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

bryant.coleman

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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.

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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.

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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

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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.

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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.

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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.

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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.

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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

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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

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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.

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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.

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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

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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.

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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).

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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.

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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

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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.

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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

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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

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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

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For now it's a bit nuts to think that bitcoin in 2035 will be a hundred million apiece. It's not that I don't believe that it will go to that point but because of the time that they've predicted, it's just too short of a timespan for bitcoin to reach that point.

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Quote from: Rasa nanas on September 02, 2021, 11:00:25 AM

the price of bitcoin 10 years ago (2011) was only around $1, and this year the price of bitcoin hit a high of around $60k. that means for 10 years the price of bitcoin has increased 60000%. but of course the journey of bitcoin price 10 years ago with the next 10 years is very different. for most people the current price of bitcoin is too high to invest. I don't think it's possible for bitcoin to cross $100M in the next 14 years.

Back in 2009, when Bitcoin was first traded (the first cryptocurrency exchange was New Libertystandard), the exchange rate was $0.001 per coin. So the current valuation represents a 50 million times increase from those levels. But IMO, percentage increase can be misleading, and we should be looking at the absolute increase instead. The market cap increased during 2009-21 period from $2,000 to $915 billion. However, a price of $100 million per coin would mean a market cap of $2 quadrillion, which is more than 2,000 times the current price levels.

Oceat

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I'm sure this is what they get after computing the the price every halving/bull run and the time interval each cycle but I have a doubt if Bitcoin would reach $100M after almost 15 years that sure a lot of money there. I'm sure there's a bit off about the price analysis that they didn't consider as a factor of changes that they overly estimate the price. Well, I think this is some kind of positive propaganda news to gather more people to invest and to increase adoption of Bitcoin but seriously though, people should do their own research first because investment is not that easy or a get-rich-quick in a small amount of time.

Fatunad

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Quote from: dothebeats on September 02, 2021, 06:41:00 PM

Overly optimistic to borderline delusional IMO, though still not impossible if ever massive inflation is to hit the world markets. Fidelity is known to give otherworldly predictions, so I’d say just let them be. Currently, bitcoin sits @ $49k a piece, when in fact just a decade ago it isn’t even worth a dollar. They could most probably be wrong on their predictions, but I can’t really tell that they are crazy or out of their minds because no one predicted that we will be where we’re at right now 10 years back.

Lets talk about $1M first before going $100M and if we do really mind off about being realistic then these numbers are just really a dream.We've been here for a decade even though adoption isnt still on full scale yet
but reaching even $500k would already be almost an impossible.Somehow we do gradually climb up on the ladder and who knows if we do able to reach those numbers but based up on my own personal view
then $200-300k seems realistic on future years to come but going above $1M is already delusional imho which i do highly agree but well we do have our own personal views so lets just
respect into that.

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Overly optimistic to borderline delusional IMO, though still not impossible if ever massive inflation is to hit the world markets. Fidelity is known to give otherworldly predictions, so I’d say just let them be. Currently, bitcoin sits @ $49k a piece, when in fact just a decade ago it isn’t even worth a dollar. They could most probably be wrong on their predictions, but I can’t really tell that they are crazy or out of their minds because no one predicted that we will be where we’re at right now 10 years back.

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Quote from: Timelord2067 on September 02, 2021, 05:14:02 PM

When the price of Bitcoin hit a whopping one cent, do you suppose anyone would have taken seriously the notion that in a little over just one decade's time the price of Bitcoin would have risen to its recent all time high of $ 65,000?

That's the $64,000 question...

Wink

Makes entirely sense! Back when BTC was first released, its price was nowhere near a dollar. Remember the guy that sold 10,000 BTCs for a slice of pizza? I mean, who would have thought that its price would skyrocket in the following years?

I mean, $100M is too much for one to speculate given the circumstances of each trade that affect its price on the market. But if you thought about it very carefully, there is indeed that possibility for bitcoin to reach that kind of price but I doubt that it would be at the year 2035. One thing is for sure- better HODL your BTCs for a good 10 years!

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Quote from: Kittygalore on September 02, 2021, 03:46:36 AM

I guess we'll just have to see if it's really going to happen. Remember that bitcoin reached 60k and not a lot of people expected that it will go to that point so I don't think that it's the best of us to doubt the numbers but given how large it is, I think it's unlikely that kind of number will happen at that timeframe.

