• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Bitcoin BTC BTCUSD
Nexo Logo

Why So Bearish? Fidelity Suggests Bitcoin Price Could Rise To $100 Million

Reynaldo Marquez by Reynaldo Marquez
9 months ago
in Bitcoin
Reading Time: 3 mins read
Advertisement

Boston-based investment firm Fidelity presented one of the most bullish scenarios for the price of Bitcoin, Anthony Pompliano said in his podcast “The Best Business Show”. Based on the Stock-to-Flow model develop by analyst Plan B, BTC’s price could stand at $100 million by 2035.

With over $10.4 trillion in assets under management, Fidelity investment and its digital assets stand-alone company Fidelity Digital has been bullish on Bitcoin for a long time. The company started dabbing into the crypto space as early as 2014, Pompliano said, and started developing mining capabilities and BTC-based products.

The Bitcoin price prediction was presented during a Fidelity webinar called “Understanding Bitcoin, What Can History Teach Us?” by Jurrien Timmer, the firm’s Director of Macro. Timmer is a Bitcoin bull and has been making updates on BTC’s price via his Twitter account.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

On several occasions, he has compared BTC with Gold in 1970. The chart below was shared by Timmer on August 20th, showing the similarities between the cryptocurrency and the precious metal’s chart.

Bitcoin BTC BTCUSD
Source: Jurrien Timmer via Twitter

As the chart suggests, Bitcoin’s recent price action looks similar to that of Gold during that year. From this comparison and due to the growth in its fundamentals, Timmer believes BTC is “ready to resume its uptrend”.

The Stock-to-Flow model presented by Timmer predicts continues appreciation in BTC’s price due to a reduction in its annual inflation rate. By the end of the decade, when Bitcoin’s inflation rate will be around 0.5%, this model predicts that the cryptocurrency will be valued at $1,000,000.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

5 years later, as the same metric drops to 0.2%, BTC’s price will stand at $100,000,000. As Pompliano said, it’s unclear if the investment firm believes the prediction will be fulfilled, but

(…) according to the Stock-to-Flow model, which they appear to be believers (…) that is what the Stock-to-Flow model will show. Fidelity, as they become more interested in Bitcoin, appear to become more and more bullish on the asset itself.

Bitcoin To Overshadow Gold’s Bull-Run In The Coming Decades?

In the 1970s, Pampliano said, the price of Gold stood at around $35. After the U.S. de-pegged its currency from the precious metal, embracing the Fiat Standard, Gold has risen to over $1,800.

This has been one of the most “incredible repricing” of an asset in the past 100 years. If the same were to occur with Bitcoin, the cryptocurrency could see a 2000x increase from its current value at $48,845, at the time of writing. Pompliano added:

(…) if they (Fidelity) are saying that basically we are in the 1970s of gold but for Bitcoin now, they are calling for a very very material increase in the price of Bitcoin. To see Fidelity, show a chart that says that Bitcoin is going to be at 100 million dollars by 2035 is very incredible (…).

Pompliano reiterated that the fact that Fidelity, one of the biggest investment firms in the world with a lot of time exploring BTC and the crypto market, is showing this model to clients it’s a positive signal.

The Stock-to-Flow model evaluates an asset to make a price prediction based on its supply/demand. The model has been applied to Gold, equities, and other assets and proven to be accurate.

Analyst Plan B was the first to apply this model to BTC and, according to recent updates, it has proven to be accurate. However, the model is controversial and has many detractors that believe that it won’t be successful due to BTC’s characteristics.

#Bitcoin August closing price $47,156 .. like clockwork pic.twitter.com/3hkp71FTXo

— PlanB (@100trillionUSD) September 1, 2021

At the time of writing, BTC displays strength in the daily chart as the bulls attack the resistance at current levels. A break above $48,500 could lead BTC’s price to the lows at $50,000.

Bitcoin BTC BTCUSD
BTC on a rally in the daily chart. Source: BTCUSD Tradingview
Tags: bitcoinbtcbtcusd
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Reynaldo Marquez

Reynaldo Marquez

Related Posts

MicroStrategy

MicroStrategy Will Not Dump Any Of Its Bitcoin, CFO Reveals

14 hours ago
Bitcoin

Bitcoin NUPL Touches Lows Not Seen Since COVID Crash, Rebound Soon?

18 hours ago
Bitcoin

Long Liquidations Continue To Rock Market As Bitcoin Struggles To Settle Above $30,000

20 hours ago
El Salvador bitcoin

More Stress For El Salvador As Bitcoin Dips To $29,000

2 days ago
Bitcoin Selling Pressure Continues As Long-Term Holder SOPR Spikes Up

Bitcoin Selling Pressure Continues As Long-Term Holder SOPR Spikes Up

2 days ago
Bitcoin and Ethereum

Exchange Inflows Rock Bitcoin, Ethereum As Market Struggles To Recover

2 days ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Wildcoins Casino

Wildcoins Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

DeHub Launches The First Blockchain End-To-End Entertainment Hub

May 21, 2022

Carbon Removal Marketplace Achieves Key Milestone

May 21, 2022

NFCore (NFCR) Is Now Available for Trading on LBank Exchange

May 20, 2022

How to Gain Great Sums with Quitriam Finance (QTM), Cosmos (ATOM), Flow (FLOW)?

May 20, 2022

3 Cryptocurrencies that could give you Greater Gains: Mushe Token (XMU), Cardano (ADA), and Polkadot (DOT)

May 20, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Spin & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.