Cryptocurrency Manager John Sarson: As international political uncertainty casts ominous clouds over an otherwise positive economic narrative, one thing is certain about the state of digital assets – you will not see Bitcoin under $7,000 USD again.
John Sarson, the Managing Partner of Sarson Funds, went on record with his 2020 Bitcoin prediction in a Tweet over the weekend. According to Sarson, as international political uncertainty casts ominous clouds over an otherwise positive economic narrative, one thing is certain about the state of digital assets – you will not see Bitcoin under $7,000 USD again.
In a memo to investors last Friday, Sarson noted that the combination of improved regulatory clarity at home and political instability abroad are creating a supportive environment for the world’s largest digital asset. “We [now] have so much more clarity into the trajectory of institutional crypto adoption with firms like JP Morgan issuing their own digital currencies and Fidelity offering Bitcoin custody and trading,” Sarson said.
Looking ahead to 2020, one significant sign of encouragement, according to Sarson Funds, is developments on Capitol Hill, particularly the proposed Crypto-Currency Act of 2020, a draft House bill sponsored by Rep. Paul Gosar (R-AZ), which Sarson claims has broad support among financial firms looking to keep pace with Asian and European rivals.
Sarson Funds Chief Marketing Officer, Jahon Jamali cites US digital asset leadership as “of vital national strategic interest.” Jamali cautioned that beyond escalating tensions in the Middle East, it is China’s national blockchain technology initiatives that most directly threaten America’s global financial leadership saying, “Washington needs to step up and lead – the US must not lose the Blockchain Wars.” Comments that gain urgency and validity when considered with respect to Jamali’s background as former US intelligence officer.
This is not the first time Sarson Funds came out with bold New Year guidance for cryptocurrency investors. One year ago, while Bitcoin’s price hovered around $3600, Sarson publicly went on record with a press release stating that the price bottom was in for Bitcoin and that 2019 would herald renewed investor interest and growth for the digital currency.
Fast forward a year, and Bitcoin is up nearly 100%. During that time the Indianapolis and Boston based-firm focused on its core mission: educating Wall Street about blockchain technology and cryptocurrency investment strategies. From a nationwide speaking tour, presenting to investor groups and CFA Societies connecting thousands of financial advisors with transparent cryptocurrency educational resources, Sarson Funds believes increased regulatory advances will yield even further accelerated growth for digital assets in the new decade. Time will tell if Sarson’s predictions hold true again, with Bitcoin’s price trading just 3% above Sarson’s $7000 floor at the time of the announcement we may have our answer fairly quickly.
See the Press Release here.