Jesse Lund, IBM’s vice president (VP) of cryptocurrency, is positive that Bitcoin will have a market capitalization of 20 trillion U.S dollars. The VP of crypto said this will definitely happen since Bitcoin is headed towards the one million U.S dollars price tag.
The VP of crypto gave his predictions when being interviewed by Finder, a news outlet. Before it reaches the 1 million U.S dollars mark, Lund said, BTC will first touch the 5 thousand U.S dollars mark in 2019. The VP of crypto added that when Bitcoin finally hits $1M, a satoshi, the lowest bitcoin unit, will be equivalent to one U.S penny.
As the lowest Bitcoin unit reaches one penny, Lund notes, Bitcoin’s market capitalization will stand at 20 trillion U.S dollars.
During the interview, the VP of crypto also said that IBM is expanding the number of virtual currencies it is working with. Currently, IBM is working with Stellar Lumens where it’s using the XLM coin in its Blockchain World Wire, a cross-border payment solution.
According to Lund, the number of crypto assets to be added:
“Could be Ripple, it could be XRP even, it could be Bitcoin, but it would also probably include other instruments, like stablecoins, and eventually soon, hopefully, central bank issued digital currencies.”
The VP of crypto noted that the addition of extra coins is aimed at helping those interacting with Blockchain World Wire, to use a virtual asset of their choice.
On whether Blockchain World Wire and RippleNet are similar, the IBM’s VP of crypto said that the difference is that IBM’s cross-border payment solution does not use an IBM-developed token, unlike RippleNet which specifically uses the XRP token.
Since the IBM VP of crypto sees Bitcoin at $5K in 2019, how long do you think it will take for BTC to reach $1M?
Let us know your thoughts in the comments section below.