- VanEck's Bitcoin report predicts that BTC may hit a $61 trillion market cap by 2050.
- Marathon Digital acquired more bitcoin, urging world governments to use the asset as a reserve.
- BTC slides below $65K as Bitcoin Conference commences.
Bitcoin (BTC) declined by 1% on Thursday following asset manager VanEck's forecast that the top digital asset will reach a $61 trillion market capitalization by 2050.
VanEck foresees Bitcoin dominance amid current dip
Asset manager VanEck released a report on Wednesday predicting that Bitcoin will become a reserve currency among industries and countries by 2050. The report predicted that the price of BTC will hit $2.9 million per coin around that period, driving its market cap to $61 trillion by 2050.
VanEck suggests that this surge in the asset's price will result from increased adoption across the globe. It foresees that BTC will be used to settle 5% of the world's domestic trade and 10% of cross-national trade. This would ultimately result in central banks storing 2.5% of their assets in BTC, noted VanEck analysts.
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