Crypto billionaire and actor Brock Pierce has argued that a Bitcoin (BTC) bull market is likely underway, which could see it reach new all-time highs.
In a new interview with CNBC, Pierce said that every time the largest digital asset by market capitalization has a real bull market, it "jumps over the top" and sets a record in terms of price.
"If you look at the historical cycles, you know when we end up going into one of these real bullish periods, and this looks like Christmas come early… I think this is the next [bullish period], and every time we're in in one of these bullish periods, we do find historical highs… So will we get to $150,000? I have no idea, but is it possible? Definitely. And it is also possible to find ourselves in a downfall again…"
Pierce, who co-founded Tether, went on to say that over the past decade, US regulators have prevented many US investors from building wealth by continually rejecting exchange-traded funds (ETFs) for the BTC spot market.
He argues that ETF approval is overdue and contributes to the current excitement around Bitcoin:
"Attempts to do so have been going on for a decade. If the ETF had been made available to the American people when Bitcoin was at $100 or $200, how much wealth would have been created for the American people? The regulators in this case prevented the American people from benefiting from this incredible period of wealth creation and it ended up mostly in the hands of international companies."
