The expert in finance, economy and digitization Alexánder Puutio lists in an article published this Friday in Forbes why you believe that the price of bitcoin – which recently broke its all-time high by hitting the $ 66,283– will probably exceed the $ 100,000 in a few years.
The first reason that the economist exposes lies in the fact that cryptocurrencies are still in an initial phase and have a long way to go to reach their “ripening peak“Just last year, according Chainalysis, cryptocurrency adoption rates recorded growth of 881%.
“The adoption of bitcoin has been particularly strong in Asian countries such as India, Pakistan and Vietnam, where recent analyzes have found that more than 40% of those surveyed have cryptocurrencies, “Puutio stresses.” To get an idea of how far systemic adoption is in the West, compare this figure with the fact that less than 10% of respondents in the UK and US admit to owning crypto. “
This is an indicator that cryptocurrencies, especially in the West, have a wide potential user base.
At the same time, El Salvador recently became the first country in the world to adopt bitcoin as legal tender and, according to Puutio, “more than 80% of central banks around the world are actively engaged with digital currencies.”
The second reason that Puutio raises is the fact that, like gold, bitcoin “provides a solid safety net against inflation, global turmoil and any other deception that the market may throw at an investor, “so the demand for this and other cryptocurrencies it will only grow.
“The last few years have given us an idea of how our future will probably be marked by geopolitical insecurity and the worsening ravages of climate change and man-made disasters,” the expert writes. “In an increasingly unstable context, the unique combination of defensive prowess and speculative appeal of Bitcoin makes it more future-proof than many other asset classes today. “
Finally, Puutio points out that there are only 21 million bitcoins and that to date approximately 18.4 million. Of these, between 10 and 30% are out of the market, due to lost passwords, hardware failures, and the like. Therefore, it is a limited resource.
“A decrease in supply, coupled with a growth in demand, will lead to a inevitable increase in price“concludes Puutio.” In general, there are good reasons to believe that the 60,000 [dólares] it won’t spell the end of the bull run and while it is sure to be a bumpy ride, things are looking good for those willing to buy and hold. [bitcoines]”.