Crypto News Bulletin from bitcoinmagazine

Friday February 22, 2019 9:42 PM
3 weeks 4 days ago

IBM Exec Forecasts a Million-Dollar Bitcoin — When a Sat Will Equal a Cent


An IBM executive is unfazed by the current market realities, saying he sees Bitcoin (BTC) reaching a value of $1 million as a present possibility.Jesse Lund, vice president of Blockchain and Digital Currencies at IBM, shared his predictions at the IBM Think 2019 Conference, which took place February 12–15, 2019.$5,000 in 2019, $1 Million SomedayAs the discussion drew to a close, the IBM executive was asked about what he believes the price of bitcoin will be by the end of this calendar year. He opined that bitcoin could cross the $5,000 mark by the end of the year, adding that he sees bitcoin “at a million dollars someday.”Explaining the reasons for his million-dollar forecast, Lund said, “If bitcoin is at a million dollars, then [one] satoshi is on value parity with the U.S. penny.” He is of the belief that such a valuation will give the network for the world’s most valuable digital asset a liquidity value that will exceed $20 trillion.Lund went on to say that with so much liquidity, there is potential for a significant change to the way corporate payments are being made all over the world.Concluding, he said, “I see maybe $5,000 at the end of the year, but I see a way higher upward trajectory.”IBM, Stellar and Future PartnershipsDuring the interview, Lund also touched on some of IBM’s most recent blockchain endeavors, particularly the company’s partnership with Stellar (XLM) and how it expects to integrate the Stellar netwo...

BTC|Blockchain|Market|Regulation|Trading