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Bitcoin to $53 million? š¤
VanEck's bullish projection for Bitcoin is astronomical. Here's why the firm sees a potential sky-high price by 2050.
š 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 hasnāt 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 āachieve parity with or surpass gold as a primary global reserve asset.ā
Thatās the bull case, but even the $2.9 million base case would provide a sizable increase over the current mark. Granted, VanEckās bear case of Bitcoin rising to $130,000 by 2050 would undoubtedly disappoint investors, given that itās just 3% above the current all-time high.
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