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IBM’s VP of Blockchain, Jesse Lund Bullishly Claims That Bitcoin Will Hit $1 Million

Jesse Lund, the vice president of blockchain and digital currencies for IBM make a bullish assertion for Bitcoin’s (BTC). As per Lund, BTC  will eventually hit the price point of $1 million.

While an extremely bullish prediction, Lund seemed confident about it during an interview with comparison and news platform Finder.com. Published on YouTube on Feb. 20, Lund is asked about his thoughts about BTC price towards the end of the video. He started off by assuring that will go way beyond the current price. His initial prediction was:

“I’ll go with $5,000,” He then continued “I see Bitcoin at a million dollars someday.”

The Video 

Lund explains in the video that he “likes that number,” given that “if Bitcoin is at a million dollars, then satoshi is on value parity with the U.S. penny.”

He pointed out that at that value, the whole network would have over $20 trillion of liquidity. The said liquidity could change corporate payments and high-value payments in general, he concluded by saying:

“I see maybe $5,000 at the end of the year, but I see a way higher upward trajectory.”

Lund also discussed IBM’s collaboration with Stellar (XLM) and the use of XLM, the network’s native asset in IBM’s cross-border payment network, Blockchain World Wire (BWW). XLM act both as an intermediate currency and to pay transaction fees in BWW.

He further revealed that the firm is considering working with various other digital assets, elaborating he said:

“There should be an ecosystem of, a variety of digital assets that provide settlement instruments that enable these cross-border payments, and the participants in the network should be able to choose and negotiate their choices in real-time. it could be Ripple, it could be XRP even, it could be Bitcoin, but it would also probably include other instruments, like stablecoins, and even eventually soon — hopefully — central bank-issued digital currencies.”

In saying that Lund insured that he differentiated IBM’s payment network from Ripple’s RippleNet by noting that the former does not rely on their own bespoke token

Read more: Oman’s Second Largest Bank Joins RippleNet Cross-Border Payment Network

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