Bitcoin

Jesse Myers, a hedge fund manager, believes Bitcoin is on its way to a staggering $10 million per BTC. Myers explains the math and timeline behind his big prediction in a new interview with Coin Stories.According to Myers, Bitcoin is emerging as a hard and scarce store of value in a world of rising debt and currency depreciation. "We have now entered an era in which the value proposition of holding bonds or holding fiat money is very bad, because the national debt and unfunded liabilities will require a level of printing that will outpace the nominal yield on holding bonds in the future."That is the only way out for us. In the United States alone, we now have $31 trillion in national debt and $170 trillion in unfunded liabilities. Then you're talking about $3 trillion in interest expense per year when our budget is already running a multi-trillion-dollar deficit. So you're talking about a $4 trillion dollar deficit in the future that you'll have to print to make up for… So, in terms of where people have their value parked, that's what Bitcoin is competing with as the lowest hanging fruit."According to Myers, Bitcoin competes in an asset world worth approximately $900 trillion, with a current level of global crypto adoption far lower than some analysts believe."The question is how much Bitcoin can win, how much value Bitcoin can actually take here." It is currently worth $400 billion in a sea worth $900 trillion. That means it's 1/2000th of the world's value, and the world as a whole has a 0.05% allocation to Bitcoin."According to Myers, Bitcoin's maximum supply of 21 million BTC will cause a massive supply shock as the leading cryptocurrency's adoption rate rises. He then deconstructs the math that leads him to $10 million per BTC in today's dollars, with Bitcoin capturing half of gold's market cap as well as additional percentages of the world's top store of value categories.Myers says the key factor in his timeline is how long it will take for the general public to gradually learn more about Bitcoin and understand its true value proposition. He believes that his price target will be met within the next few decades."I believe we have entered the Bitcoin era, with BTC serving as a major, if not primary, pillar of your personal savings strategy." And it will take a generation for people to fully comprehend the situation.So, when I say Bitcoin has a conservative chance of becoming $10 million in today's dollars, I mean it will go from 0.05% of the world's value to 25% of the world's value. Bitcoin will simply suck it in, ingesting it like a black hole. That's what I believe we've begun, and it will only be clear in retrospect that those are the mechanics that were unfolding right in front of people's eyes while everyone was convinced that this was just Monopoly money."When it comes to potential threats to Bitcoin's future, Myers says regulatory roadblocks are a top priority. He also believes that Bitcoin's virality is critical to its future, and that those who understand its benefits must spread the word and educate the next generation of investors.

Bitcoin Price Will Shatter $10M Per BTC, Says Hedge Fund Manager Jesse Myers – Here’s His Timeline

ItsBitcoinWorld

Other articles published on Apr 5, 2023

It’s Crew3 XP distribution time!

LimeChain Drives Web3 Innovation, Enhancing the Global Market

Coinbase Crypto Lobbying Expenditure Rose 4137% in the Last 6 Years

Paima Studios Integrates Non-Custodial On-Chain Gaming to Cardano

Bitcoin Once Again at Critical Resistance Zone! Will it Break Through?

If Litecoin Breaks the Critical Resistance Level, What Will be its Target in Dollars?

Join our free newsletter for daily crypto updates!