Woah! American investment firm VanEck believes that Bitcoin will hit $4.8 million per coin. Can BTC become the global reserve asset?
to be a measure of the money supply that includes all bank deposits with a currency and its ability to be converted into cash.
In their assessment of gold’s per-ounce price, Fine and Gurushina leaned more toward the M0 price prediction of $31,000 as a reliable starting point because “a very big number of central banks have little or no reserve gold.” The lack of deposits skews the M2 prediction to a much higher and less reliable $105,000 per ounce of gold.including Bitcoin to transact for oil with their “friendly” partners China and Turkey.
The trend could apply to more nations’ central banks, and likely see the United States dollar’s dominance take a hit. Fine and Gurushina believe that the Chinese yuan should be considered the top prediction for a new reserve currency, but nations will probably reshuffle their holdings no matter what.
“Central banks are likely to change their reserve mix to the detriment of dollars and the enhancement of something else, to one extent or another […] As a result, some central banks — and private actors — will be diversifying their reserves.” The analysts urged readers to bear in mind that the predictions are merely starting points for investors to formulate a framework for how to value gold and BTC in the extreme instance either becomes a global currency. It noted that there are alternatives such as finite real estate, infinite equities and even emerging market currencies that could serve the function of gold or BTC.