Could it become global de facto currency for the unbanked?
In Brief:
New research from Standard Chartered predicts Bitcoin will double in value by early 2022 and could be worth as much as $175,000 in the long-term.
Bitcoin currently trades at around $46,000.
The bank's research team would "structurally" value Ethereum, the second-most traded crypto asset,at $26,000-$35,000 should Bitcoin reach the $175,000 threshold.
What does this mean?
Standard Chartered believes bitcoin may become the dominant peer-to-peer payment method for the global unbanked in a future cashless world. Just this week El Salvador became the first country to adopt Bitcoin as its official currency because so many of its citizens don't have traditional bank accounts.
