IBM’s VP of Blockchain predicts that Bitcoin will hit $1 Million

By February 25, 2019 No Comments

Jesse Lund is the VP of block-chain and virtual currencies at IBM. He has stated that he sees Bitcoin’s price eventually reaching $1 million. He said this in an interview with Finder.com, a news platform, on YouTube in February.


As the interview reached its conclusion, the interviewer asked Lund what he thinks the Bitcoin price will be at the end of 2019. He said that he believes the price will be higher than what it is today and ended by saying he thinks it will be at $5,000. He then furthered his prediction by saying:


“I see Bitcoin at a million dollars someday.”


Lund stated that he “likes that number” as “if Bitcoin is at a million dollars, then Satoshi is on value parity with the US penny.” He pointed out that at this value, the Bitcoin network would have in excess of $20 trillion in liquidity. Lund indicated that this kind of liquidity could alter corporate payments and high value transactions in general, saying:


“I see maybe $5,000 at the end of the year, but I see a way higher upward trajectory.”


Lund revealed that IBM is thinking about working with many cryptocurrencies, explaining that they think “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.” He further stated:


“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 was keen to underline the differences between IBM’s payment network and Ripple’s RippleNet, stating that IBM does not depend on their own bespoke token.

BankDhofar, Oman’s second biggest bank by market value, is the most recent member of RippleNet. It has joined the network to enable cross-border transactions to India.


IBM brought its BWW payment network out of beta stage in September last year, after completing a partnership with Stellar in October 2017.

Recently, Coinsquare, the Canadian cryptocurrency exchange indicated an interest in the blockchain by buying StellarX, a Stellar-based decentralised exchange.


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