Topic: Bullish or nuts? Fidelity predicts $100M bitcoin in 2035 - page 3. (Read 538 times)
I myself am a very optimistic person in this area, but I see that we are hoping too much for an uncertain future. There are now reasons for a major change to take place, but I still don't see the scale of it. Thinking a bit about the future when inflation is super terrible, will we care about physical assets, maybe btc will be the representative to do that and no one will ask how much USD,... but instead maybe some kind of crypto will be available in the future.
Even $5.7 million would mean a market cap in excess of $100 trillion
I think that market cap misleads greatly. I think that only the coins in circulation matter and their number is bound to decrease greatly in the next 10-15 years, since Bitcoin will be used as reserve asset by everybody. So everybody will be rich on paper, but the world economy will not be that much affected. (I'm not sure I expressed well enough my idea, but I hope it made sense).
There is about 13.5 years left to 2035, middle of it is 14 years away. So when we consider that, I think it is not impossible, sure it looks a bit impossible from here because that is a huge increase, but I always believed that bitcoin would continue to go up forever, eventually to 100 million as well. Will it be that soon? I am not so sure, I know it will be few million dollars at least in 14 years that is guaranteed in my brain (do not buy just because I said so) but 100 million and few million are different things.
So for example, if bitcoin is 5.7 million dollars by 2035 I would not be shocked, that would be expected for me and that's fine, however if it is 100 million then I would be a little surprised because even though I believe it will be 100+ million "one day" that is not this soon, I am expecting it to be 2040+ for that to happen honestly.
So for example, if bitcoin is 5.7 million dollars by 2035 I would not be shocked, that would be expected for me and that's fine, however if it is 100 million then I would be a little surprised because even though I believe it will be 100+ million "one day" that is not this soon, I am expecting it to be 2040+ for that to happen honestly.
Are you not being a bit far too optimistic, when you predict $5.7 million per coin by 2035? For that, the global economy needs to collapse completely and the fiat currencies need to get wiped out. Even $5.7 million would mean a market cap in excess of $100 trillion, which is greater than the M1 monetary supply right now. Factoring in the inflation rate up to 2035, it may be possible to reach that figure. But again, it needs a complete replacement of fiat currencies. Is that a realistic scenario?
~snip~
There is about 13.5 years left to 2035, middle of it is 14 years away. So when we consider that, I think it is not impossible, sure it looks a bit impossible from here because that is a huge increase, but I always believed that bitcoin would continue to go up forever, eventually to 100 million as well. Will it be that soon? I am not so sure, I know it will be few million dollars at least in 14 years that is guaranteed in my brain (do not buy just because I said so) but 100 million and few million are different things.So for example, if bitcoin is 5.7 million dollars by 2035 I would not be shocked, that would be expected for me and that's fine, however if it is 100 million then I would be a little surprised because even though I believe it will be 100+ million "one day" that is not this soon, I am expecting it to be 2040+ for that to happen honestly.
15 years, 20 years might be too soon. It's not impossible but it's close to that. Just like the OP said $100m per Bitcoin means $2,100T market cap and that's 5 times the total of world's wealth.
Now, for that to happen the world needs to have super inflation and print more money. But, $100M doesn't value the same as it's value today. The purchasing power of such value will surely decrease.
IMO, these companies are just putting an overly predicted figures to attract investors, of course for their own personal gain.
What is the most bullish scenario we could ever imagine? For me, it is fiat currencies collapsing due to ballooning federal debt and hyperinflation. Under such a scenario, assets such as gold and bitcoin, which are protected against inflation will be in high demand. Now the question is whether the figure of $2 quadrillion USD is fair. For me, it is noway near reality, and even under the most bullish scenario, we won't be able to reach that figure. But I have to agree that 2035 is a long way away. Still 14 years to go... and Bitcoin has been in existence for only 12 years.
