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By 2050, the Bitcoin exchange rate could reach $2.9 million under an important condition: if the first cryptocurrency serves 5-10% of international trade and 5% of domestic payments, analysts at the management company VanEck said.
According to calculations by VanEck’s head of digital asset research, Matthew Sigel, and the company’s senior analyst, Patrick Bush, this is the base case scenario. The most positive, bullish scenario suggests that Bitcoin will reach $52.4 million per coin by 2050.
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“Bitcoin in this paradigm is not a tactical tool, it functions as a long-term insurance against adverse scenarios. Expanding global liquidity and currency depreciation will be the main drivers of growth,” VanEck experts announced.
In their opinion, the first cryptocurrency in the long term will replenish the reserves of the world’s largest central banks, which should serve as an additional factor in the growth of the asset. Although short-term price fluctuations in Bitcoin remain dependent on global liquidity cycles and the amount of borrowed funds in the market, convergence with the global financial structure will not allow BTC to collapse to its minimum values, VanEck analysts promise.
Earlier, Bill Miller, chief investment officer of the Miller Value Partners fund, said in an interview with CNBC that Bitcoin could hit a new all-time high this year. The reason is the use of the first cryptocurrency by Wall Street companies.
