Never mind the current price action! There were several notable long term bitcoin price predictions this week. First up is Vaneck's Digital Assets Research, which stated its base case for bitcoin's price at $3 million in 2050. The bull case is a mind-melting $52 million. The prediction revolves around their beliefs about current and shifting trends in the international monetary system.
Next is from one of the most prominent bitcoin bulls, Michael Saylor of Microstrategy. He predicts that the price of a single bitcoin will hit $13 million by 2045. According to Saylor, BTC will trade like the S&P 500 — just with an extra 8% compound annual growth rate. Microstrategy then bought 18,300 more bitcoins! To round out this bullish news is a post on X with some bitcoin price hopium.
In other news, I highly recommend listening to the Odd Lots podcast episode with Austin Campbell titled, "The Booming Crypto Use Case That's Happening Right Now." Among other things, Campbell does a wonderful job of explaining why stablecoins are not just a (worse) reinvention of the current financial system. One of the reasons being that bank balances aren't fungible, so even sending dollars from one U.S. bank to another is a non-trivial process involving not just the transfer of funds, but both banks tinkering with their balance sheets. Stablecoins fix this.
Finally, I'll leave you with this uncharacteristically brutal retort from none other than Vitalik Buterin that had me laughing and reminding me of Don Draper. Perhaps the rumors of a Buterin paramour are true.
-David Sencil
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