In 2022, the bitcoin rate will reach $ 200,000. This forecast was recently announced by the CEO of Pantera Capital Dan Morehead. This businessman is known for having previously talked about the gigantic potential of Bitcoin on several occasions.
According to Morehead, BTC is doomed to further growth, as more and more investors begin to understand that storing capital in cryptocurrency is much more efficient than in traditional instruments.
On the Pantera Capital blog, Morehead published an article in which he reiterated the strengths of Bitcoin.
The value of BTC adds $ 200 every time 1 million new users register on the network. If this dynamics continues, then the price of the cryptocurrency in 2022 will approach or even exceed the $ 200,000 mark.
The CEO of Pantera Capital stressed:
“For every million new users, the price of bitcoin rises by $ 200. This has always happened, except for February 2016, when the price was slowly falling. The price increase has been remarkably consistent. An important point: if this relationship continues, then bitcoin will reach $ 200,000 in 2022. «
According to the businessman, the spread of bitcoin is the result, among other things, of the growth in the number of smartphone users. Now in the world about 3.5 billion people own such devices, which makes Bitcoin available anywhere and anytime.
Institutional adoption is another driver of BTC’s long-term growth.
Morehead recalled that giants such as Morgan Stanley and PayPal have already entered the crypto sphere. When there are more institutions, then the price of bitcoin will «shoot» to a new maximum.