Bitcoin Price Prediction: VanEck Envisions $2.9 Million BTC By 2050

2024-9-3 10:30

Amid ongoing volatility for the Bitcoin price, which has struggled to reclaim its all-time high of $73,700, bullish predictions continue to emerge for the leading cryptocurrency. The latest forecast comes from VanEck, asset manager and Bitcoin ETF issuer with over $100 billion in assets under management.

Bitcoin Price Projection

In a recent update, VanEck projected that by 2050, the Bitcoin price could solidify its position as a key international medium of exchange, potentially becoming one of the world’s reserve currencies. This assertion is rooted in the anticipated decline in trust in current reserve assets, prompting a shift toward more stable alternatives like Bitcoin.

One of the primary barriers to Bitcoin’s widespread adoption has been its scalability issues. However, VanEck anticipates that these challenges will be addressed through the development of Layer-2 (L2) solutions, which enhance Bitcoin’s functionality and efficiency. 

By combining Bitcoin’s immutable property rights with the advanced features of L2 solutions, VanEck envisions a global financial system better equipped to meet the needs of the developing world.

With this in mind, the firm believes that by 2050, Bitcoin could be used to settle 10% of international trade and 5% of domestic transactions, leading to central banks potentially holding 2.5% of their assets in BTC. 

Based on projections of global economic growth, BTC demand and turnover, VanEck estimates a potential price of $2.9 million per Bitcoin, which translates to a total market capitalization of approximately $61 trillion.

This forecast incorporates assumptions about the global trade landscape, with trade growth expected to lag behind overall Gross Domestic Product (GDP) growth—projected at 2% versus 3%. 

Moreover, VanEck anticipates a market share decline for traditional currencies, such as the US dollar and the Euro, due to deteriorating economic fundamentals, which would allow Bitcoin and other emerging currencies to gain traction.

Store Of Value Potential

From a medium-of-exchange perspective, VanEck suggests that Bitcoin could capture 10% of cross-border payments and 5% of domestic trade. The firm also highlights that as Bitcoin becomes increasingly recognized as a store of value, approximately 85% of the circulating supply may be effectively removed from the market, further driving its value.

The analysis reflects a broader trend of the Bitcoin price correlation with traditional risk assets, suggesting that its movements will remain closely linked to macroeconomic conditions. 

As the global economy evolves, VanEck predicts that Bitcoin will become an essential component of the International Monetary System, gaining market share from existing reserve currencies.

At the time of writing, the Bitcoin price stands at $59,140, up 3% in the last few hours after rebounding from a drop towards $57,000 on Monday. 

Featured image from DALL-E, chart from TradingView.com

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 62969.36 (+0.18%)
Объем 24H $33.727b
Изменеия 24h: -0.51 %, 7d: 4.24 %
Cегодня L: $62864.23 - H: $63209.62
Капитализация $1244.217b Rank 1
Цена в час новости $ 59052.42 (6.63%)

bitcoin price vaneck asset comes latest emerge

Источник: newsbtc.com

bitcoin price → Результатов: 126


Bitcoin’s price jumps to a three-week high

Bitcoin’s price has surged 5.6%, hitting a three-week high of $61.1K on Tuesday morning Altcoins like Celestia, Immutable X, and Near have seen double-digit percentage gains Crypto stocks rose modestly ahead of the Fed’s expected rate cut announcement Bitcoin’s price has surged to its highest level in three weeks, triggering gains across the cryptocurrency sector […] The post Bitcoin’s price jumps to a three-week high appeared first on CoinJournal.

2024-9-19 19:40


Understanding Bitcoin’s Drop Below $60K: What’s Behind the Decline

Bitcoin did manage to break through the $60,000 barrier earlier in August, but it has struggled since to maintain this psychological target. While this much is clear, investors are all asking the same question – what’s keeping BTC’s price down? Analysts say that there are multiple factors impacting the price and that the latest major […] The post Understanding Bitcoin’s Drop Below $60K: What’s Behind the Decline appeared first on CaptainAltcoin.

2024-9-5 17:30


Bitcoin Price to Retest $60k Level Again – Will BTC Finally Break Out?

Bitcoin’s price surged by 4.7% yesterday, bringing it close to breaking into a new hourly higher high. In a recent analysis, Cheeky Crypto addresses the short-, medium-, and long-term views for Bitcoin, questioning whether the market is on the verge of a significant breakout above the $60,000 or if the recent movement was merely an […] The post Bitcoin Price to Retest $60k Level Again – Will BTC Finally Break Out? appeared first on CaptainAltcoin.

2024-8-17 12:25


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Alert: Analyst Predicts New ‘Blood Monday’ With 0.50% Fed Rate Cut Looming

As Bitcoin (BTC) grapples with a challenging market environment, it has struggled to regain momentum, hovering around the $53,000 and $60,000 levels for six consecutive weeks.   After losing the crucial $70,000 threshold on August 1, the largest cryptocurrency remains at risk of further declines, particularly with the upcoming Federal Reserve (Fed) meeting on September 18, where a 0.