The CEO and founder of the chamber of Chamber of Digital Commerce Perianne Boring predicts that bitcoin will exceed $1 million.
Bitcoin = 1,000,000 within 5 years
When asked by CNBC how high bitcoin could go, Perianne Boring was very bullish.
“We apply “S-curve” analysis to predict the long-term adoption of bitcoin. Currently, 40% of American households have already allocated or own cryptocurrencies in one form or another. We are on track to reach 90% adoption by 2029.
And once we reach that 90% adoption, the price of a bitcoin could reach a million dollars. Because again, bitcoin has this limited supply that is a key feature of this technology. »
The journalists then asked him what will happen when governments introduce their own digital currency (CBDC)? Excellent answer from Perianne Boring:
“We have already seen central banks introduce digital currencies, notably in China which is a pioneer in this area with the introduction of the digital yuan. We believe this is a surveillance technology that will be used to control entire populations. CBDCs can be incredibly dangerous.
I don’t think bitcoin is necessarily a direct competitor to CBDCs. I also believe that bitcoin can coexist with fiat currency, whether it is a CBDC or not. Bitcoin is widely used as a store of value. This is a different use case than currency. So I don’t think we should consider bitcoin as an opponent of the US dollar. »
This is also the opinion of Michael Saylor that we reported in this article:
“Believing that bitcoin will replace fiat currency is a distraction that causes mental impasses for many people. Some people say, for example, “Hmm, bitcoin is supposed to replace fiat currency. It must therefore succeed in order to maintain its value. But at the same time, it is too volatile, it is not part of the accounting system, it is taxable on each transaction, so it will not replace fiat currency and therefore I will not buy it.” »
Let’s end by pointing out that Tim Draper echoes Perianne Boring’s optimism. The billionaire predicts a new all-time high of $250,000 in 2024.
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