The Rise and Rise of #BITCOIN

Compiling the bullish cases for Bitcoin by brilliant and credible minds. An article like this helps me keep my mind calm and hold onto my bitcoins when it breaks all important Support levels.

A table of predictions arranged chronologically, from the nearest date prediction to long-term forecasts.

Let's deep dive into each of these predictions;

Standard Chartered Bitcoin Prediction (April 2023)

Standard Chartered is a leading British multinational bank with a strong presence in emerging markets, particularly in Asia, Africa, and the Middle East. It offers a wide range of financial services, including personal banking, corporate banking, and wealth management, operating in over 60 countries worldwide.

Prediction: Bitcoin to reach $100,000 by the end of 2024.

Reasonsing: Institutional adoption, market maturity, macroeconomic trends like inflation, and the 2024 halving event are the primary factors behind the forecast.

Bitcoin Price at Time of Prediction: $27,000 - $30,000.

Pantera Capital Bitcoin Prediction

Pantera Capital is a leading cryptocurrency investment firm specializing in blockchain technology and digital asset funds, founded by Dan Morehead.

Prediction: Bitcoin to reach $150,000 by 2025.

Growing Adoption: Pantera Capital's CEO, Dan Morehead, pointed to increasing mainstream adoption of Bitcoin, both by retail and institutional investors, as a key driver.

Supply Dynamics: The fixed supply of Bitcoin (21 million) and the impact of halving events are expected to continue to create supply shortages, which could push prices higher.

Institutional Inflows: Morehead emphasized that institutional investment is still in its early stages, and as more institutions allocate a portion of their portfolios to Bitcoin, it will significantly drive up demand.

Technological and Ecosystem Maturity: Bitcoin's ecosystem is becoming more robust with improved infrastructure, including exchanges, custodial services, and regulations, making it more accessible and attractive to larger players.

Morgan Creek Bitcoin Prediction

Anthony Pompliano is a prominent cryptocurrency investor, entrepreneur, and co-founder of Morgan Creek Digital, an investment firm focused on blockchain technology and digital assets. He's been publicly bullish on Bitcoin since 2016. He has stated that over 80% of his networth was tied up in Bitcoin at some point in time.

Prediction: Bitcoin to reach $500,000 - $1 million by 2030.

Key Reasons:

• Store of Value: Anthony Pompliano, co-founder of Morgan Creek Digital, views Bitcoin as a long-term store of value similar to digital gold, with the potential to reach $1 million as more investors adopt this view.
• Institutional Adoption: Pompliano highlights the growing participation of institutional investors, including hedge funds, pension funds, and corporations, as a key factor driving long-term demand.
• Monetary Policy and Inflation: Bitcoin’s fixed supply makes it an attractive hedge against inflation and the debasement of fiat currencies, particularly given global macroeconomic trends.
• Network Effects: The increasing number of users, developers, and businesses building on and using the Bitcoin network is expected to exponentially increase Bitcoin’s value as the network grows stronger over time.

ARK Invest Bitcoin Prediction

ARK Invest is a forward-thinking investment firm founded by Cathie Wood that focuses on disruptive innovation across sectors like blockchain, artificial intelligence, and DNA sequencing. ARK Invest is known for its high-conviction bets on emerging technologies, including cryptocurrencies such as Bitcoin.

Prediction: Bitcoin to reach $1 million by 2030.

Key Reasons:

• Institutional Adoption: ARK Invest predicts that institutional investors will significantly increase their allocation to Bitcoin, viewing it as a reliable store of value similar to gold.
• Macroeconomic Trends: The report highlights Bitcoin as a hedge against inflation and potential currency devaluation, leading to increased demand.
• Scarcity and Halving Events: With Bitcoin’s fixed supply (21 million) and periodic halving events reducing new supply, ARK expects demand to outpace availability, pushing prices higher.
• Global Adoption: Cathie Wood envisions a future where Bitcoin plays a key role in global financial systems, used as both a currency and an alternative asset class by institutions, corporations, and individuals.

Guggenheim Bitcoin Prediction

Guggenheim Partners is a global investment and advisory firm with over $325 billion in assets under management. The firm’s CIO, Scott Minerd, has been a vocal advocate of Bitcoin’s long-term potential as a key financial asset, particularly in the context of the macroeconomic environment.

Prediction: Bitcoin to reach $400,000 - $600,000 in the long term.

Key Reasons:

• Store of Value: Guggenheim’s CIO Scott Minerd views Bitcoin as an emerging alternative to gold, making it a strong store of value with significant price appreciation potential.
• Scarcity and Demand: With Bitcoin’s finite supply of 21 million coins, growing demand from institutional and retail investors is expected to push prices higher.
• Macroeconomic Environment: Minerd emphasized that low interest rates, inflationary pressures, and increased government debt would make assets like Bitcoin more attractive, leading to substantial price growth.

JP Morgan Bitcoin Prediction

JP Morgan is one of the largest investment banks in the world, offering a broad range of financial services. The firm has increasingly acknowledged Bitcoin’s potential, particularly as an institutional asset, despite earlier skepticism from its leadership.

Prediction: Bitcoin to reach $150,000 in the long term.

Key Reasons:

• Bitcoin vs. Gold: JP Morgan analysts suggest that Bitcoin could compete with gold as a store of value, especially as younger generations prefer digital assets over physical ones like gold.
• Institutional Adoption: Increasing interest from institutional investors and hedge funds, especially as more financial products (like ETFs) become available, will drive demand for Bitcoin.
• Decreased Volatility: JP Morgan believes that over time, Bitcoin’s volatility will decrease, making it a more stable asset class for institutional investment, similar to gold.

VanEck Bitcoin Prediction

VanEck is a global investment management firm that offers a wide range of exchange-traded funds (ETFs), mutual funds, and investment products. The firm has been a pioneer in exploring the potential of cryptocurrencies and blockchain technology, publishing in-depth research and seeking to launch crypto-related financial products.

Prediction: Bitcoin to reach $1.3 million - $4.8 million by 2050.

Key Reasons:

• Global Medium of Exchange: VanEck’s report envisions a scenario where Bitcoin becomes a widely accepted global medium of exchange, replacing traditional currencies in certain sectors, which could drive prices to over $1.3 million.
• Reserve Asset: In a more aggressive scenario, Bitcoin could be adopted as a global reserve asset, replacing or supplementing gold and fiat currencies, leading to prices as high as $4.8 million by 2050.
• Scarcity and Utility: VanEck emphasized the dual nature of Bitcoin as both a scarce commodity (with a fixed supply) and a financial utility in decentralized systems, which supports its long-term price growth.

Bitcoin is trading around 55-60k during the time of writing this article. An aggressive prediction of Bitcoin reaching almost 5 Million by 2050 would mean $Bitcoin goes up almost 90 to 100 times from current levels. Crypto markets have a tendency to overshoot. When there is euphoria, a 5 million coin bouncing to 10 million cannot be overlooked. But with bitcoin becoming such a heavy asset, who knows?

We will keep updating this article as and when a few more important people make predictions or when any of these come true.

Words of wisdom on BITCOIN.

Michael Saylor of Microstrategy on "Going all in on Bitcoin"

BlackRock’s Larry Fink says he’s a ‘major believer’ in bitcoin, is worried about government deficits

BlackRock’s Larry Fink says he’s a ‘major believer’ in bitcoin, is worried about government deficits

The BlackRock CEO discussed cryptocurrency and government spending on CNBC’s “Squawk on the Street.”

CNBCJesse Pound