Bitcoin Price Predicted to Be ‘In the Millions’ In The Coming Years
While the ongoing geopolitical crisis takes its toll on the global financial market, Bitcoin is set for a breakthrough this year, thanks to inflation.
Gold might not even outperform Bitcoin in 2022, according to senior Bloomberg analyst Mike McGlone.
McGlone believes that the rate-hike sprint signaled by the Fed could be beneficial to the ‘maturation’ of Bitcoin as an asset class. He also claims that the digital currency would even surpass gold in terms of returns.
Meanwhile, former BitMex CEO Arthur Hayes foresees dramatic changes for both assets in the near future. He asserted that a few years after the war, hard money instruments could rule all of global trade.
In the end, however, gold and Bitcoin should be more relevant amid the dwindling participation in the US dollar and euro standard from other governments. Gold could be five figures an ounce and a single Bitcoin could cost a whopping million dollars.
“That is the magnitude of fiat denominated price that will occur in the coming years as global trade is settled via neutral hard monetary instruments and not the debt-backed fiat currencies of the West.”