The bitcoin (BTC) exchange rate has been pretty sad for a while. Just over a year ago, the price hit a new all time high of just under $70,000, but today BTC is hovering around $20,000, or even just below that, as is sometimes reported in the bitcoin news. According to Robert Breedlove, the founder of the crypto investment firm Parallax Digital, this price will explode again to unexplored heights in the next ten years.
Bitcoin price
In a interview with Altcoin Daily Breedlove says he expects the US dollar to fall completely sooner or later. At the moment the dollar is still doing quite well, especially compared to the euro and the British pound, but that will not last, according to Breedlove.
At the same time, according to him, this means that the price of BTC will shoot up. Breedlove believes that by 2035 hyperinflation will have massively devalued the dollar. If this happens, BTC will only increase in price as more people choose an alternative.
$12.5 million BTC
According to Breedlove, this means a bitcoin price of no less than $12.5 million! He does indicate that this is expressed in the value of the dollar, which at that time is only a fraction of its value compared to now. In 2020 dollars, Breedlove is targeting a bitcoin price of $1 million. This will still sound like music to the ears of many bitcoin investors.
“On a side note, that would only be a $1 million bitcoin price in 2020 dollars, so the 2020 purchasing power at the time I made the forecast would be the equivalent of $1 million US in Bitcoin.”
This is, of course, a pretty optimistic bitcoin price prediction from Robert Breedlove. Whether his prediction will actually come true remains to be seen. Nobody has a crystal ball, not even former hedge fund manager Breedlove.
