Bitcoin (BTC) has recorded a solid rise since the 2020 market crash. Earlier this year, in April 2021, the BTC price hit an all-time high of $64,000. At the time of writing, BTC is trading at $49,666, up 4.84%, with a market cap of $933 billion. At the current price, BTC has gained 70 percent annually.
Boston-based investment giant: Bitcoin (BTC) price will skyrocket to $ 100 million
Forecasting the most optimistic scenario for Bitcoin, Boston-based investment giant Fidelity predicts that BTC will reach price levels of $ 100 million by 2035. That’s a staggering 2,100x increase in value from current levels. The accuracy-based prediction is based on the Stock-to-Flow (S2F) model developed by popular crypto analyst PlanB. Managing assets in excess of $10 trillion, Fidelity has been in the crypto space for a while. Crypto subsidiary Fidelity Digital Assets is active in creating enterprise-grade Bitcoin products.
Fidelity’s $100 million Bitcoin (BTC) price prediction, “Understanding Bitcoin, What History Can Teach Us?” It was put forward by Fidelity’s Director of Macro, Jurrien Timmer, during a recent Fidelity webinar. The S2F model cited by Jurrien Timmer shows a sustained appreciation in BTC price with the decline in the annual inflation rate. This means that by the end of the decade, i.e. 2030, the Bitcoin inflation rate will drop to 0.5%. According to the prediction made using the S2F model, the BTC price will reach $1 million. After five years by 2035, the inflation rate will fall to 0.2%. Thus, the Bitcoin (BTC) price will skyrocket to $100 million.
“BTC will outperform gold”
As you know from news, most of the time, crypto market analystsdollarseries have named Bitcoin as the ideal substitute for Gold 2.0 or the physical yellow metal. Interestingly, Jurrien Timmer compared BTC price performance to that of gold in the 1970s. And interestingly, there is a striking similarity between the two entities.
Popular crypto analyst Anthony Pompliano makes a similar comparison in his latest podcast “The Best Business Show,” noting that in the 1970s the price of gold was around $35. Subsequently, the United States adopted the fiat currency standard, denouncing its currency from being based on gold. Gold has witnessed an extraordinary price rally and has so far climbed as high as $1,800. If the same thing happens to Bitcoin, the digital asset could rise 2,000 times from current levels. Anthony Pompliano continues:
If they (Fidelity) were basically saying we were under in the 1970s, but now they are calling for a very, very tangible increase in the BTC price for Bitcoin. To see Fidelity, show a chart that says Bitcoin will reach $100 million by 2035. It’s so incredible.
Anthony Pompliano also says the S2F model is pretty “underrated”. A tweet was shared by popular crypto analyst PlanB stating that the S2F model is running like clockwork and that it ended above the $47,000 level in August 2021 as previously predicted:
Bitcoin August closing price is $47.156. . like clock