A cryptocurrency expert expects Bitcoin to reach $ 1 million

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date of publication:
May 06, 2021 14:44 GMT

Update date: May 06, 2021 16:45 GMT

A cryptocurrency expert estimated that the price of Bitcoin would rise to $ 1 million over the next five years, due to investor interest in rising cryptocurrency prices, he told Yahoo Finance.

“Bitcoin will reach $ 1 million for every single unit of the currency,” said Ole Leitch, a cryptocurrency expert.

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“I really think it will reach this level, at some point, and through the scarcity aspect alone, Bitcoin becomes an exciting asset that everyone will be scrambling to hold in an incredible way … Bitcoin is an indisputable currency,” Leach explained.

But when will Bitcoin cross the million dollar mark is an urgent question, and in this regard Leitch says that the next half of Bitcoin – a major technical event when the amount of bitcoins awarded to miners is cut in half – is set to happen in 2024, and from This could lead to a significant price spike.

“The year after the halving always seems to lead to a big spike,” Leach added.

He continued: “This is what we see now, the last half of the Bitcoin coin was in the year 2020, and so far this year, we are witnessing a rise in prices, I do not know when the Bitcoin coin will exceed one million dollars, but it will likely be after 2025.

The market value of Bitcoin is currently more than $ 1 trillion, double what it was at the start of 2021, and the rise was driven by several factors, including the fact that more institutional investors are adopting the cryptocurrency.

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Earlier this year, the electric car giant Tesla invested a total of $ 1.5 billion in Bitcoin, while US bankers Morgan Stanley and Goldman Sachs plan to provide crypto to select customers.

Cryptocurrencies are gaining momentum in the payment space as well, as Mastercard, PayPal and Visa have increased exposure to cryptocurrencies over the past several months.

Meanwhile, major banks and payments companies on “Wall Street” are engaging in digital assets as a result of customer demand, and a Mastercard survey concluded that 40% of people plan to use the cryptocurrency in the next year.

This number jumped dramatically among the younger respondents, especially in the Middle East and Asia, in these two regions, 67% of millennials said they were more open to using cryptocurrencies than they were a year ago.

Moreover, 77% of millennials around the world said they would be interested in learning more about cryptocurrencies, and at the same time, 75% agree that they will use cryptocurrencies if they understand it better.





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