Bitcoin can be $ 10 million



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The asset management company, Lucid Investment Strategies, claims that the price of Bitcoin can reach $ 10 million a day, become the new gold standard of Bitcoin, and can resolve the world debt crisis.

According to Lucid, the ratio of global debt to wealth is out of control and economic inequality has become a strange imbalance.

By the end of 2018, total world debt is estimated at 247 trillion dollars. On the other hand, total world wealth is 317 trillion dollars. In the past 20 years, debt increased 394 percent, while wealth increased 133 percent.

Lucid, the report is not sustainable in this case and the world economy must find a way to resolve the debt crisis, he said. The company said the five most likely strategies were the adoption of a gold standard, the creation of new commodity / currency baskets, economic growth, open delinquency in public debt, or large investments in Bitcoin.

Lucid believes that Bitcoin is the best alternative because it will provide a permanent correction in the debt crisis, although it may not be the most likely outcome.

The report prepared by Lucid President and Chief Investment Officer Tyler Jenks and Vice President Leah Wald said:

"Does this apply? Probably not. However, we believe that this is possible and we believe that it offers the least benefit to people, companies, institutions and countries at least by chance.

If something like that happens, the price of Bitcoin will definitely enter the stratosphere. So how high can you go? Lucid says $ 10 million is a good guess:

In Why $ 10 million? Bitcoin can provide sufficient reserves at this level to ease the world's debt burden. In this case, Bitcoin will be between 180-200 trillion dollars. Assuming world debt is based on $ 500 trillion to come here – remember that it grew by 394 percent in 20 years – Bitcoin will create a 40 percent reserve against that debt.

How can Bitcoin reach $ 10 million?

According to the report, to reach $ 10 million, Bitcoin must first exit the current collapse, but this is not expected to happen in the near future. Like many analysts, Lucid believes that Bitcoin hasn't reached its lowest point. The company expects crypto money to fall below 1,000 dollars.

Lucid, Bitcoin to form the base of subcoins and ICO tokens with the disappearance of most of the realization of the recognition of important qualities of triggers will be triggered. The company claims that this process has begun, but with regulations, Bitcoin will continue to lose its value, but this will be much slower than its competitors.

The price of Bitcoin in front of the biggest obstacle ahead of the value of gold supply states that they believe that investment companies value $ 100,000 Bitcoin ın as a value store will start challenging below, at this point, gold investors will not be reluctant to switch to Bitcoin. According to the report, if investors start selling gold for Bitcoin, crypto money can quickly overshadow the yellow metal.

Scaling, company adoption, and legal clarity

In addition, Lucid believes that developers must start promising a scale to ensure that the crypto money protocol is integrated into a more crowded network. Combined with company adoption and clarity of regulation, scaling also places Bitcoin in a position of reserve position, not just the position of store value.

Jenks and Wald say, yolu When this is achieved, the $ 1 million path will be smooth and straight. Bitcoin will have a market capitalization of $ 18 trillion in $ 1 million. The main asset class will be in the league. He will be a competitor. As the fastest growing asset class in the history of the world, it will no longer be ignored by pension funds, national wealth funds, foundations, corporate money managers, financial institutions, and even the government. They will bring high-speed price travel to 10 million dollars

Lucid, on the other hand, acknowledges once again that this thought experiment will not materialize in the real economy. They argue.

News: CCN

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