Bullish or nuts? Fidelity predicts $100M bitcoin in 2035

[Poker Player]

I don't know what to think anymore, until not too long ago, professional investors either dismissed Bitcoin or said it was a scam, a ponzi scheme etc. Now it seems that they are changing their minds Saylor's style. In the case of Fidelity, it's not that they have changed their mind, as they started mining in 2014, but they have just come off the hook with a prediction that a couple of years ago would have seemed too crazy to us:

Fidelity Predicting $100 Million per Bitcoin by 2035

"...the firm is putting out bullish reports on Bitcoin and sees the leading digital asset hitting $1 million before this decade is over and a whopping $100 million by 2035.

This much hopium was difficult to digest for some as one Redditor noted, “Bitcoin is not gonna reach $100 million. That would give it a market cap of $2,100 trillion. The total wealth of the entire world is $418 trillion.”

I suppose that here they take into account inflation by massive printing, because otherwise it is simply impossible.

[1715508955]

1715508955

[1715508955]

1715508955

[1715508955]

1715508955

[dkbit98]

That is overly optimistic price for Bitcoin at the moment, but I would not be surprised if we see that in next few years with some global hyperinflation and economic fall.
Fidelity is probably trying to manipulate markets like always, but $100 Million today is not as much like it was 20 or 30 years ago, and in next few years it may be worth even less with prices of food and everything else going up.
Check out this interesting Bitcoin spiral price chart and tell me again if you think that BTC can't go much much higher if spiral continues to go like this and follow the trend.


https://twitter.com/therationalroot/status/1431484692201545732

[Lucius]

$1 million before the end of this decade is in some domain possible if now we are at $50k, which would mean an increase of only 20 times, and we had such an increase in only one year (2017). I don’t know the right word to comment on $100 million per BTC, but the facts say it’s in the realm of science fiction, unless the people at Fidelity know something we don’t.

Never say never when it comes to Bitcoin, but I think they exaggerated this time, and quite a bit.

[The Sceptical Chymist]

"...This much hopium was difficult to digest for some as one Redditor noted, “Bitcoin is not gonna reach $100 million. That would give it a market cap of $2,100 trillion. The total wealth of the entire world is $418 trillion.”

Gotta love it when journalists quote random Reddit users (same as when mainstream media quotes Twitter quotes).  And even though there's a good point there, as you mentioned with the money-printing being rampant $2100 trillion might not be such a stretch of the imagination.

OP, what is it you said about Fidelity mining bitcoin?  Is that true?  I never heard anything about that (or don't remember).  It seems odd to me that a brokerage would be mining any cryptocurrency--but it's a strange new world we're living in. 

In any case, this is a throwaway prediction IMO.  They're speculating on bitcoin's price 14 years from now, and nobody is going to remember their prediction that long into the future unless someone goes digging for it.  My guess is that there's an ulterior motive behind their statement, since it seems incredibly bullish to say the least.  They're probably trying to give bitcoin some hype for their personal gain directly or for their customers.  And yeah, I'm being very cynical but that's what I think.

[palle11]

"...the firm is putting out bullish reports on Bitcoin and sees the leading digital asset hitting $1 million before this decade is over and a whopping $100 million by 2035.

I believe that a decade is same as 100 years and we already used 20 years and 8 months from it with 79 years and 4 months remaining. So if we calculate by the range of performance so far that bitcoin is around $50,000 , I can say it may not be possible but with the mysterious volatility of bitcoin I don't know what to conclude on that but the question is if bitcoin will get to $1million ?

$1 million before this decade is over and a whopping $100 million by 2035.

But I don't know if OP is making a mistyon the figures highlighted above. A decade is hundred years and $1million while 2035 is 14years from now and having $100 million. So which is greater between 1million and $100 million in comparing the years. I don't know if my observation is understood if I'm right, maybe Op can edit the figures but if I'm wrong, I'm sorry it may be I didn't understand the figures well myself.

[teosanru]

I don't know what to think anymore, until not too long ago, professional investors either dismissed Bitcoin or said it was a scam, a ponzi scheme etc. Now it seems that they are changing their minds Saylor's style. In the case of Fidelity, it's not that they have changed their mind, as they started mining in 2014, but they have just come off the hook with a prediction that a couple of years ago would have seemed too crazy to us:

Fidelity Predicting $100 Million per Bitcoin by 2035

"...the firm is putting out bullish reports on Bitcoin and sees the leading digital asset hitting $1 million before this decade is over and a whopping $100 million by 2035.

