Noted Bitcoin maximalist Fred Krueger has made a bold prediction regarding Bitcoin's future dominance over the US Dollar (USD). In a recent statement, Krueger stated that BTC will outperform the US dollar by a factor of 100 in the next 12 years. Additionally, he highlighted the stark contrast between BTC’s monetary policy and the US deficit.
Bitcoin Maxi explains the meaning of the halving
Additionally, Krueger highlighted the post-halving scenario, where the new supply of Bitcoin will be just 0.8% per year. He calls it a “protection fee” for ensuring network security. In stark contrast, he pointed out that the U.S.'s staggering $1.6 trillion deficit represents a significant 4.7% of total debt.
Additionally, he pointed to additional inflationary pressures from medical care and Social Security, which could potentially lead to a 10% annual increase in dollar supply. This implies that the supply of dollars would grow exponentially and would lose value over time due to lack of scarcity.
“Bitcoin is already ten times more efficient than the dollar,” Krueger claimed. Furthermore, he predicted a future in which BTC's efficiency would increase to 100 times that of the dollar within 12 years. He predicts a huge increase in demand for Bitcoin, citing the fixed supply coupled with an expected 100-fold increase in demand over the next two decades.
Additionally, Krueger's analysis looked at BTC's current user base and estimated that it represents just 0.1% of the world's population, totaling around 10 million users. He outlined a roadmap for the introduction. The Bitcoin Maxi stated that reaching 400 million users would mark a crucial milestone where 5% of the world's population would accept Bitcoin.
If the goal is achieved, Bitcoin holders would achieve great success over people who accept dollars. Therefore, it suggests a 40-fold increase in adoption. This highlights the need for a significant increase in Bitcoin adoption to achieve widespread adoption and usage.
Also read: Costa Rica resumes debate on allowing Bitcoin as a means of payment for everyday use
BTC price is recovering
Bitcoin price had previously plunged over 11% from its all-time high of $73,750 in March. At press time, BTC price recovered by 1.73% to $67,648.67 on Saturday, April 6. At the same time, the cryptocurrency had a market valuation of $1.33 billion.
However, the 24-hour trading volume for BTC fell by 34.88% to $25.64 billion. The recovery in BTC value is evident after hitting a low of $65,000 amid the crash following the recent rally. On the contrary, Bitcoin's 1-month gains are just over 3%, indicating sluggish performance.
On the other hand, analysts have ruled out the possibility of an all-time high before the Bitcoin halving this month. Michaël van de Poppe, a crypto analyst, noted that a new all-time high is not possible if Bitcoin cannot break through the $70,300 mark. Instead, it could fall below $58,000.
Also Read: MicroStrategy (MSTR) Stock Jumps 25%, Rebound Soon After Bitcoin Halving?
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