Bitcoin News Alerts | Daily BTC Macro Signal

Bitcoin, the world's most-valued cryptocurrency, has the potential to be a significant energy consumer in the future, but only if it reaches several million dollars per coin, according to new estimates by Arcane Research.

Crypto research and analytics firm Arcane Research on Monday released a report estimating the development in Bitcoin's energy usage toward 2040.

If the BTC price hits $2 million in 17 years, Bitcoin may consume 894 Terawatt-hours (TWh) per year, surging 10 times from today's level, the report suggests. Despite huge growth, such energy consumption would only account for 0.36% of the estimated global energy consumption in 2040, increasing from Bitcoin's 0.05% share today, the analyst estimated.

Learn more about your ad choices. Visit megaphone.fm/adchoices

Former Goldman Sachs executive Raoul Pal says an explosion of the crypto market cap by 200x in the next decade is within the realm of possibility, with a potential Bitcoin target price of $2,100,000 per BTC.

"What I do know is if I just extrapolate the network adoption effects, the number of users, and where the number of users is going and assume it gets to somewhere between four and five billion in the next 10 years or so – which would be central bank digital currencies enabling it, all ticketing, a whole bunch of stuff going that way – the market cap of the space goes from $1 trillion to $200 trillion…

People don't realize the world has never seen an accumulation of wealth like that in history. This would be the shortest period of time of the largest accumulation of wealth ever seen."

Learn more about your ad choices. Visit megaphone.fm/adchoices

According to Crypto exchange Changelly, Bitcoin might peak at around $937k in 2030, with the king cryptocurrency trading at an average price of $798k per BTC.

Bitcoin searches on Google being 7x and 42x higher than the no. of searches for USD and Euro, respectively, is evidence of the same. In fact, according to studies, there has historically been a 91% correlation between BTC prices and Google search volumes.

Learn more about your ad choices. Visit megaphone.fm/adchoices

The chief investment officer of crypto asset manager Bitwise Investments is unveiling his massive price target for Bitcoin despite the ongoing bear market.

In a new Stansberry Research interview, Bitwise executive Matt Hougan says that Bitcoin could rally by over 2,273% from its current price of $21,062 as he believes BTC will come close to gold's market capitalization of more than $11 trillion.

"I think it's perfectly rational to believe that Bitcoin could trade to half a million dollars over time. The way I picked that number out of the hat is if Bitcoin held as much wealth as is held in gold, it would be about half a million dollars a Bitcoin."

Learn more about your ad choices. Visit megaphone.fm/adchoices

Kraken crypto exchange CEO Jesse Powell says he would NEVER bet against Bitcoin and is still hopeful of a $2 million dollar BTC price by the end of 2022.

"I'm still hopeful that I'll be able to buy a Bugatti by the end of the year for one Bitcoin.

I bought in bitcoin again at $18,000, I'm happy to ride it back up," Kraken CEO Jesse Powell told Bloomberg in an interview this week, adding he's "still bullish on the long run" due to bitcoin's "fundamentals" continuing to improve. "I'd never bet against bitcoin."

Learn more about your ad choices. Visit megaphone.fm/adchoices

The chief executive of crypto exchange Kraken says that he's still very bullish on Bitcoin and that its improving fundamentals make it hard to bet against BTC.

In a new interview with Bloomberg Markets and Finance, Kraken CEO Jesse Powell says that he bought more Bitcoin when it was around $18,000, and hopes it will continue to climb even higher.

"I wasn't expecting all this craziness in the macro environment, however, I'm still hopeful that I'll be able to buy a Bugatti by the end of the year for one Bitcoin…

I'm still very bullish, I bought Bitcoin again at $18,000, so I'm happy to ride it all the way back up. I'm still very bullish in the long run, [its] fundamentals keep improving, so I would never bet against Bitcoin."

Learn more about your ad choices. Visit megaphone.fm/adchoices

Mark Yusko is the billionaire investor and Founder of Morgan Creek Capital. His prediction for Bitcoin is that it'll be worth over $400,000 in the long term, a statement that made headlines in crypto because for its grandiose scale.

"It's just math. It is gold equivalent…there are about 20 million BTC available today. Gold today is about $8 trillion. That gives you $400,000. And that doesn't include use cases that relate to currency," Yusko said.

He also pointed out that the leading cryptocurrency is striking fear into the hearts of bankers, precisely because Bitcoin eliminates the need for banks. When transactions are verified on a Blockchain, banks become obsolete.

Learn more about your ad choices. Visit megaphone.fm/adchoices

Former White House communications director and SkyBridge Capital CEO Anthony Scaramucci believes that Bitcoin has solid fundamentals that will drive massive demand in the future sending the BTC price to $300,000 per coin.

In a recent interview with CNBC, the CEO explained how the company was looking toward the future of Bitcoin. According to Scaramucci, Skybridge Capital expects the price of bitcoin to grow as high as $300,000 in the next six years. Going by this prediction, they are expecting the digital asset to be trading this high by 2028.

Learn more about your ad choices. Visit megaphone.fm/adchoices

Crypto exchange Coinbase says that the Bitcoin Lightning Network has the potential to disrupt the massive $150 billion payments industry.

Lightning Network is a layer-2 scaling solution built on top of Bitcoin that aims to enable instant and cost-effective transactions for BTC.

"Humble beginnings aside, the potential to turn crypto's most valuable asset into a true medium of exchange has the power to bring greater financial inclusion to anyone with a smartphone. The ability to cost-effectively route fiat transactions over Lightning rails without users ever knowing they're using Bitcoin can disrupt $150B+ a year industries.

What Visa/Mastercard is for fiat currencies, Lightning can be for Bitcoin. The combination of a universally accessible payment network atop the world's first open-source protocol for money can help Bitcoin evolve into a true global reserve currency."

Learn more about your ad choices. Visit megaphone.fm/adchoices

SkyBridge Capital founder Anthony Scaramucci tells crypto investors to avoid knee-jerk reactions as he predicts a huge price tag for Bitcoin of $300,000 per BTC.

He went on to express his bullishness on the cryptocurrency market by stating that the "future" is coming sooner than he thought and Bitcoin will reach $300,000 within a few years.

"I tell people, 'Just relax. See through this.' We see a pretty optimistic scenario for Bitcoin, Ethereum, Solana and Algorand over the next 12 to 24 months."

Learn more about your ad choices. Visit megaphone.fm/adchoices