Bitcoin (BTC) Maximalist Baek Hoon-jong Says the Outlook for Bitcoin Will Be Bright

Baek Hoon-jong (pictured), CEO of a platform that helps bitcoin investors keep their crypto in personal wallets, sat down with Maekyung.COM for an interview recently.

His company acts as a “custodial safe” of sorts, guiding purchases. He even describes himself as a bitcoin maximalist. For example, bitcoin is the standard of living, such as selling bitcoin to raise money when a large amount of money is needed.

Here are some highlights from the conversation.

CEO Baek is bullish on bitcoin’s outlook.

In terms of supply and demand, companies are actively buying. Therefore, he explained that the price of bitcoin next year will be good and it is a good product for long-term investment.

“If you look at bitcoin’s trend over the past decade, it has been almost 100% perfectly upward,” said CEO Baek, adding, “The price has always been on the rise as it has formed a new high point.”

He also drew a line on the bitcoin bubble theory raised by some.

“If it was a real bubble, it should have already disappeared over the past 15 years, but in fact, it continues to form a new high point every four years,” he said.

Also, the fact that it recently exceeded the psychological resistance level of $100,000 was considered a positive factor.

“I've been breaking through the high point, but the psychological resistance line of $100,000 has not been crossed well,” he said. “As I've crossed the psychological resistance line, I can go even $1 million.”

CEO Baek also urged caution as seniors in their 60s are increasingly interested in investing in bitcoin.

“In terms of amount, 80% of bitcoin investors are seniors,” he said. “There are many people who buy regularly.”

However, he cautioned against joining altcoins (virtual assets other than bitcoin) and futures and options.

CEO Baek said, "Someone guarantees a certain amount of profit. Alternatively, we should be careful of proposals to inform us of trading methods on Telegram, including investment and coin investment reading rooms, he said. "We recommend buying purely accumulated options without signing up for futures and options."

As for the reason why seniors are interested in bitcoin, he explained, "It is because there are no alternative assets," adding, "There is a lot of wealth focused on real estate, but the bad domestic stock market seems to be affecting it." As a result, he recommended investment after familiarizing himself with the contents as there are many bitcoin-related contents.