Yeah, many didn't expected that there will be a higher ATH that will happen this year. We've only waited for bitcoin to reach $20,000 again and then it suddenly surpassed that price.

Investing in bitcoin really requires a lot of patience, it's more than just a waiting game.

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When the price of Bitcoin hit a whopping one cent, do you suppose anyone would have taken seriously the notion that in a little over just one decade's time the price of Bitcoin would have risen to its recent all time high of $ 65,000?

That's the $64,000 question...

Wink

ILuckyGuyI

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I can't say that they are nuts. Because we never know what Bitcoin can do in such a time period. However, it seems really not very probable to me for now. First of all, I wonder when Bitcoin price will be able to go over $1m price level. If it goes over this level and strengthens its place there, then it would be quite probable to see Bitcoin price at much higher levels. But still, I don't know whether a 14-year gap is enough to reach this high level.

RealMalatesta

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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.

Do not think of it like today. 100 years ago today there were houses sold for few bucks, sure there were still some houses going for thousands of dollars, but even the biggest house wasn't 100k, it was much much less than that, you got a whole mansion for 5k, and you could have gotten some wooden shed type place (where Abraham Lincoln was more) for under 100 bucks. Today houses start from 50k at the worst place ever and go for 50+ million dollars for those huge mansions, of course they are much better looking but that shows you the inflation.

This is just houses we are talking about, people were living with 2-3 dollar salaries monthly, like 5 bucks was a good salary per month, now you need 5k not to be poor. This means 100 million dollars per bitcoin is not impossible, it is not a dream, it just something that will take a long time to reach, and by that time 100 million of that day will be similar to few million dollars of today.

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the price of bitcoin 10 years ago (2011) was only around $1, and this year the price of bitcoin hit a high of around $60k. that means for 10 years the price of bitcoin has increased 60000%. but of course the journey of bitcoin price 10 years ago with the next 10 years is very different. for most people the current price of bitcoin is too high to invest. I don't think it's possible for bitcoin to cross $100M in the next 14 years.

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

I think 100 million per coin is nuts

A lot of people have said the same thing back then when bitcoin was still a dollar that it's crazy that bitcoin will ever go to a thousand dollars but it did so I don't see anything wrong with believing in that even if we think they're just trying to pump the prices.

oHnK

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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.

That's right, there's a lot to be learned from his words. Do you just want to find the stage? or take advantage? or is it purely a measurable prediction. On the other hand, I see if this is based on basic calculations then the 100 Million figure is based on the prediction of hyperinflation that hit the US so that the value of 100 Million will not be so meaningful in the next 15 years. What's more, almost all countries are printing large amounts of money, taking out loans for social funds makes the economic system quite bad for the future.

AicecreaME

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2035 is 14 years from now. There are so many possibilities that could happen in span of 14 years. Although i think $100M is a little bit exaggerated for a price of 1btc but it could happen. It's not really impossible given that bitcoin is limited. Maybe if you will apply the law of supply and demand, that could happen because in 14 years, let's say all bitcoin is already mined. There would be a very limited supply. The scarcity of it will make its price go higher and higher because many people will have an interest to buy it, but only a very few supply is available. Hence, price will start to pump until it reaches its peak value.

Back then, the price of btc is relatively low compared to its price today. Who would have thought it would pump that much? The believers are surely in a happy place for trusting the prediction and holding for this long (from its establishment until present).

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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.

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I guess we'll just have to see if it's really going to happen. Remember that bitcoin reached 60k and not a lot of people expected that it will go to that point so I don't think that it's the best of us to doubt the numbers but given how large it is, I think it's unlikely that kind of number will happen at that timeframe.

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This was an interesting read. I think $100 million does sound a bit high, considering other forecast strategists that I follow have lower predictions.

However, it is very difficult to predict future valuations of such a transformational technology such as BTC.

It could perhaps reach levels that high in the future.

For example, if BTC is the dominant method of value exchange globally and fiat currencies are much less used then perhaps it is a reasonable projection that Fidelity is making in the article; I would need to do more research to be sure.

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Quote from: bryant.coleman on August 30, 2021, 06:15:49 AM

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.

The only way for this to become true is that we see huge levels of inflation all over the world but if that is the scenario that they are predicting then the number itself becomes meaningless as there is no way for us to know how much you will be able to buy with that amount of money in that scenario, so like you I think this is just one of those predictions that are not really intended to be taken as such and more than anything it is just a way to fuel the current bull market.

