According to a top crypto pundit, the price of Bitcoin could surge to insanely high levels that holding a full unit of the asset would become unbelievable.
Notably, this daring comment comes a few months after the price of the pioneering cryptocurrency reached a new milestone above six figures. Specifically, BTC attained a new all-time high of $109,300 in January, a remarkable milestone considering the asset was once under $1.
Interestingly, Bitcoin’s current price already makes it difficult for an average-income individual to hold a whole unit. It currently trades at $94,533, trouncing the national average salary of $66,622 this year.
Bitcoin Will Become Increasingly Expensive
Nonetheless, prominent crypto pundit Lark Davis has suggested that Bitcoin will become more expensive in relation to fiat currencies. In a recent tweet, he speculated that holding one BTC will be “absurd” in the next few years.
While he did not provide further context, his post’s narrative hovers around buying as many BTC as possible, as the currency could continue its upward trajectory against fiat. As this happens, as little as 1 BTC would be worth a fortune for those who leveraged this opportunity to acquire the asset.
Interestingly, Davis is not alone in this opinion. Recently, American venture capitalist Tim Draper predicted that Bitcoin would increase “infinitely” against the US dollar, urging a divestment from traditional financial instruments to stack the asset.
Possible Timelines for Insane Bitcoin Prices
Notably, these commentaries come amid speculations that Bitcoin will attain ambitious price levels in the near and long term. Market experts have projected a $1 million, $2 million, and even a staggering $13 million target for the coin.
For context, Ark Invest’s Cathie Wood predicted that Bitcoin would reach $1 million within the next five years in a base case scenario. In a bull market condition, she expects the digital currency to appreciate further to $2.4 million per coin. Interestingly, several other market watchers align with this price target and timeline, including Swan Bitcoin and 21 Capital’s Sina.
However, Bitcoin evangelist and Strategy executive chairman Michael Saylor envisages a surge to $13 million in the next 20 years. He based this bold claim on the asset claiming 7% of the global wealth, as high-net-worth individuals and institutions adopt it.
In the meantime, Bitcoin trades at $94,533, an appealing price for investors who believe in this long-term trajectory.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.