Asset Manager VanEck Predicts Bitcoin To Hit $3M By 2050 And This Is Why It May Not Be An ‘Extreme’ Estimate

In a massively bullish estimate, investment management company VanEck projected Bitcoin (CRYPTO: BTC) to hit $3 million in value in 2050.

What happened: During a CNBC interview on Monday, Matthew Sigel, the firm’s digital assets head, said that the projection may appear “extreme,” but when broken down to a 16% compound annual growth rate over the next two decades, it was reasonable.

Seigel said that the estimate stemmed from the company’s belief that Bitcoin would become a global reserve asset, used in global trade and held by central banks at a “modest” 2% weight. 

Full story available on Benzinga.com