$BTC Experts from the investment management firm VanEck explained the factors that could cause Bitcoin to rise in price to $2.9 million by 2050. The relevant material is posted on the company's website, authored by VanEck's Head of Digital Assets Research Matthew Sigel and Senior Digital Asset Investment Analyst Patrick Bush.

The experts' analysis shows that Bitcoin functions as a reserve asset with a basic average annual growth rate of 15%. The assessment involves modeling Bitcoin's penetration into two specific target markets: the global medium of exchange market and central bank reserve assets. The experts forecast that by 2050, Bitcoin will be used for settlements in 5-10% of global international trade and in 5% of domestic trade. Additionally, as trust in G7 sovereign debt declines, analysts suggest that central banks will allocate capital to Bitcoin as a safeguard.

"Our baseline model assumes that by 2050, Bitcoin will reach a value of $2.9 million, driven by its use as a settlement currency for 5-10% of global trade and as a reserve asset accounting for 2.5% of central bank balances," the company's experts write.