Bitcoin’s Future Valuation
Forecasting bitcoin’s long-term price trajectory is no simple task, but that hasn’t stopped industry proponents from giving lofty valuations about where the digital currency is headed. Last month, serial strategist Tommy Lee said $25,000 was too conservative of a price point for bitcoin.
John McAfee, who plans to launch his own cryptocurrency, believes bitcoin is already headed to $500,000. He believes it will get there in three years.
In an amusing Twitter post, McAfee added the following:
“I have a doctorate in point-set-topology. It predicts BC at $2,431,031 in 3 years. other math systems – between $1,900,000 and $2,600,000.”
Bitcoin’s investment appeal stems from its function as a store of wealth and utility as a censorship-resistant global transfer system. Price independence is also one of bitcoin’s astonishing features.