Bitcoin Could Settle 10% of International Trade by 2050, Says Asset Manager VanEck
According to a report by asset manager VanEck, by 2050, bitcoin could be used to settle 10% of international trade and 5% of local trade, with central banks holding it as a reserve asset. The report highlights the importance of bitcoin layer-2 networks in overcoming scaling issues and enabling BTC to be used as a medium of exchange. However, the report also notes potential risks to bitcoin's growth, including increasing power demand, government crackdowns, and competition from other digital assets. VanEck predicts that BTC's price could reach $2.9 million by 2050, but only if certain obstacles are overcome.
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