Bitcoin worth a million dollars
The ever-growing bitcoin has surprised investors and doubters after it jumped from $5,500 to over $9,000 in a couple of weeks. This jump raises the question, “if bitcoin can grow this rapidly so fast while professional investors an analyst couldn’t even predict a jump what can bitcoin jump to next ?”. In June, a Fox News analyst predicted bitcoin would be worth one million dollars per bitcoin one day. Some might say the prediction is farfetched and completely unrealistic while others are saying it’s possible and are planning to be long-term investors to see where bitcoin ends up.
Realistically speaking, if bitcoin can inflate to close to fifty percent of its value within a couple of weeks it can easily reach the hundreds of thousands or even a million in a couple of years. The first set of people to invest in the stock market probably didn’t think their dollar investments would be worth thousands today, and even allow them the opportunity to retire. If bitcoin continues to grow at the rate it is, it can be a retirement fund equivalent to what the baby boomers experienced investing in stocks for the first time.
There are numerous factors that can make the million dollar bitcoin possible. With more investment funds turning their attention to cryptocurrency more customers will have access to profiting off of bitcoin. Crypto 21 is an innovative investment management firm that specializes in cryptocurrency.
Crypto 21 strategically invest their clients into cryptocurrency hedge funds along with other aggregated funds. Their goal is to grow their client’s knowledge who are unaware and inexperienced using bitcoin.
Recently, South Koreas second largest commercial bank named Shinhan recently took an interest in bitcoin. They are currently in the process of testing bitcoin wallets and vaults for their clients. Shinhan bank has over a million clients and works with thousands of corporations. If Shinhan successful launches the wallet and vault, there’s no telling how many clients will purchase bitcoin and use their services. It won’t be long before other countries will join on the global phenomenon of bitcoin.
Large institutional investors such as CME decided to jump on board the bitcoin chain and announced they would be launching bitcoin futures later in 2017. The bitcoin futures trade has the potential to grow tremendously over time. The CME is applying their CME CF Bitcoin Real-Time Index (BRTI), which is the bitcoin to USD conversion. Another large company named Square Cash is testing out bitcoin as a source of payment. There’s no telling which corporation, bank or even phone app is open to testing bitcoin as a source of payment next.
Currently, there is a loss of confidence in the worldwide currencies. Recently, Russia has been trading oil instead of the petrodollar. All the global currencies coincide with each other so if a major currency falls other will be affected and fall with it. Japan just recently started accepting cryptocurrency as a form of legal tender. As more countries join the bitcoin train, other countries will feel the pressure to jump on the bitcoin bandwagon too.