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Bitcoin’s invention came to light in late 2008. In January of 2009, the Bitcoin network came into existence with the issuance of the first Bitcoins. Since Bitcoin was not listed on a publically traded exchange, it didn’t exactly have any intrinsic value. The price of Bitcoin in early 2009 was $0.00.

Bitcoin’s second year in existence turned out to be quite an exciting one. In May, bitcoin saw its first commercial transaction when two pizzas were bought from Papa John’s for 10,000 BTC. Since then Bitcoin price have reach $20,000 in December 2017. 

Is there any limit to this growth, and if so, where? While nobody knows for sure, lets review predictions by some notable Bitcoin evangelists, who see little hinderance in Bitcoin growing up to 200 times its current price. Here are five of those Bitcoin evangelists, and what they think Bitcoin will go on to be worth.

Chamath Palihapitiya – $1,000,000 (by 2037)

Chamath Palihapitiya, the founder of Social Capital and co-owner of the Golden State Warriors, started investing in Bitcoin in 2012. In 2013, he mentioned that he owns Bitcoin in his hedge fund, general fund, private account, and at one point he owned 5% of all Bitcoin in circulation.

Palihapitiya has predicted Bitcoin price will reach $100,000 in the next 3-4 years and in the next 20 years, it will be worth $1 million. He explained his prediction as based on the evaluation of Bitcoin as a store of value just like gold.

He said, “This thing has the potential to be comparable to the value of gold…This is a fantastic hedge and store of value against autocratic regimes and banking infrastructure that we know is corrosive to how the world needs to work properly

John McAfee – $500,000 (by 2020)

John McAfee is the founder of McAfee Associates which launched first commercial antivirus software in the late 1980s. He recently founded MGT Capital, a company that mines various cryptocurrencies in and outside the United States. John got involved with Bitcoin because according to him it will eventually become ‘the standard for the world.’

McAfee recently made waves in the cryptocurrency world after claiming that each unit of Bitcoin would be worth half a million dollars by 2020. He did not stop there. He went on to predict that Bitcoin could even reach as much as $2.6 million in the same time frame. There is no way of knowing whether McAfee did this to get attention or if he actually means it. Only time will tell.

Jeremy Liew – $500,000 (by 2030)

Jeremy Liew is a partner at Lightspeed Venture Partners, famed as the first investor in the social media app Snapchat. Liew’s other investments include the multimedia company Beme, the listing service VarageSale, and the hardware wallet LedgerX. His net worth is estimated at north of $2 billion.

In an exchange with Business Insider, Liew said that the Bitcoin price can “realistically” reach $500,000 by 2030. Liew’s prediction was backed by Peter Smith, the CEO, and co-founder of Blockchain — the world’s most popular Bitcoin wallet. The estimate was made on May 4, 2017.

Kay Van-Petersen – $100,000 (by 2027)

Kay Van-Petersen is an analyst at Saxo Bank, a Danish investment bank which specializes in online trading and investment. Based out of Singapore and with an MSc in Applied Economics & Finance from Copenhagen Business School, Van-Petersen is an active Twitter user with no fear of speculating on tough topics like the prices of cryptocurrencies.

Van-Petersen believes that Bitcoin will rise to $100,000 per unit by 2027, according to a feature by CNBC news published on May 31, 2017. As the man who successfully predicted Bitcoin’s flow up to $2,000 by 2017, Kay Van-Petersen’s most recent estimate, perhaps a little optimistic, suggests that Bitcoin would then account for 10% of the volume in the foreign exchange market.

Tom Lee – $91,000 (by 2020)

Tom Lee, co-founder of the market strategy firm Fundstrat Global Advisors and a well-known bitcoin bull, sees bitcoin’s price “easily double” in 2018. Lee initially set his bitcoin price target for $11,500 for mid-2018, and then increased it to $20,000 as the cryptocurrency’s intrinsic value had increased over the last few months due to the growth of new bitcoin wallets, according to him.

Tom Lee recently went a bit further stating that Bitcoin’s price will reach $91,000 by March 2020, basing his prediction on a chart that shows Bitcoin’s (BTC) performances after past market dips. Lee and Fundstrat used an average of the percentage gained in price after each dip to arrive at the 2020 figure.

Don’t wait until it gets to this high before you start. The best time to begin investing in BTC is now. If you want to know how contact me today.

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