Bullish or nuts? Fidelity predicts $100M bitcoin in 2035

bryant.coleman

legendary

Activity: 3766

Merit: 1217

Quote from: mindrust on September 12, 2021, 08:05:06 AM

I think that's conservative prediction. I'd rather add another two zeros to that number. Think about it, bitcoin is limited supply but FIAT is unlimited. The FED printed one third of its whole balance sheet last year. On the other hand, you cannot print any more bitcoins. The fair value for a bitcoin is infinite amount of dollars.

Maybe. But the OP has given the target of 2035. I agree with your assessment that the fair value of BTC is infinite amount of United States Dollars. But do you expect us to reach that milestone anytime soon? It's not going to happen unless there is a total economic meltdown (i.e USD will become worthless). My immediate target is $500,000 by 2025. I will be selling around half of my coins at that level. Waiting until 2035 will be fun.. although I don't know whether I will be having any coins by then.

mindrust

legendary

Activity: 3276

Merit: 2442

I think that's conservative prediction. I'd rather add another two zeros to that number. Think about it, bitcoin is limited supply but FIAT is unlimited. The FED printed one third of its whole balance sheet last year. On the other hand, you cannot print any more bitcoins. The fair value for a bitcoin is infinite amount of dollars.

TheGreatPython

sr. member

Activity: 2660

Merit: 339

Quote from: Poker Player on August 29, 2021, 09:01:16 AM

I don't know what to think anymore, until not too long ago, professional investors either dismissed Bitcoin or said it was a scam, a ponzi scheme etc. Now it seems that they are changing their minds Saylor's style. In the case of Fidelity, it's not that they have changed their mind, as they started mining in 2014, but they have just come off the hook with a prediction that a couple of years ago would have seemed too crazy to us:

Fidelity Predicting $100 Million per Bitcoin by 2035

I’m not really a fan of all these speculations, but I’ve come trailers that it is part of the game so people are always going to do such things. As for this cryptocurrency reaching up to $100 million in 2035, I don’t really think there’s something that we should be talking about by now ‘cause that's still a long way to go. Moreover that price is too much, even gold that has been around for centuries hasn't achieved that yet. I think around that time most of these cryptocurrencies are going to be stable in price, and yes they’re definitely going to have a higher price then what we do have now.

NewRanger

sr. member

Activity: 1624

Merit: 341

Buzz App - Spin wheel, farm rewards

Quote from: noorammak on September 05, 2021, 08:35:12 AM

Bitcoin has existed for 11 years, we have seen the value of Bitcoin increase up to millions of times the value of the first transaction. Is there still 14 years left for Bitcoin to hit $100 million? Although the number of $ 100 million is too large, it is not without happening, especially with high inflation, excessive money printing from the Fed and Bitcoin's halving model.

there will alot global fundamental that will influence bitcoin price in future, we should not forget about political side which is much central bank will not let bitcoin price too high which is will give negative impact to them. more rational target price maybe around $250k which is many expert predicted.

Gyfts

legendary

Activity: 2828

Merit: 1515

Perhaps a slight hyperbolic title, but I want to point out, the largest currency in the world - USD, will absolutely collapse within the next couple decades. It is inevitable.

Another underwhelming jobs report - https://www.cnbc.com/2021/09/03/jobs-report-august-2021.html

Inflation will spiral out of control with so little people returning to work, and with a 5 percent inflation rate already, a labor shortage is only compounding the issue.

Also to consider - the Federal reserve balance sheet has steeply increased over the last 1.5 years, at an attempt of quantitative easing. They are essentially taking on assets that is injecting too much USD into the American economy. And interest is building on the trillions of US debt. Add this all together, and USD is done for, soon.

LUCKMCFLY

legendary

Activity: 2590

Merit: 1882

Leading Crypto Sports Betting & Casino Platform

Quote from: newwest on September 05, 2021, 12:13:21 PM

Quote from: noorammak on September 05, 2021, 08:35:12 AM

Bitcoin has existed for 11 years, we have seen the value of Bitcoin increase up to millions of times the value of the first transaction. Is there still 14 years left for Bitcoin to hit $100 million? Although the number of $ 100 million is too large, it is not without happening, especially with high inflation, excessive money printing from the Fed and Bitcoin's halving model.

Well even if it reaches 10% of the predicted amount its a very gigantic thing that could happen. Such predictions are not for real to me and I believe in more realistic ones. Though if it reaches I would be more than happy to be wrong but one thing that is sure is that the future is bright as always.

Although the price is excessive for BTC, it is likely that if it grows over time but at this time or at least in these 2 years I do not see likely that BTC will rise that much, I am not saying that it is impossible, but it really is very difficult for that reaches $ 100M. For now, it is expected to reach a first target such as $ 100k, but everything is in the prospects that are in the market for now.

