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IBM vice president of digital currency and currencies, Jesse Lund, said he expects the price of Bitcoin (BTC) to reach $ 1 million. Lund made his predictions during an interview with the Finder.com comparison and information platform, posted on YouTube Feb. 20.
Towards the end of the interview, Lund was asked about his expectations for the bitcoin price on New Year's Eve. He replied that he thought the price would be higher than the current price, stating: "I'm going with $ 5,000." He then continued his prediction, adding:
"I see Bitcoin at a million dollars a day."
Lund explained that he "likes that figure," since "if Bitcoin is at a million dollars, satoshi is on a par with the US penny." He noted that with such a value, the entire network would have more than $ 20 trillion in liquidity. He then suggested that such liquidity could alter business payments and high value payments in general, concluding as follows:
"I see maybe $ 5,000 at the end of the year, but I see a much higher upward trajectory."
During the interview, Lund also spoke about the collaboration between IBM and Stellar (XLM) and the use of the native network resource in IBM's cross-border network, Blockchain World Wire (BWW). As mentioned before, IBM uses XLM in BWW both as an intermediary currency and to pay a transaction fee.
Lund also revealed that the company plans to work with a variety of other digital badets, explaining that there should be "an ecosystem of, various digital badets offering settlement tools for these cross-border payments, as well as network participants." should be able to choose and negotiate their choices in real time. Lund then said:
"It could be Ripple, it could be even XRP, it could be Bitcoin, but it would probably also include other instruments, such as stablecoins, and possibly even, soon – hopefully – digital currencies issued by the central bank."
Lund was keen to differentiate IBM's payment network from Ripple's Ripple network, noting that the tech giant was not counting on his own custom token.
BankDhofar, the second largest bank in Oman in terms of market value, has become the newest member of RippleNet. She has been appointed to allow cross-border payments to India, as recently reported by Cointelegraph.
IBM put its BWW payment network out of beta in September 2018, after entering into a partnership with Stellar in October 2017.
About a week ago, Coinsquare, a major Canadian cryptographic exchange center, showed interest in blockchain by acquiring StellarX, a decentralized exchange based on Stellar.
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