This much hopium was difficult to digest for some as one Redditor noted, “Bitcoin is not gonna reach $100 million. That would give it a market cap of $2,100 trillion. The total wealth of the entire world is $418 trillion.”

I suppose that here they take into account inflation by massive printing, because otherwise it is simply impossible.

100 million is definitely too much to even expect. At this point obviously even I would say its nuts but someone in 2012 would also have have said that Bitcoin going to 60k is nuts, despite that I think btc adoption is already too high, this price would mean a lot of money has to flow into cryptos, so unless all the money from stock markets and forex markets flows into cryptos there aren't a lot of chances this would happen.

[hatshepsut93]

I don't think it's nuts or bullish, I think Fidelity just has a huge interest in seeing more Bitcoin investing happening, and what better way to promote it than to predict a huge price rise? People who hold Bitcoin or otherwise has some interest in it will always be bullish, otherwise it wouldn't make sense for them to do so.

[fiulpro]

I do not even think that the bullish run that happened in 2021 was something that we were able to predict, most of the times people did take it super lightly and at the same time they had no idea of what was happening and it was all so sudden. I do think that right now people are more focused on investing in Bitcoins and other cryptocurrencies and they do understand for a fact that other countries and companies are also investing in the same so the price will definitely rise. So I do think that we will be seeing a bull run soon enough. It might as well be 100k and they just posted about it therefore more and more people are now going to be interested in it and might invest more.

[Upgrade00]

I don't know what to think anymore...

Public sentiment about Bitcoin or any investment shouldn't be that important to you except for trading purposes. Opinions are borne from personal interest and that changes at a heart beat. A company would change their position about Bitcoin if that position favours them and their interest would possibly not favour you:
• Always have your own opinion,
• Study the fundamentals,
• Do Your Own Research,
• Take all other opinions with a pinch of salt.

OP, what is it you said about Fidelity mining bitcoin?  Is that true?  I never heard anything about that (or don't remember).  It seems odd to me that a brokerage would be mining any cryptocurrency--but it's a strange new world we're living in.  

I came across the news sometime this year or last, it was one of their executives who was quoted to have said that, they started mining Bitcoin experimentally very early on. Here's one link I could find;

The company is testing the Coinbase holdings integration with its employees, Johnson said. “I love this stuff – bitcoin, ethereum, blockchain technology – and what the future holds,” Johnson said at a blockchain conference called Consensus in New York City.

[BIT-BENDER]

2035 is fourteen years from now, fourteen years ago from now I think Bitcoin existed only in the mind of Satoshi, how unbelievable looking on up till this time how the price stands, anything can happen in the next fourteen years, but $100 million is outrageously high even for the next fourteen years from now, I think it's a luring prediction for those who don't have Bitcoin, but I have to stand out of the prediction, I don't think it would be the price of Bitcoin at that year, but am sure the price will be high enough to surprise us when we look backward fourteen years from 2035.

[cryptomaniac_xxx]

The only reason that bitcoin can go as high as what Fidelity has prediction is that by around that time, almost all bitcoin has been mine, meaning the supply is dwindling and everyone wanted to get a piece of it that will push the price even higher.

But then again, these guys have their narrative behind to predict that the price could hit $100 million in the next 14 years, so let's say they need to exaggerate things a bit.

[inoes]

If we look at history, Bitcoin is usually increasing the price after a havling occurs. So let's count if now Bitcoin has a price of 50,000 $, then after Havling 4 in 2024 the price will be 100,000 $ then Havling 5 in 2028, the price will be 200,000 $ then Havling 6 in 2032, the price is 400.00 It is a very simple scheme. Is that possible? Very possible if Bitcoin always rises at least 100% of the price before havling. But it's really draining world money

[Turbolinea]

This could be one of the very optimistic predictions. We have fourteen years ahead to reach 2035. It is a really huge gap to be honest. Everything can happen in such a long time period. However, $100m is a really insane level. We don't know when it will be able to reach even $1m now. We are hoping it to reach at least $100k for now.    We need a lot of bull runs and they should last long to have a high probability of seeing $100m in that year.

[The Sceptical Chymist]

A company would change their position about Bitcoin if that position favours them and their interest would possibly not favour you:

On the other hand, I don't think you'd want to do business with a financial services company like Fidelity if their views were so entrenched that they wouldn't change them if presented with new data.  That could be a recipe for disaster as far as your financials go.

