University of Wyoming Launches Bitcoin Research Institute

Previously, VanEck Asset Manager, the issuer of spot bitcoin and ether ETFs, predicted that the price of bitcoin (BTC) could reach USD 2.9 million or around IDR 47.22 billion (assuming a US dollar exchange rate of 16,285 to the rupiah) in 2050. However, the BTC price could be achieved after passing through a number of challenges.

Quoting Yahoo Finance, written Monday (29/7/2024), based on VanEck’s assumptions in a report last Wednesday, bitcoin will become an important part of the international monetary system in the coming decades. This is because rising geopolitical tensions and ballooning debt service costs are eroding the current system.

“When we look at the world today, we see huge economic imbalances, increasing distrust of existing institutions and continued deglobalization,” said Van Eck’s Head of Digital Asset Research, Matthew Sigel, as quoted by Yahoo Finance.

He added that he sees much of this distortion as stemming from the massive misallocation of capital since the global financial crisis. “G7 governments have abused the printing press, spending borrowed money on impossible goals,” Sigel said.