Despite the massive volatility in the crypto market, there are all kinds of optimistic predictions popping up.
Some might seem more far-fetched than the others, but sounding how the market has been moving these days, anything is possible.
Fidelity drops mind-blowing BTC prediciton
Now, Fidelity dropped a mind-blowing prediciton about the price of BTC.
Did Fidelity say 1 billion per bitcoin?? 👀 https://t.co/BUztg4uzHJ
— Sean Harris (@BigSeanHarris) September 1, 2021
TrustNodes reveals that one of the world’s biggest asset managers became one of the world’s biggest BTC bulls. He has a top-off model that blows all others out of the water.
Jurrien Timmer, Director of Global Macro at Fidelity, recently revealed a method of valuing BTC that predicts it reaching $1 billion per coin in about two decades by about 2038.
Timmer combined in one chart the stock-to-flow model together with his own demand model.
“Metcalfe’s Law holds that, as the number of its users grows linearly, a network’s value (or, by inference, the bitcoin price) grows geometrically.”
He continued and said the following:
“In other words, bitcoin’s utility (value) should grow much faster than does its network of buyers, sellers, exchanges, ATMs, and participating retailers—at this time including, directly or indirectly, AT&T, Wikimedia Foundation (donations), the Dallas Mavericks, a few insurers, many banks, and countless small businesses.”
His own demand model grows very slowly to about $1 million by 2030.
At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $50,062.76.
SEC’s chief just priased BTC.
“I think the transformation we’re living through right now could be every bit as big as the internet in the 1990s,” Gary Gensler said.
Gensler also highlighted the fact that Bitcoin is borderless and its markets do not shut down: “It operates 24 hours a day, 7 days a week.”
Stay tuned for more news.