Bitcoin Will Rise As High As $10 Million And Become The Gold Standard? Here’s What An Asset Management Firm Predicted

bitcoin price


When the bulls took over the cryptocurrency market toward the end of December 2017, many experts were bullish about Bitcoin. The bullish predictions that were made when the prices started soaring helped fuel the hype train that eventually took the price of BTC near $20,000. At the time, no one predicted the bear wave that was to follow and drag the price of BTC down to $3000.


Unfortunately, as the year 2018 came to an end and none of these upside predictions were in sight, many experts stopped predicting entirely while some started calling for a bottom. This year, most of the Bitcoin predictions have been related to developmental growth and not price. Many have acknowledged that even if the price of BTC is going to keep trading in range for a while, the industry is still making a lot of progress. Surprisingly though, an asset management firm, Lucid, has predicted that Bitcoin is going to crack $10 million in the long run.


Bitcoin To Fix Global Debt Crisis Permanently


As the cryptocurrency winter continues and many experts make bearish predictions for BTC, an asset management firm, Lucid has predicted that the price of BTC will rise as high as $10 million. The firm also predicted that the flagship cryptocurrency is going to solve the world’s debt crisis and become the global standard. In a report that was published by the company, it claimed that the world economy needs to find new solutions to solve the debt problem.


One of the five strategies the firm listed as a possible solution is the adoption of cryptocurrencies and massive investment in Bitcoin. It also listed creation of a new currency/commodity basket, and outright default on sovereign debt. Even if it’s unlikely, the firm stated that investment in Bitcoin has the highest potential to solve this debt crisis permanently while minimizing the damage that may come from global economic upheaval.
Part of the report by President and the CEO of Lucid Dean Tyler and the Vice President Leah Wald:


“Will mass adoption of Bitcoin be feasible? Maybe not. However, we believe it is possible and it will be the most beneficial solution that would have the least collateral damage long-term. This might provide a permanent fix to the global debt crisis. This is something no other solution can provide.”


Bitcoin Will Crack $10 Million And Become Gold Standard


If this happens, the price of BTC will rise as high as $10 million. If BTC is going to provide enough reserve to end the world debt burden, and the world debt is as high as $180 trillion or $210 trillion in 20 years time, the amount would be $500 trillion and BTC will make up for 40% of its reserve. BTC would need to rise by 285,614.3% to reach $10 million. Keep in mind that BTC is currently struggling to stay above $3500.


Bitcoin (BTC) Price Today – BTC / USD
Name Price24H (%)
Bitcoin (BTC)
$10,400.00
-5.30%


The report highlighted the things that would need to happen if BTC is to reach $10 million. First of all, it needs to bottom out. After finding a bottom, there should be a decimation of altcoins. With these two factors in place, Bitcoin will start rising against the USD. If the price gets to $100,000, BTC will become the new gold. This will increase its value even more.


What do you think? Will Bitcoin ever be the first choice for solving the global debt problem?

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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