By CCN: Bitcoin price predictions are a dime a dozen. They can go anywhere from zero to over a million dollars. Some bettors like John McAfee are so confident that they are ready to go through absurd lengths (such as consuming their own member) to show their conviction. Do these crazy predictions hold ground?
We scoured the web and discovered that John McAfee is not alone in his prediction that the king of cryptocurrencies will reach a million dollar valuation. Here are the most insane bitcoin predictions bravely shared by reputable financial figures.
John McAfee isn’t the only perma-bull on bitcoin. | Source: Twitter
Jesse Lund, Former VP of Blockchain and Digital Currencies for IBM
The former IBM executive is a bitcoin bull after stating during an interview that the price of BTC will eventually tap $1 million. In the interview, Lund says that at $1 million, a Satoshi would equal one U.S. penny. He also noted that liquidity would skyrocket to over $20 trillion if one bitcoin is valued at $1 million. In his view, the $20 trillion liquidity would be a massive game-changer in the global financial services sector.
The bitcoin price is up by a triple-digit percentage year-to-date. | Source: CoinMarketCap
Wences Casares, Member, PayPal Board of Directors
Casares also hopped on the bitcoin $1 million valuation, but his prediction comes with a somewhat reasonable timeframe. According to the newest addition to PayPal’s board of directors: “One bitcoin may be worth more than $1 million in seven-to-10 years.” In his forecast, Casares emphasized stats that are often overlooked such as:
- Ten years of uninterrupted progress
- Over 60 million holders
- 1 million new holders each month
- Global transactions of over $1 billion per day
Julian Hosp, Author and Crypto Analyst
Like Casares, Hosp is also a big believer that bitcoin will hit $1 million in the next decade. To make this prediction, he relied on the metric called the stock-to-flow ratio. The metric computes the current supply of the asset and divides it by the annual amount produced to estimate future valuation. Using this ratio to compute for bitcoin’s future value, the limited supply of 21 million coins will eventually play a huge factor.