VANECK SEES BITCOIN REACHING $61 TRILLION MARKET CAP, MARATHON BUYS $100 MILLION BTC
- VanEck's Bitcoin report predicts that BTC may hit a $61 trillion market cap by 2050.
- Marathon Digital acquired more bitcoin, urging world governments to use the asset as a reserve.
- BTC slides below $65K as Bitcoin Conference commences.
Bitcoin (BTC) declined by 1% on Thursday following asset manager VanEck's forecast that the top digital asset will reach a $61 trillion market capitalization by 2050.
VanEck foresees Bitcoin dominance amid current dip
Asset manager VanEck released a report on Wednesday predicting that Bitcoin will become a reserve currency among industries and countries by 2050. The report predicted that the price of BTC will hit $2.9 million per coin around that period, driving its market cap to $61 trillion by 2050.
VanEck suggests that this surge in the asset's price will result from increased adoption across the globe. It foresees that BTC will be used to settle 5% of the world's domestic trade and 10% of cross-national trade. This would ultimately result in central banks storing 2.5% of their assets in BTC, noted VanEck analysts.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.