Global asset management giant VanEck listed its Bitcoin predictions in a recent research report.
VanEck, who makes record predictions for BTC, predicts that if Bitcoin has 10% of global trade, it can reach $ 2.9 million by 2050.
VanEck's prediction is based on Bitcoin's adoption as both a global medium of exchange and a reserve asset.
The report prepared by the company's head of digital assets, Matthew Sigel, and senior investment analyst Patrick Bush, argues that Bitcoin could reach $ 2.9 million in the base scenario by 2050.
Analysts predict that BTC will reach a minimum of $130,314 in the bear scenario, while in the bull scenario the price will rise up to $52.4 million per BTC.
VanEck's predictions are based on Bitcoin being able to account for 10% of the world's international trade and 5% of domestic trade by 2050. The company also predicts that central banks will hold 2.5% of their assets in BTC.
Analysts also noted that the adoption of Bitcoin as a global medium of exchange and reserve asset has the potential to radically change the international financial system.
Despite his positive outlook for Bitcoin price, VanEck also acknowledged a few risks that could hinder Bitcoin's growth. VanEck noted that one of the main concerns is the increasing energy demands of future Bitcoin mining.
He stated that, apart from increasing energy demands, one of the other important concerns is regulatory risks that can deeply affect Bitcoin.
*This is not investment advice.
