From the case for a meteoric rise in the price of Bitcoin to news from a popular Ripple-backed startup, here’s a look at some of the stories breaking in the world of crypto
Lucid Investment Strategies is making the case for Bitcoin’s possible rise to $10 million per BTC. The firm, which has about $664 million in assets under management, says spiraling global debt and extreme wealth inequality could create a perfect storm that solidifies Bitcoin as the new gold standard.
“Is that a big jump? Absolutely! Is it possible? Yes.
Why $10 million? At that level, Bitcoin would provide a sufficient reserve to alleviate the world debt burden. Bitcoin would be worth between $180 trillion and $210 trillion (depending on when that price was reached). Assuming world debt had reached $500 trillion at that time – remember it has grown by 394% over the past 20 years – Bitcoin would represent a 40% reserve against the debt.”
As for when Bitcoin will hit a bottom, Lucid believes Bitcoin’s price will fall to $1,000 before beginning its path to new all-time highs.
Ripple and XRP
The Ripple-backed micropayment startup Coil is finally catching up with a crush of new subscribers.
The company offers a new way for web surfers to send micropayments to the websites they visit. Users can pay in a variety of denominations, including XRP. The platform, which was founded by Ripple’s former chief technology officer Stefan Thomas, saw a burst of signups after opening its doors late last year.
We’ve officially caught up on our 2018 waitlist. Anyone who signed up before 1/15/2019 should have received an email from @Coil.