when it comes to NFTs in competition with Ethereum. I think this year you will see a lot of the same but scalability into all of these protocols.,” Pascal added
Read also: Enforcement department of India seized $5 million worth of funds involved in fake ICO
