Key Takeaways:
- VanEck predicts Bitcoin’s market cap could reach $61 trillion by 2050, equating to $2.9 million per coin.
- Bitcoin’s potential as collateral for trade settlements and a reserve asset for central banks is a key factor in this projection.
- Bitcoin layer 2 solutions, such as the Lightning Network and Stacks, could be worth $7.6 trillion, addressing scalability issues.
Investment manager VanEck predicts that Bitcoin’s market capitalization could reach $61 trillion by 2050, equating to around $2.9 million per coin.
This projection is based on Bitcoin’s potential use as collateral for trade settlements and a reserve asset for central banks.
JUST IN: VanEck predicts #Bitcoin could hit $2.9 million by 2050 🚀 pic.twitter.com/1J6zFGZDFg
— Bitcoin Magazine (@BitcoinMagazine) July 25, 2024
The report suggests Bitcoin could handle 10% of global international trade and 5% of domestic trade, with central banks holding 2.5% of their assets in Bitcoin.
Additionally, Bitcoin layer 2 scaling solutions could be worth $7.6 trillion, addressing scalability issues.
VanEck notes the declining use of the euro and Japanese yen in international settlements and foresees Bitcoin as a neutral exchange medium.
The report highlights risks such as mining, scalability, and regulation challenges but does not identify definitive winners among Bitcoin L2 projects, though it mentions the Lightning Network and Stacks as promising.
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Efe Bravo, a seasoned journalist, delivers compelling insights into the cryptocurrency and blockchain industry.
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