IBM’s VP of Blockchain Believes Bitcoin Will Hit $1 Million

Girish Chugh

February 22, 2019 1:14 pm

Bitcoin News

IBM's VP of Blockchain Believes Bitcoin Will Hit $1 Million
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Jesse Lund, the vice president of IBM’s blockchain and cryptocurrencies operations, expects that Bitcoin’s (BTC) market value would eventually reach $1 million. Lund made his prediction during an interview with comparison and news platform Finder.com. The interview was uploaded on YouTube on February 20.

Lund was asked about the status of Bitcoin’s price in the coming months, and he replied saying that it’s going to be higher than the current rate. He clarified, “I’ll go with $5,000,” further adding, “I see at a million dollars someday.”

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Lund explained that he “likes that number,” considering “if Bitcoin is at a million dollars, then Satoshi is on value parity with the U.S penny.” He mentioned that at such a value, the whole network would have over $20 trillion liquidity. Further, he suggested that such liquidity could change corporate payments and high-value payments in general, he then concluded, “I see maybe $5,000 at the end of the year, but I see a way higher upward trajectory.”

Through the course of the interview, the VP also talked about collaboration of IBM with Stellar (XLM) and the application of the network’s native asset in IBM’s cross-border system payment network, blockchain World Wire (BWW).

According to previous reports, IBM uses XLM in BWW both as an intermediate currency and to pay transaction fees. Lund also revealed that the firm is considering to bring various other digital assets, indicating that “there should be an ecosystem of a variety of digital assets that provide settlement instruments that enable cross-border payments, and the participants in the network should be able to choose and negotiate their choices in real-time.”

“it could be ripple, it could be XRP even, it could be Bitcoin, but it would also probably include other instruments, like stablecoin, and even eventually soon – hopefully – central bank-issued digital currencies.”

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