A $ 1 million Bitcoin within 10 years? It’s possible

March 8, 2021 Joe Kenehan

As you may know, Bitcoin has been in excellent shape since the start of 2021. The queen of cryptocurrencies has entered into competition with gold, its value exceeding in particular the 50 000 dollars a few weeks ago. A historic record. Since then, the value of BTC has shown some volatility ($ 42,239 on Monday, March 8, 2021), but these variations are not worrying according to many cryptocurrency analysts.

Some are particularly optimistic about the future of Bitcoin and the increase in its value. This is particularly the case of Jesse Powell, CEO of the Kraken cryptocurrency exchange. In an interview given to our colleagues from the Bloomberg site, the boss says that the price of Bitcoin will not stop rising over the next few years. For him, this climb will also be dizzying.

” People see it supplanting gold as a store of value. So, you know, I think a million dollars as a target price within ten years is very reasonable, ” assures Jesse Powel. For the CEO, Bitcoin is a ” best version of gold ”. In addition, and still according to Jesse Powel, Bitcoin has the capacity to replace gold, but also traditional currencies. ” The question of Bitcoin is perhaps no longer if but how much ”, he said.

Read also: Bitcoin – 14% of French people want to invest soon

BTC soon to replace the dollar?

If BTC succeeded in establishing itself as an everyday currency, the value of Bitcoin would explode to finally reach ” infinity “. However, this hypothesis remains in the domain of science fiction for the moment. Indeed, BTC still has a long way to go before it can replace the dollar or the euro. For now, the volatility of the value of Bitcoin does not work in its favor. This instability is a danger for both buyers and sellers.

Nevertheless, and as Matthieu Bouvard, professor of finance at Toulouse School of Management reminds us, Bitcoin could emerge as ” a relatively anonymous means of payment, which makes it possible to reach people all over the world. Payments in Bitcoin could greatly facilitate transactions carried out by all these immigrant diasporas, who today have to go through companies like Western Union for money transfers to their country of origin ”, he specifies. Either way, Jesse Powel isn’t the only one who places his trust in Bitcoin and cryptocurrencies in general. Indeed, 14% of French people want to invest in Bitcoin soon.

Buy Bitcoin and be part of the adventure!

Of course this is a risky investment, but you don’t have to put all your savings into Bitcoin! Just place 100, 200, 500 or 1000 € andwait for the price to go up. If you have no particular knowledge in cryptocurrencies, we recommend the French site Coinhouse to buy Bitcoin, Ethereum or 15 other currencies of this type. Create your account in 5 minutes, pay by card or bank transfer and leave your investments on the secure servers of Coinhouse. It’s free.

If you are used to financial assets and you buy, store and especially trade, the site Binance is a must-see destination. Be careful, it is mainly aimed at connoisseurs, but it is the No. 1 platform in the world for crypto exchanges. If you are also interested in the world of the stock market (Tesla, Apple, etc.) and commodities (oil, gold), the site eToro offers all this on the same interface in addition to cryptos.

Finally, if you prefer to keep your private key in a safe place, the Ledger Nano wallet constitute a solution of choice.