I came across the news sometime this year or last, it was one of their executives who was quoted to have said that, they started mining Bitcoin experimentally very early on. Here's one link I could find;

The company is testing the Coinbase holdings integration with its employees, Johnson said. “I love this stuff – bitcoin, ethereum, blockchain technology – and what the future holds,” Johnson said at a blockchain conference called Consensus in New York City.

That link doesn't work for me for some reason.  But in any case, that's one man's opinion, not Fidelity's official statement on bitcoin (or at least that's what it appears to be).  I don't see anything about mining in that statement either, and I doubt Fidelity does any mining themselves.  That would be a bit strange.

[Silberman]

I don't know what to think anymore, until not too long ago, professional investors either dismissed Bitcoin or said it was a scam, a ponzi scheme etc. Now it seems that they are changing their minds Saylor's style. In the case of Fidelity, it's not that they have changed their mind, as they started mining in 2014, but they have just come off the hook with a prediction that a couple of years ago would have seemed too crazy to us:

Fidelity Predicting $100 Million per Bitcoin by 2035

"...the firm is putting out bullish reports on Bitcoin and sees the leading digital asset hitting $1 million before this decade is over and a whopping $100 million by 2035.

This much hopium was difficult to digest for some as one Redditor noted, “Bitcoin is not gonna reach $100 million. That would give it a market cap of $2,100 trillion. The total wealth of the entire world is $418 trillion.”

I suppose that here they take into account inflation by massive printing, because otherwise it is simply impossible.

And that is exactly the problem with predictions that go so far away, supposing that bitcoin reached 100 million then we need to wonder what you can buy with that money at that time, if what you can buy is less than what you can buy with bitcoin at the current prices then the price of bitcoin basically remained stagnant during those 14 years, we must remember that at the end of the day the price of bitcoin is not what matters but what you can buy with it.

[Cafex]

Fidelity might or might not be nuts. It is really hard to predict that. There is a long way ahead of us until getting there. So many things can happen in this market until then. Maybe Bitcoin price won't be able to reach such level in that year. But I believe that Bitcoin price will be at least a few million dollars by then. Because the demand always continues to increase.

[jossiel]

The effect to make it possible goes with a high inflation for it to happen, how much would be things by that time.

So it goes within 14 years that the price of bitcoin is going to be $100M with their prediction in that return. If someone can hold at least 0.01 BTC by that time then he will have $1M.

[flip4flop]

The fact we have moved so much already last year after the halving is no shock. I think 100k by 2035 is very easily doable and actually seems like a very conservative price target. We could go through 4 or 5 bear market cycles and still breakthrough 100k by then. Much of this will depend on how regulation rolls out across the world and getting the transaction fees down a bit but I think it is very achievable.

[wajik-tempe]

The fact we have moved so much already last year after the halving is no shock. I think 100k by 2035 is very easily doable and actually seems like a very conservative price target. We could go through 4 or 5 bear market cycles and still breakthrough 100k by then. Much of this will depend on how regulation rolls out across the world and getting the transaction fees down a bit but I think it is very achievable.

I think you misses read the title, it's not 100k but 100m. 100k is really possible even in this decade. But $100m will overprice and this will only happen if all people in this world are using bitcoin and cryptocurrency becoming the main transaction currency in this world.
Imagine if the price is $100m, and the circulation supply is almost 100% , the marketcap will be so big and it must be make people attention.

[Poker Player]

OP, what is it you said about Fidelity mining bitcoin?  Is that true?  I never heard anything about that (or don't remember).  It seems odd to me that a brokerage would be mining any cryptocurrency--but it's a strange new world we're living in. 

This is what they say in the article I linked to: "Fidelity, which also has its own crypto arm, Fidelity Digital Assets that builds enterprise-grade bitcoin custody services for large institutions, isn’t new to the space as it first started mining Bitcoin (BTC) in 2014 and then Ether as well."

Since you said you hadn't heard anything (I hadn't either), I googled it and found this:

"Fidelity's early exploration of blockchain and digital assets has inspired several key innovations that underlie the solutions we've built at Fidelity Digital Assets. We began research and development efforts in 2014, started mining bitcoin in 2015, and tested our first wallet and storage solution with employees in 2016. During this time we have seen a steady evolution of institutional demand for custody and trading services, and we have responded with a solution that meets the needs of the most sophisticated investors in this emerging asset class."

Source: https://www.fidelitydigitalassets.com/about-us