Crypto Price Prediction: Bitcoin ‘To Overtake’ The Dollar By 2050 And

Soar To $66,000 By The End Of 2021

Bitcoin has struggled over the last few months, falling by more than half from its peak of
around $65,000 set in April.

The bitcoin price is still up significantly from before it began its latest rally in October, a bull
run that sent combined crypto market to a staggering $2.5 trillion before crashing back
(subscribe now to Forbes' CryptoAsset & Blockchain Advisor and discover crypto
blockbusters poised for 1,000% gains).

Now, a panel of cryptocurrency experts has predicted bitcoin will overtake the U.S. dollar as
the dominant form of global finance by the year 2050—putting the bitcoin price at just over
$66,000 by the end of 2021.

"Some countries will leverage bitcoin as their primary currency," said one panelist, Thomson
Reuters technologist and futurist Joseph Raczynski, who said he thinks bitcoin will overtake
the dollar by 2025 with a value of $150,000. "With fixed circulation, ease of transfer, it will
serve them well to move to a 'bankless' model inherent in this ecosystem."

This year, El Salvador has adopted bitcoin as legal tender alongside the U.S. dollar in a
controversial economic experiment. Other Central and South American countries have
indicated they may follow suit in an attempt to escape dependence on the dollar.

However, the bitcoin price is predicted to fall further before finding a floor, with the panel
consensus of $25,000 per bitcoin—down around $8,000 from its current price of around
$32,000.

While 54% of the panel, surveyed by personal finance comparison site Finder, expect bitcoin
to eventually overtake fiat currency—sometimes called "hyperbitcoinisation"—by the year
2050, 44% of panelists, including University of Western Australia associate professor Lee
Smales, don’t expect bitcoin to ever become the dominant form of global finance.

"Ultimately I think bitcoin will lose out to central bank digital currencies—many of which
will be live by the end of the decade," Smales said.

Despite warning the bitcoin price could fall further in the coming months, over the medium
to long-term the panel made an average bitcoin price prediction of $318,000 at the end of
2025.

"We're standing in the midst of the institutionalization of bitcoin," said Arcane Crypto
analyst Vetle Lunde who forecast a $120,000 bitcoin price by the end of 2021 and thinks
bitcoin will be worth $300,000 at the end of 2025 and $500,000 in 2030. "More funds are
joining the space, the first country has adopted bitcoin as legal tender, and we have several
exchange-listed companies now owning bitcoin. I believe this trend will continue onwards."