Van Eck predicts ‘Hyper Bitcoin’… “Stablecoin, financial complementary tool”
India strengthens virtual asset exchange registration process… “This year’s trend is stablecoin cards”
Global asset management company Van Eck has issued a long-term forecast that the price of Bitcoin (BTC) could soar up to $53.4 million in 2050.
At 9:23 am on the 12th, the domestic Bitcoin price on Bithumb is 134,030,000 won, up 0.09% from the same time the previous day.
At the same time, the overseas Bitcoin price based on CoinMarketCap was $91,011, up 0.62% from the same time the previous day. It was trading at around $90,000 the previous day, but recovered to the $91,000 range on this day.
According to Decrypt on the 11th (local time), Van Eck said, “Bitcoin could hit a maximum of $53.4 million by 2050.”
VanEck assumed a ‘Hyper Bitcoin’ scenario in which the Bitcoin market size accounts for 20% of global trade transactions and 10% of the US gross domestic product (GDP). If this scenario becomes a reality, it is predicted that Bitcoin will become a reserve asset with the same or greater demand as gold.
Van Eck predicted, “Even if it is not a hyper Bitcoin scenario, Bitcoin will rise to $2.9 million in 2050.” This scenario assumes that the Bitcoin market size has grown to 5-10% of global trade transactions.
Global investment bank JP Morgan evaluated stablecoins as ‘complementary financial tools’ rather than ‘systemic risks’.
According to CoinDesk on the 11th (local time), about 100 U.S. regional bank representatives recently urged U.S. senators to address loopholes in the stablecoin bill. The argument is that stablecoins can replace bank deposits and increase liquidity risk.
On the other hand, JP Morgan took the opposite view. JP Morgan analyzed, “The structure in which central bank currency and institutional and commercial bank currency are distributed in various ways will not change,” and “Deposit tokens, stable coins, and existing payment methods will have different forms, but their roles will complement each other.”
India is strengthening the new registration process for virtual asset exchanges.
According to Cointelegraph on the 11th (local time), Indian financial authorities are strengthening regulations to require new users of regulated virtual asset exchanges to authenticate themselves through real-time face authentication and location verification.
The purpose is to block money laundering through virtual asset platforms and prevent illegal transactions that exploit anonymity.
In addition, anti-money laundering (AML) requirements are being strengthened, such as verifying accounts by allowing users to transfer small amounts from their bank accounts.
It is predicted that the payment market using stablecoin cards will become a trend this year.
Haseeb Qureshi, managing partner of blockchain venture capital (VC) Dragonfly, said on the 10th (local time) through
He explained, “The stablecoin card payment market is growing rapidly around the world,” and “Users can purchase goods and services anytime, anywhere without being aware that they are paying with virtual assets.”
chsn12@news1.kr
