There have been lots of predictions regarding the future price of Bitcoin, but no one is yet to beat Jesse Lund in this game. Jesse works as the Vice President of digital currencies and blockchain at IBM. During an interview with Finder.com, Jesse said that Bitcoin has the potential to be valued at a whooping $1 million apiece. But that’s not the only thing he said.
$5k By News Year’s Eve
Asked about his price estimate for Bitcoin by New Year’s Eve, Lund had a somewhat bullish outlook, although not as strong as some of the other people. In his opinion, Bitcoin could be worth as much as $5k by the end of the year, but that doesn’t mean it can’t hit higher. In Jesse’s opinion, the long-term value of Bitcoin is bound for the moon.
$20 Trillion Liquidity
Further expounding on his $1 million price argument, Jesse went ahead to opine that such a high price would work to greatly increase Bitcoin’s liquidity given that a single Satoshi would then be worth 1 US penny. He estimated the total liquidity at that stage at around $20 trillion.
Such good liquidity would positively affect corporate payments as well as many others of high value. In that sense, Jesse is largely bullish for the longer term. In his own words, he said that he sees an upward price trend that could start to form as early as the end of the year, although he still maintained his $5k prediction for the New Year’s Eve. In all accounts, a $5k value would be higher than the current Bitcoin price.
IBM, XLM, And BWW
Jesse also touched on IBM’s engagement with Stellar (XLM) as well as the company’s use of the crypto on its BWW (Blockchain World Wire) network for cross-border payments. Also, he clarified that IBM is still open to more partnerships with even more digital asset networks in order to give users a wider range of options to choose from. The said assets may be XRP, Bitcoin, or even stablecoins. He also didn’t rule out the possibility of the company using other digital currencies issued by central banks.
The BWW network completed the beta stage back in September 2018. The deal for the partnership with Stellar was reached in October 2017. The BWW is beginning to attract customers, with the Canada-based crypto exchange, Coinsquare, being the latest entrant by buying out a Stellar-based DEX called StellarX.