VanEck Sees Bitcoin Hitting $2.9M by 2050 – but a Lot Has to Happen First

Krisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment. He holds BTC and ETH.

By 2050, bitcoin may settle 10% of international trade and 5% of local trade gain with central banks' holding it as a reserve asset, asset manager VanEck said in a report.

There are risks for bitcoin's growth, including rising power demand, concerted government crackdowns and competition with other digital assets, the report said., bitcoin would become an essential part of the international monetary system in the next decades as rising geopolitical tensions and ballooning debt servicing costs erode the current system.

"We think many of these distortions stem from ... a massive misallocation of capital since the global financial crisis as G7 governments have abused the printing press, spending borrowed money on impossible goals," Sigel explained.In the report's base case scenario, BTC would become a key medium of exchange in local and global trade, representing 10% of international trade settlement and 5% of GDP.

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