According to Keith Gilabert, President of Fina V Capital, "Bitcoin (BTC) has strong upside potential based on demand from hedge funds and the decentralizing of weaker currencies, based on our assumptions we have an aggressive target price of $5,000.00 within 12 months."
Los Angeles, CA -- (SBWIRE) -- 01/03/2014 -- Fina V Capital is bullish on Bitcoin (BTC), with the price of the digital currency soaring to $5,000.00 per coin by the end of 2014. The President of Fina V Capital Keith Gilabert states, “Our target price is based on the demand we see from hedge funds and the decentralizing of third world currencies.”
Gilabert states, “The value in Bitcoin comes from the ease of use for trade. There are currently 178 currencies used around the world. The exchange rates fluctuate quite a bit and the banks processing fees can reach as high as 12% on a single transaction. With Bitcoin you eliminate the banks processing fees and save up to 10% on the transaction. If you take a nominal figure such as a $1 billion in transactions that’s over $100 million the consumer has saved in fees and now has additional buying power.”
Winklevoss Capital, headed by Cameron and Tyler Winklevoss who came up with the idea that that gave Mark Zuckerberg the inspiration of Facebook, stated that the price of Bitcoin could reach $10,000 and maybe worth $40,000 per coin someday.
Another bullish prediction came from Wall Street Analyst Gil Luria and Aron Turner who have given Bitcoin a target price of almost $100,000.
Former Facebook executive Chamath Palihapitiya stated, if Bitcoin could establish itself as a “useful reserve currency” it could worth more than $400,000.
According to Gilabert, “The reason People’s Bank of China announced that commercial banks in the country could no longer deal in the digital currency Bitcoin was because it undermines their Central Bank. Bitcoin allows a way to securely record transactions without the need for a Central Authority to confirm or verify those transactions. ”
Bitcoin protocol creates a blockchain, which tracks each and every transaction on the network. Bitcoin’s lead developer Gavin Andresen stated, “The idea is to give people a way to do what they clearly want to do, but do it in a responsible way that strikes a balance between you and whatever you want into the blockchain.”
This allows a contract to only be triggered by data feeds within the blockchain encrypted on the Bitcoin.
Investment from venture capitalist in Bitcoin has begun to gain momentum. Coinbase raised $25 million from Netscape creator Marc Andreessen and BitPay has raised $2 million from venture firms. “These are major players in the Bitcoin arena and this is further confirmation that there is value in Bitcoins”, according to Gilabert.
About Fina V Capital
Fina V Capital serves entrepreneurs by providing less dilutive, more flexible forms of capital. We provide senior and subordinated term loans in the $1 million to $20 million range to emerging businesses backed by venture capital and private equity firms. Target clients range from emerging growth companies led by dedicated entrepreneurs to late-state, established companies seeking cash-flow for expansion. We give our clients access to our contacts of Fortune 500 companies which will add diversity to their product lines and help fuel growth. There are less than a dozen consulting firms worldwide that can offer this level of service.
Paula D. Smith
Address: Los Angeles, CA
Phone Number: 810-583-3676
Website Url: www.thebitcoinnews.co.uk
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