Brian Estes, the CEO and CIO of the investment fund Off The Chain Capital, revealed his prediction on the price of bitcoin (BTC) for the coming years during his participation in the Bitcoin 2022 convention in Miami.
The investment specialist explained what the high adoption it has had bitcoin It is the reason that has made it rise so much in price since its creation. At this time, a BTC is trading above USD 43,600, according to the CriptoNoticias calculator and believes that this is a small figure for the cryptocurrency, which envisions that it will continue to have exponential growth.
As an example, Brian Estes indicated that currently 25% of households in the United States have bitcoin. Considering that the cryptocurrency is only thirteen years old since its origin in 2009, he envisions that by 2029 90% of Americans will have BTC, as the following graph shows. Something that he believes will be replicated in other countries, perhaps even earlier, such as in El Salvador for having adopted it as legal tender.
Advertising
Due to its growing adoption, Brian Estes warns that from his perspective, Bitcoin is no longer in its infancy, but rather in its second stage of life. The specialist estimates that in 2019 a break was formed that made its use increase faster.
Therefore, consider that now we are in the best moment of life bitcoin to enter. And under this idea, he maintains that before 2019 it was too early to see its value over time and after 2029 it will be too late to enter.
He thinks this because he believes that the great adoption that it supposes that it will have in the next seven years could cause the price of bitcoin to rise ten times or even more. In this way, from that year on, a third stage would begin for its market, as colored in violet in the previous graph.
Bitcoin could be worth $1,000,000 by 2024, according to Estes
Brian Estes commented that the more people use bitcoin, the more its price will increase. Therefore, he made a caveat on this. He estimated that there is something that makes him believe that its value will increase more than ten times and should not be overestimated.
“As businesses and banks get involved and become critical mass, the level of activity per user will really start to mirror traditional financial services,” he said. Thus, he made it clear that actual realized value could be much higher, even $1,000,000 per bitcoin by 2024.
This prediction goes hand in hand with that of other specialists who have also released greedy figures. CriptoNoticias has recently reported that of the content creator on cryptocurrencies, MMCrypto, which visualizes the price of bitcoin at USD 5,000,000 in the coming years and in a shorter term at USD 100,000 before the end of 2022, a closer figure in which they coincide different analysts.