CoinVoice has recently learned that VanEck, the issuer of the spot Bitcoin ETF, predicted in its latest report that the price of Bitcoin (BTC) could reach $2.9 million in 2050, assuming some important conditions are met.
Matthew Sigel, head of digital asset research at VanEck, said Bitcoin could become a vital part of the international monetary system in the coming decades as geopolitical tensions rise and debt repayment costs soar.
In the report's base scenario, BTC will become a key medium of exchange for local and global trade, accounting for 10% of international trade settlements and 5% of GDP. At the same time, it will also become a global reserve asset, accounting for 2.5% of international currency reserves.
If VanEck's scenario goes as planned, Bitcoin prices will increase 44 times, with an annual growth rate of 16%, and the market value will soar to $61 trillion. The report points out that the popularity of L2 networks will play a key role in overcoming the bottleneck of the Bitcoin blockchain.
However, VanEck also warned of potential risks, including increased energy requirements for miners, the need for significant growth in transaction processing revenue, government efforts to restrict or ban Bitcoin, competition from other cryptocurrencies, and the potential for excessive control by large financial institutions. [Original link]
