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In the rapidly evolving cryptocurrency landscape, the adoption of Bitcoin, as well as other cryptocurrencies, is significantly surging. In an interview with local media, the Chief Executive Officer (CEO) of the Chamber of Digital Commerce, Perianne Boring, stated that if this rapid adoption of Bitcoin continues, we may see a million-dollar valuation by 2029 in Bitcoin price. Perianne Boring’s justification for BTC’s potential surge 
Boring not only made a statement but also justified why she thinks the BTC price will reach $1 million. During the interview, she highlighted that the <a href="https://news.todayq.com/nfts-to-make-a-comeback-with-bitcoin-ath-in-2024-predicts-vaneck/" rel="noopener noreferrer nofollow">fair value of Bitcoin</a> is somewhere between $100,000 and $210,000 per coin. Additionally, she stressed the limited supply of Bitcoin as a key feature of this technology, and widespread adoption is a trigger for a significant price surge in the coming years.
Boring also explained that she and her firm use a valuation model to understand the value of Bitcoin today. The real question is what investors need to understand about the value. Her firm employs four different valuation models, and according to their analysis, the price of Bitcoin is currently valued between $100,000 and $210,000 per BTC. They also apply S-curve analysis to examine the long-term adoption of BTC. US Cryptocurrency adoption to reach 90% by 2029, says CEO 
According to her analysis, the current adoption rate of cryptocurrency in the United States stands at around 40%, meaning 40% of US households own some form of digital currency. Boring predicts that this figure will soar to 90% by 2029, attributing the potential spike in Bitcoin’s value to its limited supply, a fundamental characteristic of the technology.
“We are on track for 90% adoption by 2029. Once we hit that 90% adoption, prices could go as high as $1 million a coin because, again, Bitcoin has that limited supply, which is a key feature of this technology,” she added.
Currently, at the time of writing, Bitcoin is trading near $43,000, and in the last 24 hours, it experienced a fair 0.07% upside price movement. However, if we examine the BTC price over a longer period, BTC surged over 15% in the last 30 days, highlightingthe adoption and confidence of investors and institutions. 
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Bitcoin fair valued at $100k-$210k, says Chamber of Digital Commerce’s CEO

Todayq News

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