VanEck says Bitcoin could hit $2.9 million per coin by 2050
Bitcoin Layer-2s could be collectively worth around $7.6 trillion, the report added.
Investment manager VanEck foresees Bitcoin (BTC) potentially hitting $61 trillion in total market capitalization — or some $2.9 million per coin — in 2050 as a result of massive demand for the decentralized currency as collateral for trade settlement and a reserve for central banks, according to a July 24 report.
“It is conceivable that by 2050 Bitcoin could be used to settle 10% of the globe’s international trade and 5% of the world’s domestic trade,” VanEck said in the report. “This scenario would result in central banks holding 2.5% of their assets in BTC.”
VanEck adds that scaling solutions for Bitcoin’s blockchain network — Bitcoin Layer-2s — could collectively be worth approximately $7.6 trillion, or around 12% of BTC’s total value.
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Author: Alex O’Donnell
