Bitcoin Could Soar to $2.9 Million by 2050, According to VanEck

Vaneck’s recent report projects that bitcoin could reach $2.9 million per coin by 2050, envisioning it as a global medium of exchange and reserve currency. 

The report forecasts bitcoin settling 10% of international trade and 5% of domestic trade, with central banks holding 2.5% of their assets in BTC. Despite noting scalability issues, Vaneck suggests that Layer-2 solutions and software upgrades could significantly boost bitcoin’s adoption. 

The report underscores bitcoin’s potential role in future finance amid declining trust in traditional reserve currencies.

Clever Robot News Desk 30^th July 2024