Did you miss Shiba Inu (SHIB) and Dogecoin (DOGE)? This famous crypto could reach $1,360,000 by 2030 according to an American management company! – The ₿log
In 2017, John McAfee predicted that Bitcoin would reach $1 million, but by the end of 2020.
When I predicted Bitcoin at $500,000 by the end of 2020, it used a model that predicted $5,000 at the end of 2017. BTC has accelerated much faster than my model assumptions. I now predict Bircoin at $1 million by the end of 2020. I will still eat my dick if wrong. https://t.co/WVx3E71nyD
Bitcoin – a market cap of $28.5 trillion by 2030!
The bullish case for Bitcoin is simple: it was the first widely accepted cryptocurrency, and it remains by far the most popular. Bitcoin, with a market cap of $797 billion (as of April 21), accounts for 41% of the total value of all cryptocurrencies.
Additionally, Bitcoin has a limited supply of 21 million tokens, and any economist will tell you that scarcity increases the value of an asset. More precisely, the more the demand for a scarce good increases, the more the good appreciates.
Thereby Ark Invest predicts that by 2030 the Bitcoin market capitalization will reach $28.5 trillion. If that happens, each Bitcoin will be worth around $1.36 million, which is a huge multiplication of its current price!
A rise in Bitcoin driven by large institutions
According to a recent report by Fidelity, 71% of institutional investors plan to diversify into cryptos in the future, up from 59% last year. Even better, 37% of institutions currently own Bitcoin, making it the most popular cryptocurrency among them. Tesla and MicroStrategy, for example, owned the equivalent of $5.8 billion and $2.04 billion in Bitcoins respectively at the end of 2021.
High net worth retail investors and merchants would invest over $10 trillion in Bitcoin by 2030, according to Ark. Also, more developing economies will accept bitcoin as currency, it could happen in Russia to counter economic sanctions.
Read alsoExcellent news for the Shiba Inu (+19.78%): the SHIB crypto is (finally!) available on Robinhood!
Payment players are not left out
To accompany the great adoption of Bitcoin. Online and offline payment players must come along: PayPal, Block and MercadoLibre are among the growing number of fintech companies offering digital wallets that facilitate Bitcoin transactions.
Several crypto exchanges now offer debit cards that allow investors to spend their Bitcoins in stores and online. The Coinbase VISA card is an example.
These technologies allow users to invest in Bitcoin and use it to pay for purchases.
Bitcoin, adopted as the official currency in the Central African Republic, is not a “panacea”, warns the IMF https://t.co/t850llWcwc
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