Bitcoin could reach US$3 million by 2050, projects VanEck

by Stephen Douglas
0 comments
Follow Us

Follow Us @

Bitcoin could reach US$3 million by 2050, projects VanEck
-Trending Marketing news, content marketing, latest Ways to rank your website, marketing discoveries, Local SEO, seo and social media marketing services. enjoy your stay on our website.

VanEck, an American investment manager, brought a bold projection for the future of Bitcoin. According to Matthew Sigel, head of research at VanEck, the price of Bitcoin could reach the $3 million mark by 2050.

The company’s analysis is based on the expectation that cryptocurrency will become a global reserve asset, and that central banks will start keeping it in their reserves. Sigel shared these predictions in a recent interview with CNBC. Furthermore, he commented on the current volatility of the Bitcoin market.

For long-term investors, the prospect of Bitcoin at $3 million offers an encouraging outlook amid the swings. Sigel further suggests that Bitcoin’s short-term volatility, especially in periods of political uncertainty, tends to be fleeting.

In the interview, he mentioned that events such as the United States presidential elections directly impact the cryptocurrency market. After all, expectations of future economic policies affect investor confidence.

Bitcoin at US$3 million

Sigel’s prediction of Bitcoin as a global reserve asset includes the hypothesis that central banks could allocate up to 2% of their reserves in BTC.

This scenario would drive price growth, with an estimated compound annual growth rate of 16% over the next few decades. For VanEck, this long-term projection makes sense given a scenario where emerging countries, such as members of the BRICS, show interest in using Bitcoin in international commercial transactions.

In addition, Sigel cited the recent inclusion of new members in BRICS, such as Argentina and Ethiopia, and the increase in Bitcoin mining initiatives in regions with state support. These initiatives, according to him, reflect the search for alternatives to the dollar in global transactions. This reinforces the view that Bitcoin could consolidate itself as a global reserve.

Another point highlighted by Sigel was the correlation between Bitcoin and United States monetary policy. The expansion of the money supply and the low interest rate policy, especially during the pandemic, have contributed to the increase in Bitcoin’s value in recent years.

Sigel finally noted that the recent growth in the money supply positively impacts the value of the cryptocurrency. Meanwhile, a negative correlation with the dollar creates an inverse relationship with BTC appreciation.

According to him, demand for Bitcoin remains high, especially in countries facing economic instability. With the governments of Germany and the United States selling significant amounts of Bitcoin, the currency’s supply has reduced, which could increase the price in the long term.

Bitcoin could reach US$3 million by 2050, projects VanEck

Follow TODAYSGIST on Google News  and receive alerts for the main trending SEO news, Ai news, latest Ways to rank your website, marketing discoveries, Local SEO and lots more!

Bitcoin could reach US$3 million by 2050, projects VanEck

SHARE POST AND EARN REWARDS:

Did you like this post?!!! Join our Audience reward campaign and make money reading articles, shares, likes and comment >> Join reward Program

FIRST TIME REACTIONS:

Bitcoin could reach US$3 million by 2050, projects VanEck

Be the first to leave us a comment, down the comment section. click allow to follow this topic and get firsthand daily updates.

JOIN US ON OUR SOCIAL MEDIA: << FACEBOOK >> | << WHATSAPP >> | << TELEGRAM >> | << TWITTER >

Bitcoin could reach US$3 million by 2050, projects VanEck

#Bitcoin #reach #US3 #million #projects #VanEck

You may also like

Leave a Comment

About Us

Today’s Gist is your go-to source for breaking news updates, entertainment, cryptocurrency insights, and more, keeping you informed and engaged daily