Renowned Bitcoin maximalist Fred Krueger has made a bold prediction regarding the future dominance of Bitcoin over the US dollar (USD). In a recent statement, Krueger stated that BTC is set to outpace the US dollar by 100x in the next 12 years. Moreover, he highlighted the stark contrast between the monetary policies governing BTC and the US deficit.

Bitcoin Maxi Explains Importance Of Halving

In addition, Krueger emphasized the post-Halving scenario where Bitcoin’s new supply will amount to a mere 0.8% per year. He terms it as a “nominal fee” for ensuring network security. In stark contrast, he pointed out that the staggering $1.6 trillion US deficit represents a significant 4.7% of the total debt.

Moreover, he spotlighted the additional inflationary pressures from medicare and social security, potentially easing to a 10% increase in dollar supply annually. This implies that the dollar supply is growing exponentially and would lose value overtime due to lack of scarcity.

“Bitcoin is already 10x more efficient than the dollar,” Krueger asserted. Furthermore, he projected a future where BTC’s efficiency would skyrocket to 100 times that of the dollar within 12 years. He foresees a monumental surge in demand for Bitcoin, citing its fixed supply coupled with an anticipated 100x increase in demand over the next two decades.

Furthermore, Krueger’s analysis delved into the current user base of BTC, estimating it to be a mere 0.1% of the global population, totaling approximately 10 million users. He outlined a roadmap for adoption. The Bitcoin maxi stated that reaching 400 million users would signify a critical milestone, where 5% of the world’s population would accept Bitcoin.

If the target is met, Bitcoin holders would attain a major feat against individuals accepting dollars. Hence, he hints at a 40x surge in adoption. This underlines the imperative for a significant surge in Bitcoin adoption to achieve widespread acceptance and utilization.

Also Read: Costa Rica Resumes Debate On Allowing Bitcoin As Money For Daily Use

BTC Price Rebounds

The Bitcoin price had earlier slumped over 11% from its all-time high of $73,750 in March. At press time, the BTC price rebounded by 1.73% to $67,648.67 on Saturday, April 6. Whilst, the crypto boasted a market valuation of $1.33 billion.

However, the 24-hour trade volume for BTC plunged 34.88% to $25.64 billion. The recovery in BTC’s value can be seen after it hit a low of $65,000 amid the crash after the recent rally. On the contrary, Bitcoin’s 1-month gains stand at a little over 3%, suggesting a sluggish performance.

On the other hand, analysts have ruled out the possibility of an all-time high before the Bitcoin Halving event this month. Michaël van de Poppe, a crypto analyst, noted that if Bitcoin fails to break the $70,300 level, a new all-time high wouldn’t be possible. Instead, it could slump below $58,000.

Also Read: MicroStrategy (MSTR) Share Tanks 25%, Recovery Soon after Bitcoin Halving?

The post Bitcoin Maxi Reveals Why BTC Will Outperform USD By 100x appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am