The VP of blockchain and digital currencies for IBM, Jesse Lund, has said that he expects Bitcoin to hit $1 million eventually.
The vice president of blockchain and digital currencies for IBM, Jesse Lund, said that he expects Bitcoin’s (BTC) price to eventually hit $1 million. Lund made his prediction during an interview with comparison and news platform Finder.com, published on YouTube on Feb. 20.
Towards the end of the interview, Lund was asked what he expects the price of Bitcoin to be on this new year’s eve. He answered that he thinks it is going to be higher than the current price, clarifying, “I’ll go with $5,000.” He then continued his prediction, adding:
“I see Bitcoin at a million dollars someday.”
Lund explained that he “likes that number,” given that “if Bitcoin is at a million dollars, then satoshi is on value parity with the U.S. penny.” He noted that at such a value, the whole network would have over $20 trillion of liquidity. He then suggested that such liquidity could change corporate payments and high value payments in general, concluding:
“I see maybe $5,000 at the end of the year, but I see a way higher upward trajectory.”
During the interview, Lund also talked about IBM’s collaboration with Stellar (XLM) and the use of the network’s native asset in IBM’s cross-border payment network, Blockchain World Wire (BWW). As previously reported, IBM uses XLM in BWW both as an intermediate currency and to pay transaction fees.
Lund also revealed that the firm is considering working with various other digital assets, explaining that they believe “there should be an ecosystem of, a variety of digital assets that provide settlement instruments that enable these cross-border payments, and the participants in the network should be able to choose and negotiate their choices in real-time.” Lund went on to state:
“it could be Ripple, it could be XRP even, it could be Bitcoin, but it would also probably include other instruments, like stablecoins, and even eventually soon — hopefully — central bank-issued digital currencies.”
Lund made a point of differentiating IBM’s payment network from Ripple’s RippleNet, noting that the tech giant does not rely on their own bespoke token.
Visit the USSA News store!
Click this link for the original source of this article.
Author: Adrian Zmudzinski
This content is courtesy of, and owned and copyrighted by, https://cointelegraph.com and its author. This content is made available by use of the public RSS feed offered by the host site and is used for educational purposes only. If you are the author or represent the host site and would like this content removed now and in the future, please contact the USSANews.com administrator by using the contact form located in the top-left menu. Your request will be immediately honored. Please visit https://cointelegraph.com for more terrific, conservative content. The owner of this website may be paid to recommend American Bullion. The content of this website, including the positive review of American Bullion, the negative review of its competitors, and any other information may not be independent or neutral.