Despite the massive market volatility, there are still new optimistic price predictions about the king coin released. Check out the latest one for 2031.
Bitcoin price prediction is out
It’s been revealed that a former hedge fund manager says that Bitcoin (BTC) could be worth well into the millions of dollars by the year 2031.
In a new interview with Altcoin Daily, Robert Breedlove, CEO and founder of crypto investment firm Parallax Digital, said that the king coin could reach a price tag of $12.5 million nine years into the future.
According to Breedlove, the deterioration of the US dollar (USD) will be the key factor in BTC’s price explosion.
“I have a public prediction that the US dollar is basically hyperinflated to zero, or close to it, by the year 2035…”
He continued and said thee following:
“I’m going to stand by that prediction today. I know the DXY [US dollar index] is way up recently but I sort of expect this thing to get volatile before it breaks down. If that is the case, then I have a matching Bitcoin price prediction of $12.5 million US per Bitcoin by the year 2031.”
Breedlove also made sure to note the fact that the catch behind such a price explosion would be that the purchasing power of the USD would be drastically weaker than today.
He also said that $12.5 million in 2031’s dollars would only be the equivalent of about $1 million in today’s dollars.
“A caveat there is that that would only be a $1 million Bitcoin price in 2020 dollars, so the purchasing power of 2020 at the time I made the prediction would be the equivalent of $1 million US in Bitcoin.”
At the moment of writing this article, BTC is trading in the green and the king coin is priced at $19,518. Stay tuned for more news from the crypto space.