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Cryptocurrency

Why Bitcoin might go for $3 million in 2025

People have no idea what it will look like when large banks and countries start holding bitcoin in their treasury.

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cryptocurrency, Buying sign: Number of Bitcoin Big players at record high

As the world’s flagship crypto – Bitcoin, continues to record astronomical growth, seen at unprecedented levels, some top fund managers anticipate this might just be the beginning.

Jason Williams, Co-Founder and Partner at Morgan Creek Digital, a digital asset-focused investment fund, recently spoke on why he believed it was just a matter of time, that the world’s most known crypto would hit at least the million-dollar status.

READ: Tether opens up 300,000,000 USDT

“Bitcoin could hit 1–3M dollars in the next 5 years. People have no idea what it will look like when large banks and countries start holding bitcoin in their treasury.

READ: CRR: Banks suffer N917.5 billion debits in latest CBN action

“To this, he also added that Bitcoin’s digital scarcity is a key feature in its continued growth across institutional contexts. If you’ve read any of our previous articles on Bitcoin’s value, then you know that we, at NBX, believe that digital scarcity is the crux of Bitcoin’s value, alongside its efficiency as a diversifier, among other factors.

READ: There are now 18,000 Bitcoin millionaires

“In other words, to pin down Bitcoin’s complete value proposition is a complex undertaking, which is why it’s important to nail down aspects of it that we haven’t mentioned yet.”

READ: CBN discloses eligible businesses, those ineligible to apply for N75 billion Youth Investment Fund

What it means

A major factor helping the hedge fund’s manager bias, is that the flagship crypto is a way out into the future. It is scarce and can never be forged by the International Monetary Fund or any single government, meaning it will always be scarce in principle.

Robert Breedlove, the CEO of Parallax digitals, also spoke via Youtube on Bitcoin’s safe-haven asset properties.

READ: CBN reveals framework for the N75 billion Youth Investment Fund

“Bitcoin is the first social institution in human history with laws that cannot be corrupted. There will never be more than 21 million Bitcoin, only the owner of a private key can move their Bitcoin, and (when properly kept) Bitcoin cannot be forcibly confiscated. Bitcoin is the only money maximally resistant to misappropriation in a world increasingly under siege by overreaching governments.”

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Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Follow Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.

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