Bitcoin at +84,380% by 2045: all the reasons for the meteoric forecast for the king of cryptocurrencies.
Bitcoin meteoric forecast: The King of Cryptocurrencies could rise 84,380% by 2045.
This exceptional rise is hypothesized by Michael Saylor, executive chairman of MicroStrategy, a company best known as the first public company to adopt Bitcoin as its primary treasury reserve asset and recently renamed itself precisely “Bitcoin development company”.
Saylor recently gave a keynote speech at a digital currency conference in Nashville, Tennessee, during which he shared his outlook for the next 20 years: Bitcoin, currently trading at $58,000, can grow between 5,170% and 84,380% by 2045. There are at least two reasons for this historic leap according to the expert. Here’s what cryptocurrency investors should know.
Bitcoin to +84,380% by 2045: demand will drive growth
According to Saylor’s prediction, Bitcoin’s growth rate “will gradually slow to about twice the rate of the S&P 500. And at that rate, Bitcoin will be worth $13 million per coin in 2045. That could be a $3 million bear case and a $49 million bull case.”
The most optimistic scenario is justified primarily by the demand factor. Bitcoin’s supply is limited to 21 million coins, so demand is the most important variable.
In other words, Bitcoin will only become more valuable as long as demand continues to grow over time. Michael Saylor believes that the recent approval of spot Bitcoin ETFs will increase demand by bringing more investors into the market.
“There’s 10 years of pent-up demand. People have been waiting for these ETFs, and now mainstream investors are finally able to access Bitcoin,” Saylor told CNBC in February. “The asset has found its equilibrium, and now people are starting to realize that there’s 10 times more demand for Bitcoin through these ETFs than there is supply from the natural sellers, which are miners,” he added.
Traditionally, investors have used cryptocurrency exchanges to gain exposure to Bitcoin and typically faced high fees for each transaction. But spot Bitcoin ETFs could unlock substantial demand from retail and institutional traders.
Additionally, investors no longer have to pay large transaction fees because many spot Bitcoin ETFs are less expensive.
Spot Bitcoin ETFs are therefore seen as a game-changer for cryptocurrency demand. They have broken all sorts of records since their approval in January 2024. The iShares Bitcoin Trust and Wise Origin Bitcoin Trust have accumulated more assets during their first 50 trading days than any ETF in history, according to Eric Balchunas of Bloomberg Intelligence. Additionally, the iShares Bitcoin Trust has reached $10 billion in assets faster than any ETF in history, according to the Wall Street Journal.
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The Role of the Bitcoin Halving
Another important aspect to consider when hypothesizing a jump in the value of the king of crypto is the so-called Bitcoin halving, which refers to the 50% reduction in block subsidies to generate Bitcoin that occurs approximately once every four years.
The most recent “halving” event occurred in April 2024, when the block subsidy was reduced from 6.25 BTC to 3.125 BTC. The halving is important for two reasons. First, it is the mechanism by which Bitcoin’s 21 million coin supply limit is enforced. Second, it reduces selling pressure simply because miners are minting less Bitcoin, so they have less Bitcoin to sell.
It is important to note that Bitcoin has always increased in value between halvings. In short, history says that Bitcoin will be worth more than $63,462 by the time the 2028 halving event comes around. The world’s most valuable cryptocurrency could theoretically return more than 619% by the 2028 halving event.
Higher demand and the effect of halving events are potentially bullish for Bitcoin, according to the expert. With the caveat, however, that the crypto is very volatile.
Original article published on Money.it Italy 2024-09-05 10:20:42. Original title: Previsioni Bitcoin: ecco perché potrebbe salire del +84.380% entro il 2045
