IBM’s head of blockchain solutions says he expects the price of Bitcoin to reach $1 million.
In an interview with Finder.com, Jesse Lund said he expects Bitcoin will rebound by the end of the year.
“I think it’s going to be higher. I’ll go with $5,000.”
And in the long run, Lund predicts the price of BTC will skyrocket to seven figures.
“I have a long-term outlook. I’ve actually blogged about this a little bit. It goes back to that discussion about the utility of the network with a higher price. So, I see Bitcoin at a million dollars someday.”
In addition, Lund says IBM’s cross-border payment network, Blockchain World Wire, will support multiple cryptocurrencies.
“It could be Ripple, it could be XRP even. It could be Bitcoin. But it would also probably include other instruments, like stablecoins, and even eventually soon, hopefully, central bank-issued digital currencies.”
According to Lund, a number of banks have already signed letters of intent to join the platform.
“We’re going to be supporting more than 50 countries out of the gate, 30 to 40 currencies, and enough market makers to drag along 30 or 40 banks. So we’ll have a significant portion of the world covered…
We’ve got letters of intent with several banks around the world to support and issue digital currencies, stablecoins and other currencies. Our goal is to continue to expand that network and to provide global coverage within three to five years where you can actually send remittances in a consistent way, immediately, at a very low cost, from anywhere in the world to anywhere in the world.”
Image via Patrick/Flickr