Bitcoin Could Reach $2.9M By 2050, Says VanEck: Here's What Would Need To Happen
Portfolio Pulse from Murtuza Merchant
VanEck's new report forecasts Bitcoin (BTC) could reach $2.9 million by 2050, with scenarios ranging from $130,000 to $52 million. The projection is based on Bitcoin becoming a key player in the global financial system, settling 10% of international trade and 5% of domestic trade. Key risks include Bitcoin mining sustainability, community schisms, government regulation, and competition from other cryptocurrencies.
July 25, 2024 | 4:49 pm
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VanEck's report projects Bitcoin could reach $2.9 million by 2050, driven by its potential role in global trade and as a reserve asset. Key risks include mining sustainability, regulation, and competition.
VanEck's projection of Bitcoin reaching $2.9 million by 2050 is based on its potential to become a key player in global trade and as a reserve asset. The report highlights significant upside potential but also notes key risks such as mining sustainability, regulation, and competition from other cryptocurrencies. This optimistic long-term outlook could positively impact Bitcoin's short-term sentiment and price.
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