VanEck forecasts Bitcoin’s price could hit US$52.4M by 2050, while its bearish scenario still sees US$130K.
Willy Woo challenges extremely high forecasts, seeing a more realistic US$700K cap if Bitcoin captures 3% of global assets. Willy Woo Says US$24 Million Per BTC Questionable, Here’s His Take
Woo believes Bitcoin will overhaul financial systems as it potentially surpasses the market cap of all fiat currencies.
We’ve heard some wild predictions of where the price of Bitcoin could be in the next 10, 20 or even 25 years. Short-term many traders anticipate a doubling or at least a US$100K for BTC by year’s end, but that’s quite different when you expand your time horizon by a few decades.
One of the most bullish and long-term predictions recently comes from VanEck. According to the asset manager, the base case for the price of Bitcoin is US$2.9M (AU$4.45M) by 2050, while the bear case would see the price at US$130,314 (AU$200,160).
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However, the most interesting scenario is the bullish case, which according to VanEck could see one Bitcoin fetching a whopping US$52.4M (AU$80.5M).
Willy Woo Says US$24 Million Per BTC Unlikely
Naturally not everybody agrees, even though they are a long-term Bitcoin bull. Willy Woo for example believes even if all wealth is “captured” by Bitcoin which he says is “never gonna happen”, the total price per BTC would be US$24 million (AU$36.7m).
Woo’s prediction is US$700k (AU$1.076m) at the lowest, assuming that around 3% of global assets are allocated into Bitcoin.
But Woo also suggests that as Bitcoin surpasses the market cap of all fiat currencies, it will redefine the global financial landscape, making the typical fiat-based valuation system obsolete. This shift will prompt a focus on investments that outperform Bitcoin, with pioneers like Michael Saylor leading companies to adopt Bitcoin as their primary store of value, he posits. Willy Woo Says US$24 Million Per BTC Questionable, Here’s His Take
So, Wen Moon Mister Woo?
You may be asking: what timeframe does Willy Woo have in mind for such a price? Well, Woo is a little cryptic on that but he gives us the below chart.
He suggests that Bitcoin’s price reaching US$700k will correlate with its adoption following “the classic S-curve of technological adoption”. Woo implies that Bitcoin’s price reaching such a high level as US$700k would likely occur sometime between two adoption phases.
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