By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
CryptoXTimesCryptoXTimes
  • Home
  • News
    • Crypto
    • Bitcoin News
    • Ethereum News
    • Altcoin News
    • Shiba Inu News
    • Ripple News
    • Analysis
    • iGaming News
  • Cryptocurrency
    • Price Prediction
    • Learn
    • Reviews
  • Advertise
    • Press Release
  • Contact Us
Notification Show More
Font ResizerAa
CryptoXTimesCryptoXTimes
Font ResizerAa
  • Home
  • News
  • Cryptocurrency
  • Advertise
  • Contact Us
Search
  • Home
  • News
    • Crypto
    • Bitcoin News
    • Ethereum News
    • Altcoin News
    • Shiba Inu News
    • Ripple News
    • Analysis
    • iGaming News
  • Cryptocurrency
    • Price Prediction
    • Learn
    • Reviews
  • Advertise
    • Press Release
  • Contact Us
Have an existing account? Sign In
Follow US
© 2024 CryptoXtimes. All Rights Reserved.
CryptoXTimes > Article > News > VanEck Predicts Bitcoin’s Meteoric Rise By 2050
NewsCrypto

VanEck Predicts Bitcoin’s Meteoric Rise By 2050

VanEck forecasts Bitcoin reaching $61 trillion market cap by 2050.

Aima Raza
Last updated: July 25, 2024 7:17 pm
Aima Raza 10 months ago
Share
VanEck Predicts Bitcoin’s Meteoric Rise By 2050

VanEck, an investment manager, thinks that by 2050, Bitcoin could have a market value of $61 trillion, which is about $2.9 million per coin. According to a report released on July 24, the rise is due to more people wanting to use BTC as collateral for trade settlements and as a reserve asset for central banks.

According to the report, Bitcoin could be used to settle up to 10% of foreign trade and 5% of domestic trade by 2050. In this case, central banks would have 2.5% of their assets in Bitcoin.

VanEck also thinks that Bitcoin layer 2 (L2) scaling options could be worth about $7.6 trillion, or 12% of Bitcoin’s total value. This would solve the cryptocurrency’s problems with being able to grow.

Challenges In Bitcoin Adoption

VanEck thinks that Bitcoin’s rise will be caused by the relative fall of major economies like the US, EU, and Japan, along with a loss of faith in their currencies because they spend too much on deficits. Businesses and customers may turn to BTC as a neutral way to buy and sell things because it has stable property rights and a predictable monetary policy.

As a chance for BTC , the report points out that the euro and the Japanese yen are being used less and less in international transactions. About 22% of cross-border payments were made in euros in the middle of the 2000s. Today, that number is only 14.5%. The yen’s share has dropped from 6.2% to 5.4%.

VanEck is aware that Bitcoin’s acceptance could be hindered by problems with mining, scalability, and rules. Even with these problems, the company has found 16 BTC L2 projects with a lot of promise. These include the Lightning Network and Stacks, but they have not named a winner yet.

Gold is still an established global reserve asset, but VanEck says that a return to the gold standard is unlikely because of problems with logistics, security, and financial integration.

You Might Also Like

PEPE Memecoin Surges 8.5% After Trump’s Cryptic Post Sparks Frenzy

Telegram Integrates Elon Musk’s Grok AI in $300M Deal

Berachain Transactions Tumble, Fee Revenues Cut In Half

Trump Media Launches $2.5B Crypto Investment Strategy

$BONK Surges 4% as Breakout Above $0.000021 Nears

TAGGED: Bitcoin, Cryptocurrencies, VanECK
By Aima Raza
As a practicing lawyer who focuses on issues related to crypto and blockchain, Aima gives our content a unique legal viewpoint. Because she is so good at navigating the constantly changing regulatory environment, our readers always know about the latest regulations and happenings in the crypto world.
Previous Article WazirX Hack Likely Linked To Liminal Breach, Report Reveals WazirX Hack Likely Linked To Liminal Breach, Report Reveals
Next Article Altcoins SATS, Aave, Monero, And ORDI Surge Over 10% Following Bitcoin's 4% Jump Altcoins SATS, Aave, Monero, And ORDI Surge Over 10% Following Bitcoin’s 4% Jump
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow US

Find US on Socials
TwitterFollow
TelegramFollow
LinkedInFollow

Subscribe to our newslettern

Get Newest Articles Instantly!

Popular News
PEPE Memecoin Surges 8.5% After Trump’s Cryptic Post Sparks Frenzy
PEPE Memecoin Surges 8.5% After Trump’s Cryptic Post Sparks Frenzy
Iceland PM Shifts Energy from Bitcoin to Agriculture
Iceland PM Shifts Energy from Bitcoin to Agriculture
RippleX Halts AMM Pool Deposits Due to XRP Ledger Glitch
RippleX Halts AMM Pool Deposits Due to XRP Ledger Glitch

You Might Also Like

XRP Gathers Momentum Amid Whale Accumulation and ETF Buzz
Altcoin NewsNews

XRP Gathers Momentum Amid Whale Accumulation and ETF Buzz

By Muhammad Ali 1 month ago
MOVE Token Drops 20% After Coinbase Announces May 15 Trading Suspension
CryptoNews

MOVE Token Drops 20% After Coinbase Announces May 15 Trading Suspension

By Haider Ali 1 month ago
XRP Eyes Potential 15% Gains Amid Regulatory And Market Developments
NewsCrypto

XRP Eyes Potential 15% Gains Amid Regulatory And Market Developments

By Nayab Fatima 4 months ago
Shibarium Hits 912M Transactions as SHIB Burn Rate Skyrockets
NewsCrypto

Shibarium Hits 912M Transactions as SHIB Burn Rate Skyrockets

By Rubab Fatima 4 months ago
CryptoXTimesCryptoXTimes
Follow US
© 2024 CryptoXtimes. All Rights Reserved.
  • About Us
  • Careers
  • Privacy Policy
  • Risk Disclaimer
Welcome Back!

Sign in to your account

Lost your password?