Monday, October 25

Bitcoin (BTC) Forecast for 2031 from Robert Breedlove

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The CEO of crypto consulting firm Parallax Digital thinks the US dollar supply will expand massively over the next decade. He says that this will result in Bitcoin’s meteoric rise and it could rise to $12.5 million.

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In a new interview with Kitco NEWS, Robert Breedlove discussed the 50% drop in the leading cryptocurrency and the volatile nature of Bitcoin.

“Volatility is a natural function of price discovery. As the market value increases, it tends to contract. For this reason, it is inversely proportional to the market value. For this reason, we have seen that Bitcoin volatility has actually shrunk. It depends on how you define it as a store of value. So Bitcoibn is an asset that gains value in real time. It competes for a $250 trillion market, a global store of value.

Historically, gold was the most important thing to represent a value. Bitcoin offers us something radically new. Bitcoin is an excellent knowledge-based coin. Inelasticity of supply is the most important feature market actors look for in a store of value.”

Breedlove predicts that the Bitcoin price will increase with the explosion in the US dollar supply.

“The expansion of the money supply is regulated by a law. It is called the issuance and depreciation acceleration law. The more coins you mint, the more coins you have to mint later for the system to continue. US M2 (money supply) expansion will likely double again in the next four years. And then my expectation is for it to double again. In ten years, this rate will increase by 100% every year.

By that time, due to the expansion in the money supply, it had increased from US$100 trillion to 1,250 trillion M2. Bitcoin will be nominally worth $12.5 million by the end of the decade. “

Parallax Digital’s president adds that he expects BTC to rise by over 750% before the leading crypto asset reaches its peak.

“I sent a model before. Bitcoin peak appeared at $244,000. We posted this three years ago and it’s still active on Twitter. I changed this model in the wake of COVID because I think inflationary pressures on the US dollar will become particularly evident around 18 months after the pressure begins, which will parallel the next Bitcoin price peak. I think we can break $300,000 this market cycle… $307,000 to be precise, that’s our current model price.”

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