February 20, 2024

Opinion: thanks to the Lightning Network BTC price will rise to a million dollars

Opinion: thanks to the Lightning Network BTC price will rise to a million dollars

According to Tim Draper, in 2022 the price of BTC could rise to millions of dollars, and the reason for this will beinnovative payment systems like the Lightning Network.

Answering questions during the Malta AI Summit & Blockchain last week, venture capitalist Draper said that innovations like LN will be a catalyst for BTC price growth. He said:

I think that payment systems working withBitcoin will have a significant impact on the development of cryptocurrencies. Lightning Network and OpenNode allow fast and secure transactions, so BTC will turn from an investment asset into a viable payment method.

And although the Lightning Network is not directlysense as a payment operator, the system allows for almost instantaneous BTC transactions at a very low cost. Transaction fees within LN can be much lower than an on-chain transaction – such a transfer will cost approximately $0.000008788 or 1 satoshi.

Recall that recently during his interview, Draper said that the price of the first cryptocurrency will rise above the $ 250,000 mark.

Based on materialscointelegraph.com