The vice president of blockchain and digital currency IBM, Jesse Lund, said he expects the price of Bitcoin (BTC) reach one million dollars. Lund made his prediction during an interview with the comparison and news platform Finder.com, published on YouTube on February 20.
Towards the end of the interview, Lund was asked what he expected the Bitcoin price to be on the eve of this new year. He replied that he believes that it will be higher than the current price, clarifying: "I will go with USD 5,000". Then he continued his prediction, adding:
"I see Bitcoin in a million dollars someday."
Keep reading: Hyundai Commercial partners with IBM to accelerate blockchain development
Lund explained that "he likes that number", given that "if Bitcoin is in a million dollars, then the satoshi is at par value with the US cent." He pointed out that at that value, the entire network would have more than USD 20 trillion of liquidity. Next, he suggested that such liquidity could change corporate payments and high-value payments in general, concluding:
"I see USD 5,000 at the end of the year, but I see a higher upward trajectory."
During the interview, Lund also talked about IBM's collaboration with Stellar (XLM) and the use of the network's native asset in IBM's cross-border payment network, Blockchain World Wire (BWW). As previously reported, IBM uses XLM in BWW as an intermediate currency and to pay transaction fees.
Lund also revealed that the firm is considering working with other digital assets, explaining that they believe "there should be an ecosystem of, a variety of digital assets that provide settlement tools that allow these cross-border payments, and that network participants should be able to choose and negotiate your options in real time. " Lund went to the state:
"It could be Ripple, it could even be XRP, it could be Bitcoin, but it would probably also include other instruments, such as stable currencies, and even, eventually, digital currencies issued by the central bank."
You may be interested: Santander signs a USD 700 million agreement to use IBM technology, including blockchain
Lund made a point of differentiation between the IBM payment network and RippleNet from Ripple, noting that the technology giant does not depend on its own customized token.
The second largest bank in Oman by market value, BankDhofar, became the newest member of RippleNet, joining to allow cross-border payments to India, as Cointelegraph recently reported.
IBM brought its BWW payment network to beta in September 2018, after closing a partnership with Stellar in October 2017.
About a week ago, the main Canadian crypto exchange Coinsquare showed interest in the block chain through the acquisition of StellarX, a decentralized exchange based on Stellar.
Do not stop reading: IBM launches blockchain platform to run its cloud services in Melbourne