The volatility of BTC is being a great ingredient in the market, at any moment it can take a good turn, I think that as the years go by if it can reach a target equal to or even higher than $1M.

Silberman

legendary

Activity: 2534

Merit: 1338

Quote from: Sithara007 on September 04, 2021, 10:20:18 PM

Quote from: Silberman on September 04, 2021, 02:32:49 PM

I think the only way for that prediction to be true is through hyperinflation otherwise I am not so sure the economy of the world and all the wealth accumulated is enough to cover that kind of price for bitcoin, but whatever the case I think we can all recognize that the price of bitcoin is going to be very high and this is good for us because that means that even our small holdings are going to be incredibly valuable in the future.

Agreed. But there is a catch. In case there is hyperinflation, then it doesn't make any sense to denominate the prices in inflated currency. We should be rather using a price prior to the start of the hyperinflation. For example, if by 2035 the purchasing power of the US Dollar goes down by 1,000 times, then while quoting the exchange rates of Bitcoin, we should be using the 2021 US Dollar, and not the 2035 USD. That means that some asset that is worth 100 million in 2035 will be having the purchasing power of just $100,000 (in 2021 Dollars).

That is without a doubt one way to do it, another way is just to think how much of other assets bitcoin buys at this time and how much it would buy at the time, for example in the case of gold we know its price in dollars one century ago and we know its price right now and what it could buy back then and what it can buy right now, for example 10 oz bought you one of Henry Ford’s cars, now one century later you can still buy a car with 10 oz of gold so we know that gold is in fact a store of value, bitcoin due to its recent creation does not have this kind of history however now it can buy you a very nice car and I expect that if we go through hyperinflation it could buy you several nice cars in the future, indicating a reevaluation taking place despite fiat crashing in the process.

wahyu wida

full member

Activity: 826

Merit: 100

Quote from: jaysabi on September 05, 2021, 12:23:26 AM

Quote from: Poker Player on August 29, 2021, 09:01:16 AM

I don't know what to think anymore, until not too long ago, professional investors either dismissed Bitcoin or said it was a scam, a ponzi scheme etc. Now it seems that they are changing their minds Saylor's style. In the case of Fidelity, it's not that they have changed their mind, as they started mining in 2014, but they have just come off the hook with a prediction that a couple of years ago would have seemed too crazy to us:

Fidelity Predicting $100 Million per Bitcoin by 2035

"...the firm is putting out bullish reports on Bitcoin and sees the leading digital asset hitting $1 million before this decade is over and a whopping $100 million by 2035.

This much hopium was difficult to digest for some as one Redditor noted, “Bitcoin is not gonna reach $100 million. That would give it a market cap of $2,100 trillion. The total wealth of the entire world is $418 trillion.”

I suppose that here they take into account inflation by massive printing, because otherwise it is simply impossible.

Honestly it just looks like someone who was desperate to make headlines because nobody with a functioning brain would take this seriously. As the article points out, with would give bitcoin a market cap 5x the total wealth of the entire world, which puts it firmly in the realm of technically impossible. People who make such reckless predictions for attention should be permanently black booked from participating in future discussions.

no one knows for sure bitcoin for the future. indeed looking at bitcoin today as if nothing is impossible, even many people predict bitcoin will reach a very expensive price. but are in our shadows my sweet things that we remember. Of course we also have to take into account the risks that we will bear. if most countries legalize bitcoin, maybe our expectations will come true, but what happens later we will never know what will happen

Timelord2067

legendary

Activity: 3696

Merit: 2219

💲🏎️💨🚓

Quote from: noorammak on September 05, 2021, 08:35:12 AM

Bitcoin has existed for 11 years, we have seen the value of Bitcoin increase up to millions of times the value of the first transaction. Is there still 14 years left for Bitcoin to hit $100 million? Although the number of $ 100 million is too large, it is not without happening, especially with high inflation, excessive money printing from the Fed and Bitcoin's halving model.

It's the age old adage of cryptocurrencies: (especially bitcoin in particular) 21 million bitcoins Versus 7 thousand-million (short form: seven billion) inhabitants of this great big blue and green planet.

I think the last time I worked it out it was something like 0.0005 BTC for each and every person living. (My advice is make a paper wallet with that amount and save it for your retirement) Grin

newwest

member

Activity: 686

Merit: 26

★777Coin.com★ Fun BTC Casino!

