Bitcoin headed to $500K, says Gryphon CEO: ‘Nothing has changed'

Bitcoin headed to $500K, says Gryphon CEO: ‘Nothing has changed'

Bitcoin Volatility is Natural, Long-Term Prospects Remain Strong, Says Gryphon CEO

Bitcoin’s recent price swings have triggered concern among some investors, but Gryphon Digital Mining CEO Steve Gutterman believes there's no need to panic. Speaking with Roundtable host Rob Nelson, Gutterman emphasized that Bitcoin’s volatility is simply part of its natural growth process, and its long-term outlook remains extremely positive.

Nelson downplayed concerns over Bitcoin’s fluctuations, pointing out that Bitcoin has been trading between $90,000 and $100,000, a 10% volatility range that he deemed typical for an asset of Bitcoin’s size. “I don’t understand why everyone is freaking out about Bitcoin being at 92 or 94. This level of volatility seems pretty reasonable for an asset this size,” he remarked.

Gutterman echoed this sentiment, reminding listeners that just a few months ago, Bitcoin was priced around $60,000. “Whether it’s at $90,000, $95,000, or $100,000, it's a significant increase in a short period,” Gutterman noted, adding that a longer-term perspective reveals a steady upward trend in Bitcoin’s value. At the time of the interview, Bitcoin was trading at $99,000, up 2% in the last 24 hours.

The Fear of Bitcoin’s Drops – And Why It’s Unjustified

Nelson shared a personal anecdote about his nephew, who expressed panic when Bitcoin dipped to $92,000, fearing the cryptocurrency was about to crash. Gutterman attributed this anxiety to a lack of understanding of Bitcoin’s fundamental strengths.

“There’s a lot of excitement around Bitcoin, but not everyone understands its fundamentals,” Gutterman explained. He believes that if more people understood the principles of Bitcoin, such as its scarcity, growing adoption, and institutional support, they would be less likely to panic over short-term price drops. “People would be even more bullish and not so concerned about a $500 or $700 dip in a single afternoon,” he said.

Bitcoin’s Future: $200K and Beyond

Gutterman remains optimistic about Bitcoin’s future. He pointed to the increasing adoption by governments and institutions, predicting that these trends will push Bitcoin to new heights, eventually surpassing $200,000, $300,000, and possibly even $500,000. “Nothing has changed,” Gutterman stated. “The increasing acceptance of Bitcoin—from governments, sovereign wealth funds, and the general public—is all still there.”

Gutterman’s bullish outlook reflects his confidence in Bitcoin’s long-term trajectory, despite its current volatility.