Bitcoin super bulls believe it will eventually reach $1 million and become a reserve currency

Source: Sina Finance With the bitcoin price breaking through $52000, a bitcoin super bull in the United States believes that the price of this cryptocurrency may reach $1 million in the long term and become the global reserve currency. Anthony pompliano, co-founder and partner of Morgan Creek digital assets, a cryptocurrency hedge fund, said on Wednesday that bitcoin prices could reach $500000 by 2030 and could eventually reach $1m, but did not give a timetable. “I think bitcoin will eventually become the global reserve currency,” he said. I think the market value of bitcoin will eventually far exceed that of gold. ” “Trillions of dollars have been printed and injected into the economy, and everyone, from individuals to financial institutions and companies, is looking around the world for the best way to protect their purchasing power, and they finally decided to use bitcoin,” pompriano said, explaining the reasons behind the recent rise in bitcoin The bitcoin superstar’s prediction is based on several factors, including the scarcity of bitcoin (up to 21 million), and the decentralized nature of the technology, which does not have a central institution like the central bank to control it. Instead, the so-called bitcoin network is made up of miners who process transactions, who operate a large number of specialized computers to mine. Because there are so many different miners, no single entity can control the entire network. Moreover, because the computers they use are usually very powerful machines, bitcoin supporters claim that the network is one of the most powerful computer networks in the world. “As more and more people enter the market, liquidity will increase,” pompriano said. The greater the liquidity, the greater the utility. As the utility increases, the price becomes more stable You’ll see this evolution. ” “If you think about the Internet economy, you’ll see that there’s no currency that’s born with it (bitcoin) will eventually become the global reserve currency of the Internet generation. ”

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