Moreover, VanEck believes that BTC could act as a reserve currency for different countries. The team has noted that Bitcoin was designed to replace fiat money and could become a reliable and efficient alternative to current monetary systems, which feature "corruptible human authorities with immutable logic.” VanEck’s Bearish Scenario For BTC While the VanEck team estimated an exceptionally ambitious price target for Bitcoin in 2050, they also presented a more bearish scenario for the pioneer cryptocurrency.
VanEck’s team has also attributed their projected surge in BTC’s value to assumptions of anticipated global growth, rising investor demand and Bitcoin’s substantial transaction volume. The research team estimated Bitcoin’s value for 2050 using a simple velocity of money equation that includes three key factors – GDP of trade settled in Bitcoin, supply of circulating Bitcoin and Velocity of Bitcoin in the market.
Despite the ambitious forecast, VanEck’s research team has presented a comprehensive rationale explaining why they believe such a substantial price increase is attainable. VanEck Predicts Bitcoin Valuation For 2050 On July 24, VanEck published a report, outlining the teams’ assumptions for a bull scenario in which BTC could potentially rise to $52.38 million by 2050.
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