I recently found this article written by Business Insider, a little over 3 years old. The article dates back to March 4th, 2017, and it contains the predictions of Jeremy Liew, the first investor in Snapchat and Peter Smith, the CEO and cofounder of Blockchain.com. The claim that they are making is that they believe that Bitcoin will drastically gain momentum and explode to $500,000 by 2030. In the article, their is a clear sum up of their claims and what they expect to happen based on specific factors, and as I read through it, I noticed more and more things that have actually happened just as, or very close to their predicted development.

Basically, they are looking at a few different factors and influencing trends they have deemed most important for the bitcoin price trend. They are looking at the increase of the number of electronic money transfers to foreign countries, the political uncertainty in the UK, US and developing nations, they are looking at the integration of smartphones as a primary tool for executing payments, the growth of the number of Bitcoin users and the number of Bitcoin supply on the market. These are all the positive trends for the Bitcoin price, with the number of people needed to own Bitcoin in order for the price to reach $500,000 being roughly 400 million people. This would mean that at this point, the market cap would be worth 10 trillion and it would be divided among those 20 million bitcoins expecting to be mined by 2030.
Now some would say that these are generous numbers and there are a lot of things that could go wrong in the meantime. This is true. The price of bitcoin at the time of writing of the article in 2017 was $1600. Since then, we had the splitting of bitcoin and the birth of hard forks, we had a "bitcoin bubble". raising the price to $20000 before crashing it down to just a fraction of it, we had sanctions and bans from different countries in the world for the usage of bitcoin, but we also had positive regulations and loosening of the grips and taxes in some countries as well, and more recently, we had Covid-19, the stock market crashing and the world and the economy seemingly going into hibernation.

But seeing the development so far, with the exception of the current crisis, most of everything has been noted and predicted by Jeremy and Peter, and it seems it has gone just as they were expecting it to. Seeing as how the number of estimated bitcoin owners at the moment is around 45 million and climbing, one has to really ask themselves if the prediction is spot on. As more and more people are putting their trust into bitcoin to be the hedge against the collapsing economy, and the halvening approaching, the drastic increase in price predicted to happen 10 years from now, doesn't seem that unexpected or impossible at all.

You can find the Bitcoin price prediction article here: https://www.businessinsider.com/bitcoin-price-could-be-500000-by-2030-first-snapchat-investor-says-2017-3?jwsource=cl

Hope you enjoyed the read.