Bitcoin transactions are confirmed by miners who are rewarded with a BTC for each block that is verified and added to the blockchain. The bitcoin block reward is reduced by half every four years. As a result, miners receive less BTC over time.
Today, bitcoin prices are trading at around $ 49,9. Various aspects of bitcoin make it an incredible financial technology with the potential to revolutionize the world.
Are there any limitations that are set for bitcoin development? If yes, where is it?
There is a wide range of long term and short term bitcoin price predictions. There also exist some predictions that are not constrained to any time period. Below are some predictions from the famous bitcoin publicists.
Pishevar claimed that Bitcoin will reach $100,000 by 2021
Sherwin Pishevar is an angel investor and venture capitalist. He is also the co-founder of Hyperloop One and Sherpa Capital. He has invested in several tech giants such as Uber and AirBnB.
This veteran investor tweeted that given its fast pace of acquisition, bitcoin will reach $ 100,000 by 2021. It is not surprising to see how Pishevar is considering his meeting with Bitcoin and his previous predictions about the United States economy.
Casares believes that Bitcoin will hit $1 million by 2027
The founder, as well as CEO of Xapo – a Bitcoin wallet startup – Wences Casares, is also a board member at PayPal, among many other roles. The reason Caesar became interested in bitcoin is due to the high financial instability experienced by the peso, the native currency of his hometown Argentina. After this, the tech giant was adamant on buying its first bitcoin in 2011.
In New York, Casares claimed at the consensus 2017 conference that he strongly believed that bitcoin would bump to $ 1 million before 2027. Even better is that on 23 May 2017 he also claimed that bitcoin would bypass $ 1 million within the next 5 to 10 years.
Winklevoss predicted that Bitcoin will reach $500,000
Tyler Winklevos, one of the famous bitcoin billionaires out there, said that the bitcoin market has the potential to emerge with the speed of light and has successfully reached a price of $ 500,000 by 2030. This evolution will put its market cap at a certain level compared to gold.
Liew said bitcoin prices could actually reach $ 500,000 by 2030
Jeremy Liew is a partner at Lightspeed Venture Partners. The reason he is famous is because he is the first investor in Snapchat, a very well-known social media application. He has also invested in the listing service WaresCell, hardware wallet LaserX and multimedia company BAM.
In May 2017, Liew claimed in a currency with a trade insider that, in reality, bitcoin prices could hit the $ 500,000 figure by the year 2030. Peter Smith, who is the CEO and co-founder of “Blockchain.com”, the world’s most famous bitcoin wallet, supported this prediction.
Chamath Palihapitiya said bitcoin will bypass $ 1,000,000 by 2037
The founder of Social Capital and co-owner of Golden State Warrior, Chamath Palihapitiya started his bitcoin journey by investing back in 2012. By the year 2013, he successfully added bitcoins to his general fund, private account and hedge fund. There was a point in time when he owned 5% of all developed bitcoins.