In July 2020, after months of trading below $10,000, Bitcoin began a price run that would later define its history. Bitcoin surpassed the $10,000 mark and would later reach highs above $65,000 in the months that followed – specifically, in April 2021.
Bitcoin subsequently waved goodbye to the sub-$10,000 level, a threshold it has not revisited since. Reflecting on this, Rizzo tweeted, “4 years ago today, you had your last chance to buy Bitcoin under $10,000.”
Since then, Bitcoin has experienced tremendous growth, bidding farewell to the sub-$10,000 level, a price point that now appears to be a distant memory.
From subsequent highs of nearly $65,000 in April 2021 to the declines that followed and then highs above $69,000 in November 2021, the 2022 bear market and its current all-time highs of nearly $74,000 in mid-March, Bitcoin’s journey has been nothing short of captivating.
VanEck, an issuer of spot Bitcoin and Ethereum ETFs, predicts that BTC’s price might reach $2.9 million by 2050 if some significant hurdles are cleared.
According to VanEck’s estimates in a Wednesday report, Bitcoin might become a vital part of the world monetary system in the coming decades.
If events unfold as VanEck predicts, Bitcoin’s price might climb by nearly 44 times, gaining 16% annually from its present price of above $67,000, and its market capitalization might skyrocket to $61 trillion.
This article was originally published on U.Today
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