Bobby Lee, founder and CEO of Ballet Wallet, told Cointelegraph China during a Hub interview on Jan. 21 that regardless of Bitcoin’s recent 25% correction, its value will increase much more in the long run, and it is the real safe haven to the inflated U.S. dollar. He explained:
“Bitcoin will be more valuable in the future. The dollar is so inflated and devalued. Today’s 0.0003 Bitcoin may only be worth $10. But maybe five years later, 10 years later, 20 years later, it could be worth $1,000. At that time, the purchasing power of Bitcoin would be even higher.”
Lee believes that the recent bull Bitcoin market is driven by institutional investors and is rising much faster than he anticipated. He said:
“Some big U.S. companies, including MicroStrategy, are investing heavily in Bitcoin. In addition, some family offices are buying Bitcoin and exchanging some money for Bitcoin, which is a good promotion for it.”
The mission of Ballet Wallet
According to Lee, Ballet Wallet, a physical multi-currency non-electronic cryptocurrency cold wallet with high durability and storage efficiency, can be used as a better key carrier to let the public know about Bitcoin.
Lee explained that hardware wallets are actually hard to operate. It would normally take people two or three hours to set up and back up. In general, traditional hardware wallets are only suitable for immediate use.
Lee predicts that in 20 years from now, digital currency will go mainstream just like the worldwide access to the internet for today. Most people in the world will hold digital assets, whether it’s Bitcoin or other digital currencies.
Does he believe that physical wallets such as Ballet Wallet could help the masses to learn faster about what a private key is? What is currency transfer? What is a blockchain? What is broadcast trading?
Lee said Ballet Wallet is made up of high-grade stainless steel material with water-proof and fire-proof properties. It has a card-like design with compact handling and eradicates all the hassle that comes with setting up a newly purchased or created cryptocurrency wallet.
People also don’t have to set up or configure any settings after receiving your ordered Ballet Wallet. Both private and public address keys are situated on the steel material using a novel and highly secured technique.
Forked Bitcoin support
There are many hard forked Bitcoins, these include Bitcoin Cash, Bitcoin SV, Bitcoin Diamond, Bitcoin Gold, etc. Lee believes the strength of Bitcoin is its true decentralization. He said:
“If you respect decentralization, you have to realize that Bitcoin can be forked at any time. Because if Bitcoin does not allow forking, that means Bitcoin is not open.”
He thinks Bitcoin forking is not a bad thing. Because it’s truly decentralized and supported by consensus, it is natural for Bitcoin to hard fork. He says “the market will decide which one is the mainstream. Now it's obvious that Bitcoin is the mainstream.” Lee added that Ballet Wallet also supports all forked Bitcoins.
However, he also pointed out that institutional investors still only favor Bitcoin but gave Ethereum Classic and Ethereum as examples. Although some people believe Ethereum Classic could be better in theory than Ethereum, the market has proved otherwise. He added:
“ETH is more useful and valuable than Ethererum Classic. So later, ETC gradually became worthless. Although there may have been fund investment at that time, ETH is still the mainstream now.”
Satoshi Nakamoto prediction
As Lee is one of the core members of the Bitcoin Foundation, he got into Bitcoin as early as 2011. During the interview, he mused about who the real Bitcoin creator was. He offered this prediction:
“Craig Wright may be Nakamoto. [...] Besides him, David Kleiman may be the real Nakamoto. Third, Phil Wilson, also known as ‘scronty,’ wrote some articles about the early days of Bitcoin. [...] Although he can’t provide any evidence, I think he might be Nakamoto, or maybe at least a core person behind Nakamoto.”