Podcast: Bitcoin’s Taproot upgrade – the path to $500,000?
In today’s Exponential Investor…
- A ring in from the bench
- What is “Taproot” all about
- Does this drive Bitcoin to $500,000?
In a special edition of the Exponential Investor Podcast, we’ve brought in guest expert, Boaz Shoshan to talk about bitcoin’s latest, and perhaps greatest, change…Taproot.
Kit’s away on leave, so we thought bringing in Boaz to discuss what bitcoin’s latest upgrade. This is akin to bringing Ronaldo off the bench in place for Messi.
Smoke blowing aside, there is a real and pertinent question that needs answering…
What is “Taproot”?
Bitcoin, like many other crypto developments, is a network. And, as a network, it needs to upgrade and update in order to stay functional and in order to deliver a better value proposition for participants and users.
Arguably this new upgrade to bitcoin’s software, and to its network, would be like jumping from 3G communications straight to 5G – while skipping 4G completely.
Or as Boaz explains, while you could upgrade an engine by whacking a supercharger on it, you can also just upgrade the entire engine with a better one.
So if bitcoin’s getting a new engine, where is the car headed next?
Well, that’s anyone’s guess.
But if Taproot delivers on the promise and potential developers suggest, then the sky is truly the limit. With the upgrade coming in November this year, there’s argument it could be the catalyst that send us through that hockey-stick moment, taking bitcoin parabolic again.
If ARK Invest’s Cathie Wood says bitcoin is going to $500,000 and beyond, will it be Taproot that’s the start of that run?
Or, if the value proposition of bitcoin is about to radically change, what does that mean for a smaller, more speculative part of the crypto world which both Boaz and Sam think is grossly underplayed by the market, and could offer some of the biggest upside yet?
It’s a fascinating discussion. If you feel that you need to get up to speed, or confirm that you are up to speed on this important topic, please join us.
Tune in now to access today’s Exponential Investor Podcast.
Sam Volkering and Boaz Shoshan