Bold speculation! Capital Management Giant VanEck: If Bitcoin Becomes a Global Reserve Asset, Price Could Be as High as $4.8 Million

Capital management giant VanEck said bitcoin could cost as much as $4.8 million each if it becomes a global reserve asset, according to media reports Thursday.

Eric Fine, VanEck's head of emerging market debt, and Natalia Gurushina, chief economist, said in a March 30 report that the implied price of bitcoin is between $1.3 million and $4.8 million.

The lower of these prices is predicted based on Bitcoin as M0, while the highest is predicted based on Bitcoin as M2.

M0 refers to the sum of cash on hand in various establishments outside the banking system and cash in the hands of residents, while M2 refers to cash circulating outside the banking system plus corporate deposits, residential savings deposits and other deposits, including all forms of money that may become real purchasing power.

And in their assessment of the price of gold, Eric Fine and Natalia Gurushina believe that as M0, the price of gold should be at $31,000, while as M2, it should be as high as $105,000.

It is worth noting that Russia is considering accepting bitcoin as a payment method for its oil and gas exports as the West increases sanctions.