This speculative projection suggests that MCO will reach 1.9 BTC in 2022. This asset reached a peak of 1.9 BTC when it first listed on Bittrex. This isn't visible on this chart so I will post an older chart in the comments section.
I realize that this is a bold prediction. However, it isn't baseless.
This analysis is based on a trend in the crypto market where digital assets tend to return to their all-time high at some point in the future.
Furthermore, this asset has a max supply of 31.6 million tokens. That's really not a lot of tokens when you consider the number of people that will use the crypto.com VISA card + app.
The value proposition of the MCO token is as follows:
I. A user can purchase and lock anywhere between 50 and 50,000 MCO tokens to reserve the VISA card of their choice. The user will enjoy the perks of their card (cashback, referral commission, etc) while their tokens remain locked. And, tokens will remain locked for at least 6 months which will force users to hold their crypto for the long-term without cashing out for meager profits. I think that many will unlock their tokens once the 6-month holding period expires. But, those are short-minded investors. Others will keep their tokens locked indefinitely so that their portfolio significantly appreciates in value over the long-term. And, they will keep their tokens locked so that they can enjoy the perks of the card.
II. Users will send MCO to their family and friends because it is a way of transferring digital money instantly without a transaction fee. So, the app functions like Cash app or Venmo.
III. Users will be awarded with CRO airdrops every month for 60 months based on the number of MCO tokens that they hold on the app. This is only available in certain jurisdictions for the time being but it has tremendous value for those who receive these airdrops. It's basically free money. Incidentally, the CRO token will be used as a settlement token where people will be able to spend any crypto for goods and services in a network of merchants who accept the CRO token.
IV. Users will be able to secure a line of credit (without a credit check) by using their MCO tokens as collateral. So, in the future, the card will function like a secured credit card.
The point is, this asset is greatly undervalued in my opinion. The price will explode in value once the demand far exceeds the supply. I mentioned the max supply of 31.6 million tokens. But, there are only 15 million tokens in circulation.
I have personally reserved a royal indigo VISA card by locking 500 tokens. I'm still waiting for the crypto.com team to ship VISA cards to the US. I've already submitted my address and social security number which needs to be verified for KYC (know your customer) purposes. There are about 13,000 people in front of me who have reserved a VISA card. However, there are over 125,000 people behind me. And, that number is growing fast!
Eventually, there will come a time in this market when there are no more sellers. There will only be those who hold and those who have been waiting on the sidelines to buy.
I expect the number of users on this network to grow exponentially once the cards start shipping to the US. The reason for this is simple. Users in the crypto space need a way to access their crypto so that they can spend it when it's time to liquidate. So, the VISA card solves one of the biggest problems in crypto which is liquidity.
I realize that this is a bold prediction. However, it isn't baseless.
This analysis is based on a trend in the crypto market where digital assets tend to return to their all-time high at some point in the future.
Furthermore, this asset has a max supply of 31.6 million tokens. That's really not a lot of tokens when you consider the number of people that will use the crypto.com VISA card + app.
The value proposition of the MCO token is as follows:
I. A user can purchase and lock anywhere between 50 and 50,000 MCO tokens to reserve the VISA card of their choice. The user will enjoy the perks of their card (cashback, referral commission, etc) while their tokens remain locked. And, tokens will remain locked for at least 6 months which will force users to hold their crypto for the long-term without cashing out for meager profits. I think that many will unlock their tokens once the 6-month holding period expires. But, those are short-minded investors. Others will keep their tokens locked indefinitely so that their portfolio significantly appreciates in value over the long-term. And, they will keep their tokens locked so that they can enjoy the perks of the card.
II. Users will send MCO to their family and friends because it is a way of transferring digital money instantly without a transaction fee. So, the app functions like Cash app or Venmo.
III. Users will be awarded with CRO airdrops every month for 60 months based on the number of MCO tokens that they hold on the app. This is only available in certain jurisdictions for the time being but it has tremendous value for those who receive these airdrops. It's basically free money. Incidentally, the CRO token will be used as a settlement token where people will be able to spend any crypto for goods and services in a network of merchants who accept the CRO token.
IV. Users will be able to secure a line of credit (without a credit check) by using their MCO tokens as collateral. So, in the future, the card will function like a secured credit card.
The point is, this asset is greatly undervalued in my opinion. The price will explode in value once the demand far exceeds the supply. I mentioned the max supply of 31.6 million tokens. But, there are only 15 million tokens in circulation.
I have personally reserved a royal indigo VISA card by locking 500 tokens. I'm still waiting for the crypto.com team to ship VISA cards to the US. I've already submitted my address and social security number which needs to be verified for KYC (know your customer) purposes. There are about 13,000 people in front of me who have reserved a VISA card. However, there are over 125,000 people behind me. And, that number is growing fast!
Eventually, there will come a time in this market when there are no more sellers. There will only be those who hold and those who have been waiting on the sidelines to buy.
I expect the number of users on this network to grow exponentially once the cards start shipping to the US. The reason for this is simple. Users in the crypto space need a way to access their crypto so that they can spend it when it's time to liquidate. So, the VISA card solves one of the biggest problems in crypto which is liquidity.
Comment:
crypto.com/en/cards.html