VanEck: BTC Will Reach $2.9M by 2050

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In a recent report, investment manager VanEck predicts that Bitcoin could reach a total market capitalization of $61 trillion, equivalent to approximately $2.9 million per coin, by the year 2050.

This is due to increasing demand for the decentralized currency as a means of trade settlement and a reserve asset for central banks.

The report also suggests that by 2050, Bitcoin could potentially be used to settle 10% of global international trade and 5% of domestic trade, leading to central banks holding 2.5% of their assets in BTC.

Additionally, VanEck believes that the scalability issues of Bitcoin’s blockchain network, which have hindered its widespread adoption, will be resolved by emerging solutions such as Bitcoin Layer-2 (L2) technologies.

In fact, these L2s could collectively be worth approximately $7.6 trillion, accounting for around 12% of Bitcoin’s total value.