Chinese Bitcoin billionaire Zhao Dong: buy, buy, buy!

Bitcoin will hit $50,000 in three years, according to Chinese crypto billionaire Zhao Dong.

The OTC Bitcoin trader, who owns a substantial stake in Bitfinex, said on social media platform Weibo: “In the bull market, I don’t persuade people to buy Bitcoin because it seems easy to make quick money but in fact, it is not. Now I start to talk people into buying Bitcoin.”

He added: “Those who make truckloads of money do not have a very short-term speculative-driven investment mindset. Perhaps the Bitcoin price will continue to drop even lower, and it may fall up to 50%. But it is still worth steadily acquiring coins every time it hits a new low. You will possibly see a yield of 100 to 200% in three years.”

Check out our latest Bitcoin price analysis here.

Scott Thompson

Scott has been working in technology and business journalism for nearly 20 years, with a focus on FinTech, retail, payments and disruptive technology. He has been Editor of such titles as FStech, Retail Systems and IBS Journal and also contributed to the likes of Retail Technology Innovation Hub, PaymentEye, bobsguide, Essential Retail, Open Banking Hub, TechHQ and Internet of Business.