BITCOIN COULD REACH $2.9 MILLION BY 2050?
Hey #CryptoSquad !
I just came across an article that got me thinking... According to investment management firm VanEck, Bitcoin could reach a whopping $2.9 million per coin by 2050!
Their "base case scenario" envisions Bitcoin becoming a key international medium of exchange and one of the world's reserve currencies. They predict that central banks will hold 2.5% of their assets in BTC, with 85% of BTC being removed from circulation as investors seek its store-of-value properties.
The #report also highlights three distinct scenarios: a base case predicting $2.9 million, a bear scenario projecting $130,314, and a bull forecast seeing the price soar to $52.4 million!
So, what's driving this optimistic projection? According to #VanEck , it's the anticipated erosion of trust in current reserve assets, fueled by deficit spending and geopolitical developments. They believe that Bitcoin's immutable monetary policy and decentralized nature could position it as a reliable reserve currency, similar to digital gold.
However, they also acknowledge several risks that could prevent Bitcoin's growth, including energy demand associated with mining, competitive threats from other cryptocurrencies, technological advancements, and potential regulatory challenges.
What do you think? Is this scenario plausible, or is it just wishful thinking?
Let me know in the comments!
Stay safe out there, folks!
