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Bitcoin Price to $500,000!! says Snapchat's first Investor

Hold on, investors – you haven’t seen anything yet!

According to Peter Smith, Blockchain CEO/co-founder, and Jeremy Liew, Snapchat’s first investor, bitcoin’s price could hit $500,000 by 2030. The pair made their case for this projection to Business Insider.

There are several factors behind this projection.

Factors To Consider
Remittance transfers are one reason. Bitcoin transfers to foreign countries have nearly doubled in the past 15 years and account for 0.75% of GDP, according to the World Bank.

The duo claim bitcoin-based remittances will increase sharply as awareness builds.

Political uncertainty in the U.S., the U.K. and developing nations is another factor. As geopolitical risks increase, rising bitcoin awareness combined with ease of transport and continued strong market performance will boost consumer and investor interest in bitcoin.

The growth of mobile transactions is another factor. Non-cash transactions will jump from 15% to 30% over the next decade as smartphone use increases. The total number of smartphone users is expected to reach 1 billion by 2020.

GMSA, a global organization representing mobile phone operators, predicts 90% of new users will be from developing nations. Nearly everyone will be able to have a bank in their pocket. Bitcoin could account for half of these transactions.

Model Drivers For The Projection
Smith and Liew based their projection on the following model drivers.

A $1,000 bitcoin price in 2017.
The bitcoin user network will grow 61 times through 2030. A population of bitcoin users comprising 5% of the world’s population in 2030 will drive the price to $500,000 in 2030. From 2013 to 2017, the network grew from 120,000 users to 6.5 million users, nearly a 54-fold gain. Such growth would produce 400 million users in 2030.

The average bitcoin value per user will hit $25,000. When institutional investors cash in their bitcoins, bitcoin-based ETFs and trading by sophisticated investors will increase, pushing the average value to $25,000. With a current market cap of $17.4 billion and 6.5 million users, the average user now holds $2,515 of bitcoin.

The 2030 market cap is based on the number of bitcoin holders multiplied by the average held bitcoin value.

The cryptocurrency’s 2030 supply will be about 20 million.

Last modified on April 11, 2017
JAVC Enterprise

Headquartered in Margate, Florida, JAVC Enterprise Corp (JAVC) is the creator of the Java Coin, a cryptocurrency (a form of digital money). While maintaining privacy of customers, JAVC utilizes proprietary techniques to verify ownership of coin holders, secure and monitor transactions, trace and track identities of senders and receivers, maintain all record keeping efforts, protect coins from theft, maintain liquidity and stabilize value of the cryptocurrency.

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