Cryptocurrency

Exec says it’s bigger than you think

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According to Jesse Myers, the head of Bitcoin strategy at Moon Inc., the company may end up owning half of all Bitcoins in 2045. That’s about 10.5 million coins. He spoke on the X-Thread on May 23. His predictions sparked debate about the fact that cryptocurrency companies will really be formed. Some people worry that math is crazy. Others believe this indicates a larger shift in the way capital moves.

Companies Bitcoin Hosts Are Rising

According to the report, the company and ETF now control about 3.23 million BTC. That’s about 15% of the 21 million supply. At today’s price, that storage store is worth about $348.25 billion. Myers said the Bitcoin Treasury Corporation will increase that to 50%. He believes half of the coins will sit in the company’s wallet, rather than retailers or government vaults.

Ambitious bets for strategy

According to documents tracked by Saylor Tracker, the strategy holds 576,320 BTC. The storage is currently worth approximately US$62.24 billion. Myers said that if Bitcoin continues to rise, the strategy may see a $700 trillion stake in 2045. To reach this number, each unit needs to be traded for over $120 million – an increase of more than 1,000 times from today. It was a huge climb in just twenty years.

Global Asset Library

Myers pointed out that there are about $100 trillion in assets worldwide. Bitcoin accounts for only 0.2% of the total, he said. He also noted that over time, bonds may flow into digital currencies. If even a bond pile would look for “hard money” storage of value, Myers believes that this would increase demand for BTC.

BTC is now trading at $108,938. Chart: TradingView

New players joined

On April 24, Strike founder Jack Mallers launched 21 capitals. The new Bitcoin U.S. Treasury has support from Tether, Softbank and Cantor Fitzgerald. Its goal is to provide investors with a “capital efficiency” way to obtain Bitcoin risk. Even so, companies like this need to find a large amount of cash bin and move carefully in the market that aren’t always deep enough to buy.

Myers’ point of view raises a lot of problems. Will bond managers really transfer most of their funds to Bitcoin? Can companies add millions of coins without sending prices through roofs? How will regulator rules shape this kind of corporate buying frenzy?

We will watch new SEC documents, fund flow reports, and any signals regarding digital asset rules. These clues will tell us whether Miles has vision or just dream big.

Featured images from Pixabay, charts for TradingView

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