Quote from: noorammak on September 05, 2021, 08:35:12 AM

Bitcoin has existed for 11 years, we have seen the value of Bitcoin increase up to millions of times the value of the first transaction. Is there still 14 years left for Bitcoin to hit $100 million? Although the number of $ 100 million is too large, it is not without happening, especially with high inflation, excessive money printing from the Fed and Bitcoin's halving model.

Well even if it reaches 10% of the predicted amount its a very gigantic thing that could happen. Such predictions are not for real to me and I believe in more realistic ones. Though if it reaches I would be more than happy to be wrong but one thing that is sure is that the future is bright as always.

noorammak

member

Activity: 490

Merit: 11

Bitcoin has existed for 11 years, we have seen the value of Bitcoin increase up to millions of times the value of the first transaction. Is there still 14 years left for Bitcoin to hit $100 million? Although the number of $ 100 million is too large, it is not without happening, especially with high inflation, excessive money printing from the Fed and Bitcoin's halving model.

jaysabi

legendary

Activity: 2044

Merit: 1115

★777Coin.com★ Fun BTC Casino!

Quote from: Poker Player on August 29, 2021, 09:01:16 AM

I don't know what to think anymore, until not too long ago, professional investors either dismissed Bitcoin or said it was a scam, a ponzi scheme etc. Now it seems that they are changing their minds Saylor's style. In the case of Fidelity, it's not that they have changed their mind, as they started mining in 2014, but they have just come off the hook with a prediction that a couple of years ago would have seemed too crazy to us:

Fidelity Predicting $100 Million per Bitcoin by 2035

"...the firm is putting out bullish reports on Bitcoin and sees the leading digital asset hitting $1 million before this decade is over and a whopping $100 million by 2035.

This much hopium was difficult to digest for some as one Redditor noted, “Bitcoin is not gonna reach $100 million. That would give it a market cap of $2,100 trillion. The total wealth of the entire world is $418 trillion.”

I suppose that here they take into account inflation by massive printing, because otherwise it is simply impossible.

Honestly it just looks like someone who was desperate to make headlines because nobody with a functioning brain would take this seriously. As the article points out, with would give bitcoin a market cap 5x the total wealth of the entire world, which puts it firmly in the realm of technically impossible. People who make such reckless predictions for attention should be permanently black booked from participating in future discussions.

xypos

sr. member

Activity: 532

Merit: 250

Don't think that they're nuts.

Institutions generally have fairly accurate reasons as to why they would predict something to happen. They don't just put out random DDs like the WSB crowd.

Even though this might seem like a far fetched idea, it really is not given the fact that fiat is an ever depreciating asset that will eventually go to zero. BTC, if it indeed becomes the store of value in the world, would definitely reach these sort of valuations as a matter of time.

Sithara007

legendary

Activity: 3346

Merit: 1352

Leading Crypto Sports Betting & Casino Platform

Quote from: Silberman on September 04, 2021, 02:32:49 PM

I think the only way for that prediction to be true is through hyperinflation otherwise I am not so sure the economy of the world and all the wealth accumulated is enough to cover that kind of price for bitcoin, but whatever the case I think we can all recognize that the price of bitcoin is going to be very high and this is good for us because that means that even our small holdings are going to be incredibly valuable in the future.

Agreed. But there is a catch. In case there is hyperinflation, then it doesn't make any sense to denominate the prices in inflated currency. We should be rather using a price prior to the start of the hyperinflation. For example, if by 2035 the purchasing power of the US Dollar goes down by 1,000 times, then while quoting the exchange rates of Bitcoin, we should be using the 2021 US Dollar, and not the 2035 USD. That means that some asset that is worth 100 million in 2035 will be having the purchasing power of just $100,000 (in 2021 Dollars).

Wakate

hero member

Activity: 1176

Merit: 543

fillippone - Winner contest Pizza 2022

Quote from: Poker Player on August 29, 2021, 09:01:16 AM

I don't know what to think anymore, until not too long ago, professional investors either dismissed Bitcoin or said it was a scam, a ponzi scheme etc. Now it seems that they are changing their minds Saylor's style. In the case of Fidelity, it's not that they have changed their mind, as they started mining in 2014, but they have just come off the hook with a prediction that a couple of years ago would have seemed too crazy to us:

Fidelity Predicting $100 Million per Bitcoin by 2035

"...the firm is putting out bullish reports on Bitcoin and sees the leading digital asset hitting $1 million before this decade is over and a whopping $100 million by 2035.

This much hopium was difficult to digest for some as one Redditor noted, “Bitcoin is not gonna reach $100 million. That would give it a market cap of $2,100 trillion. The total wealth of the entire world is $418 trillion.”

I suppose that here they take into account inflation by massive printing, because otherwise it is simply impossible.

