Jordan Fried, founder and CEO of Canadian blockchain company Immutable Holdings, said in an interview with Kitco News that he thinks Bitcoin will reach its price target of 1 million once all coins are mined.
Fried stated that Bitcoin is the second version of gold and that one day gold will exceed the market value of about 10 trillion dollars.
After describing Bitcoin as “Gold 2.0”, Immutable CEO Fried stated that it has upside bullish potential and added:
In fact, considering Bitcoin is the next generation gold, Bitcoin will double the market value of gold and reach $20 trillion or more. This means a coin of 1 million dollars if close to 21 million coins are mined.
Fried cites the limited supply of Bitcoin and increased adoption as the reasons for this increase he predicted in Bitcoin.
Stating that the supply in other cryptocurrencies should also be limited in this context, Fried said that the economy of the future is cryptocurrencies and that central banks should stop printing money.
Fried also stated that Bitcoin is a pioneer in increasing internet wealth and that Bitcoin and cryptocurrencies will replace today’s fiat money in the future.