How Much Do You Think The BTC Price Will Be?

How Much Do You Think The BTC Price Will Be?

Someone Thinks $1 Million.

There is a lot of speculation about the fair price of Bitcoin these days, some people say it should be zero, others expect the king of cryptocurrencies to soar right at $1 million per unit.

IBM’s vice president of Blockchain and digital currencies Jesse Lund, a former traditional banker who worked in Wells Fargo but he left behind its comfort zone for the cryptocurrency wilderness sphere, do believe that Bitcoin will eventually go as high as $1 Million. 

Why? In an interview with Fred Schebesta, Lund talked about the price not as the value of the coin itself but as the amount of liquidity the ecosystem can create around it. So, the higher the price is, the more instruments the bitcoin, or other cryptocurrencies, has to develop itself. And also, the more utility the network has.

Jesse Lund is a believer in new technologies and digital currencies, of course, but what it is interesting is his vision in what he thinks about the society in 15 years from now. People will ask themselves what paper money is? “Why should I wait three days to get my deposit?”

The generational change is the key topic according to Lund. In his interview with Schebesta, he highlighted that right now people don’t remember how was the world before the internet. So, in the same way, people will not remember what paper money was in fifteen years from now, and all financial exchange, or even currencies will have a far different face from what it is now.

In this framework, Bitcoin will not do anything else but go up in value, because the ecosystem and the network need it. The system will require more liquidity and the industry and people will provide it.

It’s Utility, Stupid!

“If the price of Bitcoin were higher, there would be more liquidity on the network, we could be having a really different discussion with banks right now,” Lund states. However, he also thinks that speculators are hurting the value of cryptocurrencies because they are getting it wrong.

Speculators are thinking of cryptocurrencies as a coin. They try to assign a value for each coin as they do in Forex or stock, but it isn’t in that way that Bitcoin works. The price of bitcoin depends on the value of the network. Lund considers that people should focus less on the volatility and the prices, and more on crypto assets’ utility. It is the key.

Lund sees the Bitcoin price to be at $5,000 per unit by the end of 2019, but he has a “longer-term outlook” on the price. He expects the BTC to go as high as a one million dollar per unit some day.

“I like that number because if Bitcoin’s at $1 million dollars, then the Satoshi is on value parity with the US penny,” says Lund. “And that means there’s over $20 trillion of liquidity in this network.”

Lund invites us to think about a network that has $20 trillion in liquidity, and how that changes processes like corporate payments or the reestructuración of wealth. 

Recently Similar News

cex-promotion exmo-promotion

Latest Guides

Latest News


For a Limited Time, You Can Get a Personalised CoolWallet S

Fancy getting yourself a Coolwallet with a personal touch? Then head over to  CoolWallet now and get yourself a customised wallet for you to store your crypto with your name on it. These new customised CoolWallet S cards are offered in a bid to make cryptocurrency investment more attractive to their users. And of course, […]

15 September, 2019

Another 2nd Anniversary Promo Announced at KuCoin, KuMEX FOMO

KuCoin is celebrating their 2nd anniversary and to celebrate they have detailed several new promotions, but it seems they aren’t over yet, with one more outlined for KuMEX FOMO. Earlier this week, we detailed 5 different promotions that will take place over the next 2 weeks, but now there is more which you can get […]

14 September, 2019
Coinbase,Coinbase PRo,Dash,Listings

Dash Set For Monday Coinbase Pro Listing

One of the most popular trading options in the crypto world, Dash, will go live for trading on Coinbase Pro from Monday, 16th September. While official trading will begin the following day at 9 am (PST) on Tuesday, 17th September, users will be able to begin depositing Dash to their Coinbase Pro accounts up to twelve hours […]

14 September, 2019
Exchange Platforms,Kraken,Listings,Tokens

ICX Now Available On Kraken

Kraken has unveiled the latest asset available for trading on their platform, ICX. The San Francisco-based outfit commenced trading for this new token, which was created by the South Korean blockchain project, ICON, yesterday, 12/09/2019.  However, ICON itself is no newbie to industry and in fact, is one of the oldest and largest blockchain ins […]

13 September, 2019
Binance USA,Launch,Updates,USA

Binance USA Opens Its Doors Next Week

The much-anticipated US trader targeted platform from Binance, Binance USA, will begin opening its door to traders from next week. The news has come at the perfect time for US traders who had previously been going about their day to day trading activity on the generic international Binance platform. This is because after Binance updated […]

12 September, 2019
Closure,Exchange Platforms,Updates

Ethfinex Reveal Further Details on Closure

Last month, Ethinex revealed that they would be shutting up shop in their existing format and rebranding as DeversiFi. While the transition period is on-going, they have detailed some important information about the final closure of their existing operational format. The first point of note in regards to this is the fact that a date […]

11 September, 2019
Exchange Platforms,Giveaway,KuCoin,Promotion

KuCoin Offer 2nd Anniversary Promotions Worth $450,000 to Users

KuCoin are about to celebrate their second anniversary and they want to thanks users with a flurry of new promotions offered on a number of crypto assets over the next two weeks. These new promotions cover a wide range of different trading options, eligibility requests and time limits. With this in mind, they should be enticing to a wide number […]

10 September, 2019
CEO,Exchange Platforms,localbitcoins

LocalBitcoins Name New CEO

Peer-to-peer trading platform, LocalBitcoins has had a shake around in boardroom, with Sebastian Sonntag being named as the new CEO. He will be taking over the reins from Nikolaus Kangas, who is the brother of Jeremias Kangas who founded the exchange platform back in 2012, after being “convinced of Bitcoin’s importance in a global economy”. […]

9 September, 2019