Nice prediction but I know there not impossible with cryptocurrency. I could remember years back when people where agitating that Bitcoin can never reach $30k because based on there ideology, no one will buy it due to the price of being too expensive to hold. They lack knowledge which is the reason why many persons are still in there stagnant Condition till today. We needs to open our mind to debugging our dogma to have a good feel about life and what it can offer.

Bitcoin can even surpass the speculation of reach $100m which I know cryptocurrency is very volatile and can do more than we have anticipated.

Silberman

legendary

Activity: 2534

Merit: 1338

Quote from: kryptqnick on September 02, 2021, 04:04:13 AM

I think 100 million per coin is nuts, but they're probably making this prediction intentionally because they want to pump the price as much as they can and profit from it (they are not a disinterested party), but like a few years ago, financial experts were saying Bitcoin would go down to zero (which is clearly an overstatement) because they thought they could kill it and keep doing their traditional investments safely. Even considering what dkbit98 is pointing out that 100 million in 15 years is not 100 million now, unless they mean that dollar would become pretty worthless and suffer from hyperinflation, I don't think Bitcoin will be worth that much.

I think the only way for that prediction to be true is through hyperinflation otherwise I am not so sure the economy of the world and all the wealth accumulated is enough to cover that kind of price for bitcoin, but whatever the case I think we can all recognize that the price of bitcoin is going to be very high and this is good for us because that means that even our small holdings are going to be incredibly valuable in the future.

Bitstar_coin

hero member

Activity: 2478

Merit: 695

SecureShift.io | Crypto-Exchange

2035 is a long way ahead, who knows what could happen by that time, it is possible btc will attain such high level of price because as we can only assume that btc would be widely adopted and accepted, used for transaction in every part of the world as the main currency, btc value will increase a whole lot more because probably everyone is usingit.

gagux123

hero member

Activity: 1554

Merit: 814

The Alliance Of Bitcointalk Translators - ENG>POR

Look, I confess this is a high price, maybe stratospheric and very optimistic.

Well, I don't know, but I believe for the BTC value reach $100M until 2035, I think the current economy needs to collapse and have a worldwide accession to Bitcoin.

I performed some calculations and so I think it's unlikely (in my humble opinion)

If we look at the current BTC circulation of approximately 18,800,000 units of BTC and apply the value of $100M per unit, your marketcap will be approximately almost $2 quadrillion.
This value is around 1,997 times greater than the current marketcap of Bitcoin (~ $941,800,517,584) and approximately 827 times greater than the current marketcap of all cryptoactives (~ $2,274,493,567,936)
And that's one of the reasons I think Bitcoin's value is unlikely to reach until 2035.

Quote from: The Sceptical Chymist on August 29, 2021, 10:03:57 AM

In any case, this is a throwaway prediction IMO. They're speculating on bitcoin's price 14 years from now, and nobody is going to remember their prediction that long into the future unless someone goes digging for it. My guess is that there's an ulterior motive behind their statement, since it seems incredibly bullish to say the least. They're probably trying to give bitcoin some hype for their personal gain directly or for their customers. And yeah, I'm being very cynical but that's what I think.

What @The Pharmacist said has a lot of nexus, and I also agree with him, they are probably wanting to "inflate" the value with these rumors to have some kind of personal advantage.

ps: these numbers are not entirely accurate and were taken from the coinmarketcap website.
I made these calculations to get a sense of these numbers

TheGreatPython

sr. member

Activity: 2660

Merit: 339

Quote from: Poker Player on August 29, 2021, 09:01:16 AM

I don't know what to think anymore, until not too long ago, professional investors either dismissed Bitcoin or said it was a scam, a ponzi scheme etc. Now it seems that they are changing their minds Saylor's style. In the case of Fidelity, it's not that they have changed their mind, as they started mining in 2014, but they have just come off the hook with a prediction that a couple of years ago would have seemed too crazy to us:

We can’t say for sure, but with time we will get to know whether it will reach that or not. But anyways, that is a very long time, so I am not bothering myself what’s going to happen then, for now let’s think of the future that’s nearest before we talk about what’s going to happen in so many years.

I can’t tell you for sure where we are really heading with this, but I know very well that companies like this are fond of over expectation, they always say things that are impossible to happen at a particular time. Although I am not saying it’s not possible, but happening at that time? I can’t really believe it.

_Miracle

hero member

Activity: 912

Merit: 661

Do due diligence

I'm just so amused right now at the thought of my 401k mining bitcoin for me even after I've stopped Grin

*I can't stop wondering if they got the mining bug like I did and continue to buy faster/more efficient gear lollollol

Topic: Bullish or nuts? Fidelity predicts $100M bitcoin in 2035 (Read 538 times)