09 September 2021

Standard Chartered sees Bitcoin hitting $100,000 by early next year

Written By FinTech Alliance in Blockchain

Standard Chartered sees Bitcoin hitting $100,000 by early next year

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.

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