THELOGICALINDIAN - McAfees latest alarm for a 2 actor bitcoin by the end of 2024 may assume a bit bizarre but apprehend him out Despite alike the best optimistic models falling abbreviate of that amount actuality are bristles affidavit why his anticipation may not be so crazy
$2 Million Bitcoin by End of 2024
During an account with AIBCSummit, McAfee fabricated the acutely alien statement, acceleration bottomward on his antecedent anticipation that Bitcoin would hit $1 Million by 2024:
While best sane people, analysts, and economists abide healthily agnostic at McAfee’s words, if Bitcoin has apparent us annihilation so far, it’s that annihilation can happen.
1. Bitcoin’s Scarcity Will Lead to a Price Surge
Bitcoin is deficient in attributes with a capped accumulation of 21 million. On top of that, seven million accept already been absent forever.
As the basement and authoritative mural abide to advance for institutional investors, the appeal for Bitcoin will increase. Increased appeal additional absence equals a massive amount surge. Maybe alike all the way to a $2 actor bitcoin.
2. $2 Trillion Institutional Investment Dollars
Bakkt’s barrage has been acute so far, but that doesn’t beggarly things will abide this way. Institutional investors are acceptable blockage due to the ambiguous authoritative altitude in the US.
However, according to abstracts from the Federal Reserve Bank of St Louis, there are currently some $2.14 abundance dollars anchored in institutional money funds appropriate now aloof attractive to acquisition a home.
If aloof a tiny allotment of these acquisition their way into Bitcoin, the amount would go hyperbolic.
3. Bitcoin Halving in May 2024
The abutting Bitcoin halving is advancing up about May 2020. This accident will drudge the mining block accolade in half.
Looking aback at actual patterns, Bitcoin amount tends to bang about a year afterwards anniversary antecedent halving. That may leave McAfee’s $2 actor bitcoin anticipation out of time by the end of 2024, but it could be a absoluteness for aboriginal 2024.
4. Governments Holding BTC in Central Bank Reserves
OK, so this may not accept happened yet. And it may be aloof starting with Venezuela because the option, but let’s booty a bound here.
If all countries chase the aforementioned trend as Pomp agilely believes, the amount of bitcoin could absolutely go to the moon.
5. A Global Recession in 2024
The board is still somewhat out on whether investors accede Bitcoin a safe-haven asset. However, as we’ve apparent afresh in Hong Kong, Venezuela, and Argentina back macro altitude are ripe, the banal markets tumble, and abounding investors alluvion against Bitcoin.
If economists are appropriate and there is a global recession abutting year, BTC could get a massive influx. With the network fundamentals bigger than ever, this could accelerate things into the stratosphere.
A $2 actor bitcoin by 2024 end? Highly unlikely. But there’s absolutely abeyant for Bitcoin to become so abundant added than it is today.
Do you anticipate Bitcoin will anytime ability $2 Million per coin? Add your thoughts below!
Images via Shutterstock, Twitter @APompliano, Fed blueprint by fred.stlouisfed.org, video via Youtube @AIBCsummit
