Bloomberg said that Bitcoin (BTC) will soon reach $100,000 and will become the world’s reserve asset as its unique features become more prominent. Bloomberg has released the September issue of its Crypto Oudollarsook report, in which the company shares how its analisdollar series is navigating the market and measuring adoption rates, as well as demand and supply spikes. According to the report, BTC will reach the $100,000 mark “through a path of least resistance” and establish itself as a global reserve asset. However, it was also mentioned that Ethereum can topple BTC.

Bloomberg: Digital society will increasingly benefit from Bitcoin (BTC)

In line with the dollar’s status as the global reserve currency, Bloomberg has argued how Bitcoin could reap the benefits of an increasingly digital society, hungry for a liquid, always available asset fit to become the world’s reserve currency.

Bitcoin has long been known to Bitcoiners, including that it is independent of the state, has a predictable monetary policy and a stable supply, is much better across scales, space and time, and also has verifiable transactions relative to the dollar. advantages now; apparently it’s become apparent to Bloomberg as well. In the report, Bitcoin “may have solved the problem of a global reserve asset that is easily portable and transactable, has 24/7 price discovery, is relatively scarce, and has no responsibility or project for anyone.”

Ethereum can overtake BTC

According to the statements in the report, it is typical for Ethereum to outperform Bitcoin in crypto bull markets and there are possibilities to hold the course since the bottom in 2019. A target of $5,000 has been set in the report for Ethereum, which ranks second by market cap.

Also, according to the report, he says that due to the recent ETH update, the number of coins is likely to fall below Bitcoin as a result of the percentage decrease in supply coins. Cryptocoin. com

As we have also reported , with the EIP-1559, which came into effect as a result of the new London hard fork, some of the ETHs paid as transaction fee are burned and out of circulation.

In the report, “If Ethereum’s 2021 price increase rate remains the same against Bitcoin, the second-ranked coin by market cap will return to number 1 towards the end of 2022. Our chart shows a more realistic trajectory for such a transition towards 2023, based on regression lines.”

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Michael Lewis


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