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In a recent article on BusinessInsider.com Jeremy Lieu the first investor in Snapchat predicts Bitcoin will reach $500,000 by 2030.
Bitcoin
Here are three reasons why:
International Electronic Money Transfers
Data from the World bank shows Remittance transfers, or electronic money transfers to foreign countries, have almost doubled over the past 15 years and while we can't always depend on the past to determine future behavior we certainly have no evidence suggesting the market will behave otherwise.Global Uncertainty
Jeremy believes geo political uncertainty will increase the value of Bitcoin.
"We believe Bitcoin awareness, high liquidity, ease of transport and continued market outperformance as geopolitical risks mount, will make Bitcoin a strong contender for investment at a consumer and investor level," he's says.
- Mobile Penetration
The article explains there's only a 63% global smartphone penetration and that the total number of smartphone users is expected to soar by 1 billion by 2020. Bitcoin's user network grew from 120,000 users in 2013 to 6.5 million users in 2017. More users could account to more transactions. By 2030 Bitcoin supply will be about 20 million, only increasing the demand. Mr. Lieu believes this is all reasonoble and Bitcoin will reach $500,000 by 2030.
Let's hope he's correct.
Link to article
http://www.businessinsider.com/bitcoi...
