The price of Bitcoin can reach the range from $1.3 million to $4.8 million, provided that it acquires the status of a world reserve currency, VanEck analysts believe.
The lower limit of the range is based on the monetary aggregate M0, which includes cash in circulation, the upper limit is based on M2, which includes M0, bank reserves and their “close equivalents.”
The specialists of the company have stressed the Chinese yuan is more likely to challenge the hegemony of the dollar.
The presented forecast is rather a starting point for investors who want to evaluate the value of the first cryptocurrency in an “extreme” scenario of the complete transfer of all world reserves into digital gold.
