The vice president of digital currencies and blockchain for the tech giant IBM, has said that he expects Bitcoin to hit $1 million at some point.
Bitcoin at $1 Million
Jesse Lund, the vice president of blockchain and digital currencies for the technology giant IBM sat for an interview with Finder.com – a comparison and news platform on February 20th.
Naturally, as in almost all cryptocurrency-related interviews with important industry figures, Lund was asked about the price of Bitcoin and what he thinks it will be by the end of 2019.
Lund said that he believes the price will be higher than what it is right now, although not by much. He said that it will be around $5,000. Nevertheless, he also said that he sees “Bitcoin at a million dollars someday.”
The expert outlined that he sees this number as appropriate because “if Bitcoin is at a million dollars, then Satoshi is on value parity with the U.S. penny.” He also argued that if that’s the case, the entire network will have liquidity of over $20 trillion which could change corporate payments as well as high-value payments.
In regard to IBM, Lund said that the company considers working with a range of different digital assets. According to him “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.”
IBM and Blockchain
IBM’s march into the field of cryptocurrencies has been perhaps one of the most serious amid other technology companies.
The tech giant most recently entered into a partnership with the Freshwater Trust and SweetSense Inc., to combat drought in California through the usage of blockchain technology.
The company also teamed up with car manufacturer Ford Motor Company on a blockchain in order to track ethically sourced minerals in the Democratic Republic of Congo. Interestingly enough, this particular partnership also includes other marquee companies such as LG Chem, Huyaou Cobalt, as well as RCS Global.
What do you think of the prediction of IBM’s VP of Blockchain? Share your thoughts down below!