VanEck predicts a price of #Bitcoin for the election, asserting that BTC will reach 3 million USD by 2050
VanEck recently made a price growth prediction of #Bitcoin , with an optimistic outlook that this cryptocurrency could reach 3 million USD by 2050. According to Matthew Sigel, head of the company's digital asset research department, the upcoming election in the U.S. is creating a positive backdrop for Bitcoin, opening up significant opportunities for this cryptocurrency.
Sigel compared the current situation to 2020, when Bitcoin witnessed a strong growth surge after the election. On October 28, the price of Bitcoin surpassed the 69,000 USD threshold, indicating the potential for a new record in the near future. Over the past 12 months, the price of Bitcoin has increased by nearly 100%, and the recent recovery from 57,000 USD to nearly 70,000 USD may be linked to expectations that Donald Trump, the former president, could be re-elected.
With previous statements supporting cryptocurrency, Trump seems to attract interest from investors. According to investor Paul Tudor Jones, regardless of who wins the election, high inflation could push the value of $BTC and other assets like gold higher.
In the long-term outlook, VanEck predicts Bitcoin could reach 2.9 million USD by 2050, which is feasible if Bitcoin becomes an international reserve asset and accounts for about 2% of the reserves of central banks worldwide.
