Member-only story
$1 Billion per BTC? Don’t Get Ahead of Yourself
I’ll believe it when I see it.
Non-members can read the full story here.
Jurrien Timmer, Director of Global Macro at Fidelity Investments — one of the largest asset managers in the world, mentioned in 2021 that Bitcoin could reach $1 billion by 2038.
At the same time, he also forecast BTC to hit $100,000 sometime in 2023.
This relates to his demand model coupled with the Bitcoin stock-to-flow model (more on this later) and how it relates to Metcalfe’s Law. According to Wikipedia (CC BY 4.0), this is the financial value or influence of a telecommunications network is proportional to the square of the number of connected users of the system.
Why am I mentioning this now? I listened to a podcast episode released earlier this week featuring the incredible price prediction. So, I thought it would be worth exploring this idea.
“I have a supply model and a demand model, and the next and last time that those two models intersect is at around $100,000 in a couple of years.”
Jurrien Timmer, 13 October 2021
