During the last few months, several referents and specialists in the crypto market have suggested that bitcoin (BTC) could scale to USD 100K by the end of this year. However, there are only a little over two months left until the end of the year and a jump of 90% seems increasingly impossible. From Fidelity Investments, he believes that the goal could definitely be reached, but in 2023.
Jurrien Timmer, director of global macro at the financial company, assured that the supply and demand models of BTC would cross at USD 100K by 2023. Based on the latest price jump, he marked it as a “fairly sustainable move” that was not driven by traders.
Timmer was quite cautious in projecting the future of BTC within the traditional financial system. In his view, the leading cryptocurrency is already a real alternative as a store of value, but it has a long way to go before it becomes a massively adopted payment method.
For this reason, the businessman does not believe that BTC meets all the necessary conditions -for the moment- to be considered a “threat “to the hegemony of the US dollar as a global reserve currency.
The most optimistic within the ecosystem believe that BTC may be a main player in the financial system in a few years. In recent days, for example, BitMEX CEO Alexander Höptner suggested that by the end of 2022 at least five developing countries will accept Bitcoin as legal tender, as is currently the case in El Salvador.