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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.

The great thing about this BTC technology is that every day it takes on more importance, it does not matter that they say that it is Bubble, times change, we are not in the 1800-1900s, which was when only the Wall Street market existed, now with all The innovation that there is, BTC not only represents technology, but also a totally deflationary economy, apart from that it has a great value in the speculative market, some think that it will take that value, sincerely I do.

I assume that the S2F model is valid, if a first target is forecast for $ 100k and the other at $ 288k, at the time of reaching the expected targets as they have limited validity, it would not surprise me that the next targets are for $ 1M or more, everything that has to do with BTC is possible.

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Quote from: Taskford on August 30, 2021, 07:57:30 AM

Quote from: Wind_FURY on August 30, 2021, 06:55:50 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.

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? Cool

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 too, honestly, don’t know what to think anymore. I’m not debating anything about price, how high or how low. ai’m merely saying that we might be in the same situation as the OGs of 2012.

Quote from: Haunebu on August 30, 2021, 11:49:03 AM

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).

Yes, but if we were in 2012, we would also call someone who predicts Bitcoin will be more than $10,000 nuts too. Cool

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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.

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Quote from: Vishnu.Reang on August 30, 2021, 10:55:48 PM

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).

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Quote from: beerlover on August 30, 2021, 03:48:49 PM

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.

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?

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Quote from: beerlover on August 30, 2021, 03:48:49 PM

Quote from: bryant.coleman on August 30, 2021, 08:30:24 AM

~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.

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Quote from: bryant.coleman on August 30, 2021, 08:30:24 AM

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.

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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).

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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.

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Quote from: Taskford on August 30, 2021, 07:57:30 AM

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.

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Quote from: Wind_FURY on August 30, 2021, 06:55:50 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.

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? Cool

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.

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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.

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? Cool

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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.

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Quote from: Upgrade00 on August 29, 2021, 01:52:17 PM

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.

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

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

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Quote from: The Sceptical Chymist on August 29, 2021, 03:53:12 PM

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.

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

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

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Quote from: flip4flop on August 29, 2021, 07:56:26 PM

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.

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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.

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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.

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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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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.

And that is exactly the problem with predictions that go so far away, supposing that bitcoin reached 100 million then we need to wonder what you can buy with that money at that time, if what you can buy is less than what you can buy with bitcoin at the current prices then the price of bitcoin basically remained stagnant during those 14 years, we must remember that at the end of the day the price of bitcoin is not what matters but what you can buy with it.

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Quote from: Upgrade00 on August 29, 2021, 01:52:17 PM

A company would change their position about Bitcoin if that position favours them and their interest would possibly not favour you:

On the other hand, I don't think you'd want to do business with a financial services company like Fidelity if their views were so entrenched that they wouldn't change them if presented with new data. That could be a recipe for disaster as far as your financials go.

Quote from: Upgrade00 on August 29, 2021, 01:52:17 PM

I came across the news sometime this year or last, it was one of their executives who was quoted to have said that, they started mining Bitcoin experimentally very early on. Here's one link I could find;

Quote from: https://www.reuters.com/article/us-fidelity-bitcoin-idUSKBN18J20P

The company is testing the Coinbase holdings integration with its employees, Johnson said. “I love this stuff – bitcoin, ethereum, blockchain technology – and what the future holds,” Johnson said at a blockchain conference called Consensus in New York City.

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.

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This could be one of the very optimistic predictions. We have fourteen years ahead to reach 2035. It is a really huge gap to be honest. Everything can happen in such a long time period. However, $100m is a really insane level. We don't know when it will be able to reach even $1m now. We are hoping it to reach at least $100k for now. Grin

We need a lot of bull runs and they should last long to have a high probability of seeing $100m in that year.

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If we look at history, Bitcoin is usually increasing the price after a havling occurs. So let's count if now Bitcoin has a price of 50,000 $, then after Havling 4 in 2024 the price will be 100,000 $ then Havling 5 in 2028, the price will be 200,000 $ then Havling 6 in 2032, the price is 400.00 It is a very simple scheme. Is that possible? Very possible if Bitcoin always rises at least 100% of the price before havling. But it's really draining world money

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The only reason that bitcoin can go as high as what Fidelity has prediction is that by around that time, almost all bitcoin has been mine, meaning the supply is dwindling and everyone wanted to get a piece of it that will push the price even higher.

