Renowned Bitcoin maximalist Fred Krueger has made a bold prediction about Bitcoin's future dominance over the US dollar (USD). Krueger said in his recent statement that BTC will outperform the US dollar by 100 times over the next 12 years. Furthermore, he highlighted the stark contrast between the monetary policy governing BTC and the US budget deficit.
Bitcoin Maxi explains the importance of halving
Additionally, Krueger highlighted a post-halving scenario in which new supply of Bitcoin would be only 0.8% per year. He calls this a “small fee” to ensure the security of the network. In stark contrast, he pointed out that the US's staggering $1.6 trillion deficit represents 4.7% of total debt.
He also highlighted further inflationary pressures from health care and social security, which could ease until dollar supply increases by 10% annually. This means that the supply of dollars is increasing exponentially and will lose value over time due to lack of scarcity.
“Bitcoin is already 10 times more efficient than the dollar,” Krueger asserted. He also predicted a future in which BTC's efficiency will soar to 100 times that of the dollar within 12 years. He predicts that demand for Bitcoin will skyrocket significantly, with the supply of Bitcoin being fixed and demand expected to increase 100 times over the next 20 years.
Additionally, Krueger's analysis took a closer look at BTC's current user base, estimating that BTC is only 0.1% of the world's population, or approximately 10 million total users. He outlined the roadmap for implementation. The maximum value of Bitcoin is stated that if the number of users reaches 400 million, it will mean an important milestone when 5% of the world's population accepts Bitcoin.
If this goal is achieved, Bitcoin holders will accomplish a major feat for individuals receiving dollars. Therefore, he suggests that adoption will skyrocket 40 times more than he did. This highlights that it is essential that Bitcoin adoption increases significantly in order to achieve widespread acceptance and usage.
Also read: Costa Rica resumes discussion on accepting Bitcoin as currency for everyday use
BTC price rebound
Bitcoin prices have so far fallen more than 11% from their all-time high of $73,750 in March. At the time of writing, BTC price rebounded 1.73% to $67,648.67 on Saturday, April 6th. Meanwhile, the market valuation of virtual currencies was $1.33 billion.
However, BTC's 24-hour trading volume decreased by 34.88% to $25.64 billion. After hitting a low of $65,000 during the crash following the recent rally, we are seeing a recovery in BTC's value. In contrast, Bitcoin's one-month gain is just over 3%, suggesting weak performance.
Meanwhile, analysts are ruling out the possibility of Bitcoin hitting a new all-time high before this month's halving event. Cryptocurrency analyst Michael van de Poppe said that unless Bitcoin breaks through the $70,300 level, it will be impossible to hit a new all-time high. In fact, it could even fall below $58,000.
Also Read: MicroStrategy (MSTR) Share Tank 25%, Will It Recover Immediately After Bitcoin Halving?
