Will we see bitcoin at $ 100,000? An expert thinks so and gives 3 reasons

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Financial, economics and digitization expert Alexánder Puutio lists in an article published this Friday in Forbes why you think the price of bitcoin – which recently broke its all-time high, hitting $ 66,283 – will likely exceed $ 100,000 in a few years.

The first reason the economist exposes is that cryptocurrencies are still in an initial phase and have a long way to go to reach their “peak of maturity”.

“Bitcoin adoption has been particularly strong in Asian countries such as India, Pakistan and Vietnam, where recent analyzes have revealed that more than 40% of those surveyed have cryptocurrencies,” Puutio points out. To get a sense of the scale of systemic adoption in the West, compare this figure with the fact that less than 10% of respondents in the UK and US admit to owning crypto. “

This is an indicator that cryptocurrencies, especially in the West, have a large potential user base.

At the same time, El Salvador recently became the first country in the world to adopt bitcoin as legal tender and, according to Puutio, “over 80% of central banks around the world are actively engaged in digital currencies.”

The second reason given by Puutio is that, like gold, bitcoin “provides a strong safety net against inflation, global turmoil and any other deception that the market may throw at an investor”, hence the demand for this cryptocurrency and others only grow.

“The past few years have given us a sense of how our future is likely to be marked by geopolitical insecurity and the worsening ravages of climate change and man-made disasters,” writes the expert. “In an increasingly volatile environment, Bitcoin’s unique combination of defensive prowess and speculative appeal makes it more scalable than many other asset classes today. “

Finally, Puutio points out that there are only 21 million bitcoins and that to date around 18.4 million. Of these, between 10 and 30% are out of the market, due to lost passwords, hardware failures, etc. It is therefore a limited resource.

“A decrease in supply, coupled with an increase in demand, will inevitably lead to an increase in prices,” Puutio concludes. In general, there is good reason to believe that the 60,000 [dólares] that won’t mean the end of the bull run and while it will certainly be a bumpy run, things are looking good for those willing to buy and hold. [bitcoines]”.

Disclaimer: This article is generated from the feed and is not edited by our team.

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