Bitcoin is predicted to grow by 642% in the next 10 years

A South Korean analyst predicts a significant increase in the value of bitcoin by 2034. According to the expert’s forecasts, the price of BTC $65,559.33 Bitcoin -0.51% Market capitalization $1.3 trillion VOL. 24 hours $0.57 billion may increase by 642% from the current level.

This optimistic forecast was made by Kim Yoo-min, a researcher at Hanwha Investment & Securities, in his report Bitcoin: From Cyberpunk to Wall Street. The analyst believes that the value of BTC could reach about $ 460,790 by 2034.

Kim bases his analysis on data on gold and credit default swaps (CDS). He notes that bitcoin, like gold, provides investors with value preservation and decentralization. The expert believes that the cryptocurrency market may surpass the gold market in size. This is becoming more likely as politicians discuss the possibility of using bitcoin as a national reserve asset.

Kim also notes that investors holding US bonds are buying CDS to hedge the risk of government default. These transactions are similar to bitcoin in terms of hedging the central bank’s risk.

The analyst predicts that the US government debt will grow to $ 600 billion in 2034. Investing in bitcoin can help hedge the risks of a US government default. According to the expert, bitcoin has the potential to reduce money transfer fees and increase the availability of financial infrastructure. Assuming that 10% of the annual M2 supply of $ 1.6 trillion will be converted into bitcoin over the next 10 years, the coin’s growth potential is 642%.