Bitcoin Nears $50k Again And Fidelity Makes An Astonishing Crypto Prediction

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Last Updated on 2 September 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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All major coins turn green this morning with Bitcoin nearing $50k again, Ethereum trending upwards to the $4k point and Cardano breaching the $3 mark.

Further down the CoinMarketCap top 10 we see how Dogecoin breached 30 cents again and that VeChain also put in a nice performance, up 11% at the time of writing. Meanwhile, major companies are making hyperbolic predictions as to the future of Bitcoin.

A leaked file on Reddit shows that Fidelity Group hypothesizes the price of Bitcoin could reach, wait for it, $100 million by the year 2035. The company bases these predictions, among other things, on the pace of Bitcoin adoption over the years.

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Bitcoin at $ 100 million: a realistic or too daring comparison?

Investment giant Fidelity Group shared its forecast of $ 1 million Bitcoin by the end of this decade, and $ 100 million by 2035, in a webinar on August 26, 2021. Fidelity Digital Assets, the group’s crypto arm, began to dive into Bitcoin in 2014.

Jurrien Timmer, director of Global Macro Fidelity, who hosted the webinar, used graphics to try to explain and justify these (let’s be honest here) more than optimistic forecasts to his audience.

One of the graphs compares the adoption curve of BTC encrypted by the number of active addresses and the number of active addresses with a non-zero balance, to broadband subscriptions, to the number of internet users, and to subscribers to mobile telephony.

According to the graph, the price of Bitcoin will reach $ 100 million thanks to an exponential growth of this adoption curve, from 2009 to 2035.

Reddit users were very enthusiastic when they saw the prediction.

maximsamos / Depositphotos.com