Bitcoin to $53 million? šŸ¤‘

VanEck's bullish projection for Bitcoin is astronomical. Here's why the firm sees a potential sky-high price by 2050.

šŸ“ What you need to know

Bitcoin has languished around the $90,000 mark of late after peaking above $126,000 in October, but the recent downturn hasn’t diminished the hopes of analysts. Crypto asset manager VanEck released its latest long-term Bitcoin projections this week, and the bull case for 2050 is pretty wild.

VanEck projects that Bitcoin could reach a price above $53 million per coin over the next 24 years, with the roughly 59,000% climb coming if BTC can ā€œachieve parity with or surpass gold as a primary global reserve asset.ā€

That’s the bull case, but even the $2.9 million base case would provide a sizable increase over the current mark. Granted, VanEck’s bear case of Bitcoin rising to $130,000 by 2050 would undoubtedly disappoint investors, given that it’s just 3% above the current all-time high.

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