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News hardware & software 19 January 2021, 19:02

author: Bartlomiej Sagan

Bitcoin Will Reach the Million Dollar Mark?

Apart from the pandemic, the year 2020 has also brought another boom for cryptocurrencies. According to an expert, the most popular one among them, bitcoin, may reach a value of up to a million dollars a piece within a few years.

Those wishing to upgrade their computer are unhappy, while bitcoin owners are rubbing their hands with glee at the rising crypto exchange rates. The craze for mining virtual money resurfaced last year, and there's no sign of it ending anytime soon. Dan Morehead, the founder of Pantera Capital - a company dealing with investments in virtual currencies, believes that bitcoin will exceed the value of $115,000 by August this year. Anthony Pompliano of Morgan Creek Digital is slightly more skeptical, according to whom the $100,000 barrier will not be reached until late 2021.

Bitcoin Will Reach the Million Dollar Mark? - picture #1
Soon a single bitcoin may be worth a suitcase full of dollars

Given the above predictions, the opinion of a former hedge fund manager at Goldman-Sachs that bitcoin will eventually surpass a price of $1 million apiece is not surprising. Especially since Raoul Pal (who currently runs the Real Vision Group, a company that does complex economic analysis) is thinking in this case about a 5-year perspective. However, one should keep in mind the inherent instability of the cryptocurrency market. Despite the current value of $37,000 and positive forecasts that predict growth, a decline is always possible. Investors should also remember to properly secure their digital wallets and keep their passwords close.