So I read this article from Palm Beach Confidential where they are saying that the IMF is thinking about adding Bitcoin to their basket of Elite Currencies.
The IMF has nearly $300 billion in SDRs. That’s money that member states can use to supplement their official reserves. If bitcoin were added to the SDR, that’s potentially billions of dollars of new demand that could pour into cryptocurrencies.
So not only will we see institutional investors buying bitcoin… but national governments adding bitcoin-denominated assets to their reserves, too.
By my back-of-the-napkin calculations, if the IMF adds bitcoin to its basket of elite currencies… we could see bitcoin attract $200–$300 billion over the years.
That’s two to three times more than its current market cap.
Sounds like some pretty amazing news and if this comes true we might see this 1 million dollar Bitcoin happen within a span of 5-10 years from now.
