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Bitcoin News Today – $ 1 million per bitcoin by 2022, says Jesse Powell

Bitcoin is currently trading at $ 57,488. Given that it could hit $ 1 million in just two years, this is no joke. Kraken CEO Jesse Powell believes $ 1 million per bitcoin will be a thing by 2022. This is a very optimistic expectation from the individual, but definitely likely. But even this is nothing compared to the forecast by Michael Saylor, CEO of Microstrategy, of over $ 5 million per coin.

Is $ 1 million per bitcoin possible?

Yes it is possible, and if everything goes right the price could go even higher. The price of Bitcoin has increased more than tenfold in the past 8 months. Hence, it is logical to expect that given the nature of Bitcoin, it will continue to rise. Since the number of coins is inherently limited and the demand for Bitcoin continues to grow, it is obvious that if widely accepted, the price can rise dramatically. Initially there was a great deal of skepticism about whether Bitcoin should be viewed as an asset or just speculation. But this opinion has also changed. JP Morgan reported that BTC’s volatility is falling, which could also prove to be another reason for its price spike.

Image source: Enstine Muki

Powell also made several other points very clear about his views and predictions about Bitcoin. He said it was a waste to think of Bitcoin as a competitor to Fiat. He believes it’s a lot above and is the real future of the currency. With the dollar already showing signs of weakness and falling due to enormous inflation, we can say that Bitcoin could even go up indefinitely. Yes, you heard that right! Powell believes there is no upper limit on Bitcoin. He also gave a cool example of how the price of Bitcoin could go up. Currently, you can buy a Tesla Model 3 with a BTC. One year it could be a Lamborghini and another year it could be a Bugatti.

Powell explained why he used the term infinite. Since the value of the dollar is uncertain due to its pressure, it is difficult to accurately measure BTC by it.

Jesse’s prediction means BTC gold will plummet

Yes, at $ 57,000, BTC’s market cap is $ 1 trillion, which is 1/10 of gold. So an increase to $ 1 million per bitcoin means that not only will gold plunge, but double the market capitalization will also be hit. Yes, the total market cap of gold is $ 10 trillion. So BTC would only have to exceed the $ 500,000 price tag to pass this milestone. This also makes Bitcoin the world’s most valuable commodity.

What do you think of Jesse Powell’s $ 1 million per coin price prediction? And does it sound a little too optimistic? Let us know in the comments below. If you found our content informative, like it and share it with your friends.

Also read: According to JPMorgan, the institutes are noticing the decreasing volatility of Bitcoin.

Bitcoin News Today – $ 1 million per bitcoin by 2022, says Jesse Powell

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