Hedge Fund Manager Predicts Bitcoin Will Reach $10 Million Per Coin Due to Global Economic Trends

Hedge fund manager Jesse Myers has recently predicted that Bitcoin will soar to an unprecedented $10 million per coin. In a recent interview with Coin Stories, Myers elaborated on his prediction by analyzing the current state of the global economy.

Myers argued that Bitcoin is emerging as a hard and scarce store of value in a world of ever-increasing debt and currency devaluation. As he noted, the national debt and unfunded liabilities of the United States alone currently total $31 trillion and $170 trillion respectively, and the interest expense is around $3 trillion per year. The only way out of this debt is to print more money, which devalues fiat currency and bonds.

According to Myers, Bitcoin is competing with fiat money and bonds as the lowest hanging fruit in terms of where people can park their value. Bitcoin’s maximum supply of 21 million BTC will create a massive supply shock as the leading cryptocurrency’s rate of adoption increases.

Myers believes that Bitcoin is currently competing in an asset world worth around $900 trillion in size, with a current global crypto adoption rate that is far less than some analysts believe. Currently, the world has only allocated 0.05% of its value to Bitcoin. However, Myers predicts that Bitcoin’s rate of adoption will increase, and that it will eventually capture 25% of the world’s value.

Myers broke down the math that brings him to $10 million per BTC in today’s dollar terms, which is centered on Bitcoin capturing half of gold’s market cap as well as additional percentages of the world’s top store of value categories. He believes that Bitcoin’s price target will become a reality within the next few decades.

Despite the positive outlook, Myers acknowledged the potential regulatory roadblocks that could hinder Bitcoin’s future. He also emphasized that Bitcoin’s virality is key to its future, and that it’s imperative for those who understand its benefits to spread the word and educate the next wave of investors.

In conclusion, Myers believes that Bitcoin has a conservative chance of becoming $10 million per coin in today’s dollars. While his prediction may seem bold, his analysis highlights the global economic trends that are driving the adoption of Bitcoin as a store of value.