There is about 13.5 years left to 2035, middle of it is 14 years away. So when we consider that, I think it is not impossible, sure it looks a bit impossible from here because that is a huge increase, but I always believed that bitcoin would continue to go up forever, eventually to 100 million as well. Will it be that soon? I am not so sure, I know it will be few million dollars at least in 14 years that is guaranteed in my brain (do not buy just because I said so) but 100 million and few million are different things.So for example, if bitcoin is 5.7 million dollars by 2035 I would not be shocked, that would be expected for me and that's fine, however if it is 100 million then I would be a little surprised because even though I believe it will be 100+ million "one day" that is not this soon, I am expecting it to be 2040+ for that to happen honestly.
Nonsensical prediction. Anyone can make such wild predictions. Nuts is the appropriate answer to this question in my opinion. Would you call me nuts if I predicted that BTC would drop to a $1 by 2035?
Honestly, after all the rallies and crashes over time, I learnt that the current price of BTC matters more than its past price or future price(Present matters more than the Past and Future).
Honestly, after all the rallies and crashes over time, I learnt that the current price of BTC matters more than its past price or future price(Present matters more than the Past and Future).
I know nothing is impossible for bitcoin. but 100M in just 14 years is no longer a logical prediction. he's just making statements to make people believe how valuable bitcoin is, without making any reasonable analysis. I would believe it if he said bitcoin would hit 1M in 2035. but if it's 100M, that's too much in my opinion.
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Bitcoin was a speculative asset and every prediction should be welcome but the prediction made by the Boston-based investment giant Fidelity Group is not an insane prediction base on my calculation and research by the year 2035 almost 99% of bitcoin will be mined so the demand will be high while the supply will low. However, this could also be the moment for some huge holders to manipulate the price of the Bitcoin market.
Meanwhile, this member of this forum kronos123 has already made a price prediction about this since the year 2018.
Meanwhile, this member of this forum kronos123 has already made a price prediction about this since the year 2018.
Expect this as many people or institution trying to became relevant or want to create a noise and get a free publicity to the bitcoin users community that's why some other like this release a high price prediction so that there name will also be mentioned for their released speculation. But lets stick to reality and provably we will not see that price as that figures is so expensive to be bought by many people and I think the demand will get affected if the price surge so high as people cannot afford it anymore.
What is the most bullish scenario we could ever imagine? For me, it is fiat currencies collapsing due to ballooning federal debt and hyperinflation. Under such a scenario, assets such as gold and bitcoin, which are protected against inflation will be in high demand. Now the question is whether the figure of $2 quadrillion USD is fair. For me, it is noway near reality, and even under the most bullish scenario, we won't be able to reach that figure. But I have to agree that 2035 is a long way away. Still 14 years to go... and Bitcoin has been in existence for only 12 years.
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.
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.
There were some people who predicted that Bitcoin would surge, and reach $1,000 during 2012, I believe others predicted more than $1,000 which could make anyone “not know what to think anymore. Are we back in that situation again?
Expect this as many people or institution trying to became relevant or want to create a noise and get a free publicity to the bitcoin users community that's why some other like this release a high price prediction so that there name will also be mentioned for their released speculation. But lets stick to reality and provably we will not see that price as that figures is so expensive to be bought by many people and I think the demand will get affected if the price surge so high as people cannot afford it anymore.
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.
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.
There were some people who predicted that Bitcoin would surge, and reach $1,000 during 2012, I believe others predicted more than $1,000 which could make anyone “not know what to think anymore. Are we back in that situation again?
Usually the predictions from the bullish supporters are theoretically possible. But in case of this particular prediction, it is not even theoretically achieve this figure. Let's examine. There will be around 20 million coins in circulation by 2035. Going by the rate of $100 million per coin, that means a market cap of $2 quadrillion, which is around 5 times the current global wealth. In order for this to happen, first the global wealth should increase by 20-50 times, and then Bitcoin should constitute a large fraction of that wealth.
Opinions are borne from personal interest and that changes at a heart beat. A company would change their position about Bitcoin if that position favours them and their interest would possibly not favour you
Indeed. I keep saying that these "predictions" are, by far, biased. Since they work with crypto, they have to show that they trust crypto. And since 2035 is really far, they can really deliver any number there, the shockingly bigger the better.
Also they are fueling the current bullish sentiment, i.e. trying to also catch more paying customers.
All in all, I find this more an advertising than an actual prediction.