But then again, these guys have their narrative behind to predict that the price could hit $100 million in the next 14 years, so let's say they need to exaggerate things a bit.

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2035 is fourteen years from now, fourteen years ago from now I think Bitcoin existed only in the mind of Satoshi, how unbelievable looking on up till this time how the price stands, anything can happen in the next fourteen years, but $100 million is outrageously high even for the next fourteen years from now, I think it's a luring prediction for those who don't have Bitcoin, but I have to stand out of the prediction, I don't think it would be the price of Bitcoin at that year, but am sure the price will be high enough to surprise us when we look backward fourteen years from 2035.

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

I don't know what to think anymore...

Public sentiment about Bitcoin or any investment shouldn't be that important to you except for trading purposes. 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:
• Always have your own opinion,
• Study the fundamentals,
• Do Your Own Research,
• Take all other opinions with a pinch of salt.

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

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 came across the news sometime this year or last, it was one of their executives who was quoted to have said that, they started mining Bitcoin experimentally very early on. Here's one link I could find;

Quote from: https://www.reuters.com/article/us-fidelity-bitcoin-idUSKBN18J20P

The company is testing the Coinbase holdings integration with its employees, Johnson said. “I love this stuff – bitcoin, ethereum, blockchain technology – and what the future holds,” Johnson said at a blockchain conference called Consensus in New York City.

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I do not even think that the bullish run that happened in 2021 was something that we were able to predict, most of the times people did take it super lightly and at the same time they had no idea of what was happening and it was all so sudden. I do think that right now people are more focused on investing in Bitcoins and other cryptocurrencies and they do understand for a fact that other countries and companies are also investing in the same so the price will definitely rise. So I do think that we will be seeing a bull run soon enough. It might as well be 100k and they just posted about it therefore more and more people are now going to be interested in it and might invest more.

hatshepsut93

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I don't think it's nuts or bullish, I think Fidelity just has a huge interest in seeing more Bitcoin investing happening, and what better way to promote it than to predict a huge price rise? People who hold Bitcoin or otherwise has some interest in it will always be bullish, otherwise it wouldn't make sense for them to do so.

teosanru

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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.

100 million is definitely too much to even expect. At this point obviously even I would say its nuts but someone in 2012 would also have have said that Bitcoin going to 60k is nuts, despite that I think btc adoption is already too high, this price would mean a lot of money has to flow into cryptos, so unless all the money from stock markets and forex markets flows into cryptos there aren't a lot of chances this would happen.

palle11

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

"...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.

I believe that a decade is same as 100 years and we already used 20 years and 8 months from it with 79 years and 4 months remaining. So if we calculate by the range of performance so far that bitcoin is around $50,000 , I can say it may not be possible but with the mysterious volatility of bitcoin I don't know what to conclude on that but the question is if bitcoin will get to $1million ?

Quote

$1 million before this decade is over and a whopping $100 million by 2035.

But I don't know if OP is making a mistyon the figures highlighted above. A decade is hundred years and $1million while 2035 is 14years from now and having $100 million. So which is greater between 1million and $100 million in comparing the years. I don't know if my observation is understood if I'm right, maybe Op can edit the figures but if I'm wrong, I'm sorry it may be I didn't understand the figures well myself.

The Sceptical Chymist

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

"...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.”

Gotta love it when journalists quote random Reddit users (same as when mainstream media quotes Twitter quotes). And even though there's a good point there, as you mentioned with the money-printing being rampant $2100 trillion might not be such a stretch of the imagination.

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.

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.

Lucius

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$1 million before the end of this decade is in some domain possible if now we are at $50k, which would mean an increase of only 20 times, and we had such an increase in only one year (2017). I don’t know the right word to comment on $100 million per BTC, but the facts say it’s in the realm of science fiction, unless the people at Fidelity know something we don’t.

Never say never when it comes to Bitcoin, but I think they exaggerated this time, and quite a bit.

dkbit98

legendary

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That is overly optimistic price for Bitcoin at the moment, but I would not be surprised if we see that in next few years with some global hyperinflation and economic fall.
Fidelity is probably trying to manipulate markets like always, but $100 Million today is not as much like it was 20 or 30 years ago, and in next few years it may be worth even less with prices of food and everything else going up.
Check out this interesting Bitcoin spiral price chart and tell me again if you think that BTC can't go much much higher if spiral continues to go like this and follow the trend.

https://twitter.com/therationalroot/status/1431484692201545732

Poker Player

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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.

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