- Global investment giant, VanEck highlights that (BTC) might boost by over 100 times.
- Bitcoin price might reach $1.30 million one day and has further given the conditions when this projection would come true.
- The freezing of Russia’s foreign currency reserves will make alternatives like gold and Bitcoin more attractive as the national reserve assets.
Bitcoin (BTC) might boost by over 100 times as hard currencies are becoming less attractive reserve assets, highlights a global investment manager.
VanEck emerging markets fixed income strategy chief economist Natalia Gurushina and head of active emerging markets debt Eric Fine, highlighted in a Blog Post recently that the upside for BTC is potentially dramatic, were it to be largely adopted as a reserve asset.
According to VanEck, the Bitcoin price might reach $1.30 million one day. And that this projection would play out when the highly liquid global money supply M0 is divided by the crowned cryptocurrency’s current supply.
And that when the less liquid global money supply M2 is divided by the crowned digital asset’s total supply, VanEck signifies that Bitcoin’s price could hit $4.80 million.
ALSO READ – Mt. Gox Wallet Moves 6,800 BTC Amid Former CEO’s Strategies To Disperse $6B
M0 is the highly liquid money supply comprising the physical currency, coins, and notes, held inside or outside of the banking system. Whereas, M2 is the less liquid money supply comprising the money held outside the banking system such as savings deposits, checking deposits, and money market securities.
Furthermore, VanEck highlighted that following Russia’s invasion of Ukraine, the freezing of Russia’s foreign currency reserves is something that will make alternatives like gold and Bitcoin more attractive as the national reserve assets. But also warned that these projections are extreme and the investors should consider lower expectations.
It is indeed true that crypto assets have played a significant role in the ongoing war between Russia and Ukraine. And the asset class has proved helpful to Ukraine in the geopolitical crisis. But still, it is to look forward to if the cryptocurrencies can ever outdo the current national reserves assets given the skepticism hovering around the industry.
The post Bitcoin To Surge By 100 Times: Highlights Global Investment Giant VanEck appeared first on The Coin Republic: Cryptocurrency , Bitcoin, Ethereum & Blockchain News.
Source: https://www.thecoinrepublic.com/2022/04/03/bitcoin-to-surge-by-100-times-highlights-global-investment-giant-vaneck/