According to Venzez Casares, in the next decade, the price of Bitcoin could rise to a million dollars. These words could be ignored if they had not been told by a member of the PayPal board. So, what arguments do cryptocurrency advocates use, and what can prevent the asset price from rising?
As a member of the board of PayPal, now cryptocurrencies are gaining increasing popularity. And it is quite possible that Bitcoin will be legal tender on an international scale. Then more than 3 billion people will use it, which will lead to an increase in the rate.
The development of infrastructure for the use of Bitcoin and other coins greatly increases the capabilities of users. Now you can buy or sell tokens not only through mobile applications, but also through Internet browsers.
It is noteworthy that Venzez Casares called the deadlines for achieving the goal. His forecast of the Bitcoin exchange rate suggests that growth to $ 1 million will occur not earlier than in 7 years, but not later than in a decade. At the same time, the expert notes that there are some risks in such an investment. However, the potential of profitability makes irresponsible those who are not invested in digital financial assets.
Cyber security expert John McAfee is even more optimistic about his predictions. He is confident that by the end of 2020, Bitcoin will be able to overcome the $ 1 million bar. Although the specialist did not disclose all the details of his calculation model, he cited arguments in favor of his forecast.
McAfee drew attention to the fact that the cryptocurrency is now ceasing to be a speculative asset, it begins to act as a means of payment instead of fiat money.
Now people use the dollar only because they trust the US government and the Fed. However, bitcoins have significant advantages over the dollar. Their emission is limited, and control over transactions can be exercised by anyone.
Therefore, in the short term, it is digital financial assets that will force out dollars. This is reminiscent of the theory put forward by another expert, Nick Sabo. His forecast of the cryptocurrency market also speaks of the price reaching a million dollars. At the same time, he calls Bitcoin "digital gold". And I am sure that in terms of security, this asset is far superior to investments in precious metals.
Almost all experts agree on one thing - in the coming years, cryptocurrencies are able to oust the dollar from the position of the main reserve asset. And therein lies the greatest risk. Now the American economy is largely developing only at the expense of the printing press.
In Russia alone, more than 80 billion US dollars accumulated in cash. The total amount of US public debt has exceeded $ 22 trillion. Over the past 11 months, it has increased by $ 1 trillion.
That is, in fact, the world finances the American economy, the largest and most powerful on the planet. That is, the United States is forced to be irreconcilable opponents of alternative currencies. They threaten not only their national security, but also financial stability on the planet. From this we can make the only conclusion - the debt load is growing, sooner or later, the pyramid of debt financing will collapse. And then the forecast of the Bitcoin exchange rate of $ 1 million will be more than realistic.