- Lee’s REAL wallets will allow normal people to easily access cryptocurrencies.
- According to Lee, investors should not be dissuaded by the up and downs of Bitcoin price, soon it will be trading at $200,000.
China’s first Bitcoin exchange BTCC founder Bobby Lee has been missing from the cryptocurrency space for a while. However, he is now making a comeback with a new startup called Ballet. The startup is focused on bringing to the industry a new set of Bitcoin wallets.
In an interview with Yahoo Finance, Lee said that the new wallets will enable “normal people, regular people access to cryptocurrency.” The first batch of the wallets are referred to as REAL and do not contain any electronic parts. For this reason, they can be used for safekeeping for private keys. In other words, Lee says:
“It’s like cash, once you load it with bitcoin, litecoin, ethereum, this device has everything it needs to access the funds.
“It can be used as a gift to give someone or you can just store it in safe deposit box and hide it somewhere at home. This is completely offline, there’s no hacking risk.”
Lee founded and run BTCC prior to the ban on trading activities in 2017. He later sold the exchange at an undisclosed amount. He spent most of last year giving speeches and on vacation. However, he decided to make a re-entrance into the crypto industry after spotting a gap.
Ballet has managed to raise $5 million in seed funding. Most of the funds are from family and friends but Ribbit Capital, a Silicon Valley capital fund backed it as well.
At the time, Lee was exiting the crypto market, Bitcoin was at its peak close to $20,000. It has since corrected lower and is currently holding ground above $10,000. Lee is predicting that Bitcoin will soon rise to levels above $50,000 and even hit $200,000.
“We are in one of many, many cycles to come. Any cycle will take us to higher and higher heights. I’m quite confident sitting on my bitcoin investment that in a very short amount of time we’ll exceed $20,000 and go to $50,000, $100,000, even $200,000.
“When I say a short time, I don’t mean minutes or hours, I mean maybe months, if not a few years.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.