Bitcoin Will Either Boom or Bust, Says Cryptoasset Manager

Michael Sonnenshein, managing director of Grayscale Investments, reportedly sees bitcoin’s future price in one of two possible scenarios: it will either boom to new highs, or it will come down to zero.

According to an interview Sonnenshein did with Fortune on the Balance The Ledger show, there won’t be a middle ground for the cryptocurrency. Per his words, bitcoin has faced “unbelievable adversity” since its creation, and “every day that bitcoin doesn’t go away, every day bitcoin overcomes a new challenge,” tells the cryptoasset manager the flagship cryptocurrency will either boom or bust.

He notably stated:

“It will either survive and become all these amazing things that we think it can be, which will cause its price to be a lot higher. Or it is possible something else may come along that will displace it and Bitcoin goes to zero. It likely will have a binary outcome.”

Sonnenshein, managing director at one of the world’s…