Vaneck Predicts Bitcoin Could Reach $2.9 Million by 2050.

Asset management firm Vaneck published a report titled “Bitcoin 2050 Valuation Scenarios: Global Medium of Exchange and Reserve Asset” last week. The report, prepared by the firm’s digital assets research team, led by Head of Digital Assets Research Matthew Sigel and Senior Investment Analyst Patrick Bush, explores the potential for bitcoin to reach a valuation of $2.9 million per coin by 2050.

“By 2050, we see bitcoin (BTC) solidifying its position as a key international medium of exchange, ultimately becoming one of the world’s reserve currencies,” they explained, adding: “It is conceivable that by 2050 bitcoin could be used to settle 10% of the globe’s international trade and 5% of the world’s domestic trade. This scenario would result in central banks holding 2.5% of their assets in BTC.