OP, what is it you said about Fidelity mining bitcoin? Is that true? I never heard anything about that (or don't remember). It seems odd to me that a brokerage would be mining any cryptocurrency--but it's a strange new world we're living in.
I remember that story appearing in 2017, there were even pictures of the offices where those computers were located (unfortunately I couldn't find them), but I did find one thread from that period from which it follows that the whole thing was actually experimental at the beginning (2014), because even then mining was not profitable with personal computers.
Then their CEO Abigail Johnson boasted that she had mined as many as 200 000 satoshis with her computer, and for comparison (because I remember that time), with a good faucet rotator, 100 000 satoshis and more could be collected in less than 1 hour.
Fidelity CEO Abigail Johnson says the company is mining cryptocurrencies
That link doesn't work for me for some reason. But in any case, that's one man's opinion, not Fidelity's official statement on bitcoin (or at least that's what it appears to be). I don't see anything about mining in that statement either, and I doubt Fidelity does any mining themselves. That would be a bit strange.
This is a better link - https://qz.com/990229/one-of-the-worlds-largest-financial-services-firms-is-mining-bitcoins/And here's a quote from the article about their mining activities.
Quote
One of Fidelity’s projects is mining bitcoin and ethereum, which Johnson said was started for educational purposes, but now turns a tidy profit. “We set up a small bitcoin and ethereum mining operation…that miraculously now is actually making a lot of money,” she said
Also, the quote was taken from a Chief Executive in the company who should have inside information.
OP, what is it you said about Fidelity mining bitcoin? Is that true? I never heard anything about that (or don't remember). It seems odd to me that a brokerage would be mining any cryptocurrency--but it's a strange new world we're living in.
This is what they say in the article I linked to: "Fidelity, which also has its own crypto arm, Fidelity Digital Assets that builds enterprise-grade bitcoin custody services for large institutions, isn’t new to the space as it first started mining Bitcoin (BTC) in 2014 and then Ether as well."
Since you said you hadn't heard anything (I hadn't either), I googled it and found this:
"Fidelity's early exploration of blockchain and digital assets has inspired several key innovations that underlie the solutions we've built at Fidelity Digital Assets. We began research and development efforts in 2014, started mining bitcoin in 2015, and tested our first wallet and storage solution with employees in 2016. During this time we have seen a steady evolution of institutional demand for custody and trading services, and we have responded with a solution that meets the needs of the most sophisticated investors in this emerging asset class."
Source: https://www.fidelitydigitalassets.com/about-us
The fact we have moved so much already last year after the halving is no shock. I think 100k by 2035 is very easily doable and actually seems like a very conservative price target. We could go through 4 or 5 bear market cycles and still breakthrough 100k by then. Much of this will depend on how regulation rolls out across the world and getting the transaction fees down a bit but I think it is very achievable.
I think you misses read the title, it's not 100k but 100m. 100k is really possible even in this decade. But $100m will overprice and this will only happen if all people in this world are using bitcoin and cryptocurrency becoming the main transaction currency in this world.
Imagine if the price is $100m, and the circulation supply is almost 100% , the marketcap will be so big and it must be make people attention.
The fact we have moved so much already last year after the halving is no shock. I think 100k by 2035 is very easily doable and actually seems like a very conservative price target. We could go through 4 or 5 bear market cycles and still breakthrough 100k by then. Much of this will depend on how regulation rolls out across the world and getting the transaction fees down a bit but I think it is very achievable.
The effect to make it possible goes with a high inflation for it to happen, how much would be things by that time.
So it goes within 14 years that the price of bitcoin is going to be $100M with their prediction in that return. If someone can hold at least 0.01 BTC by that time then he will have $1M.
So it goes within 14 years that the price of bitcoin is going to be $100M with their prediction in that return. If someone can hold at least 0.01 BTC by that time then he will have $1M.
Fidelity might or might not be nuts. It is really hard to predict that. There is a long way ahead of us until getting there. So many things can happen in this market until then. Maybe Bitcoin price won't be able to reach such level in that year. But I believe that Bitcoin price will be at least a few million dollars by then. Because the demand always continues to increase.
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