Bitcoin IRA – a retirement company that allows investors to add crypto like bitcoin and Ethereum to their 401K portfolios – has completed a survey that suggests one in three people believe bitcoin is going to hit the six-figure mark in 2022.
Bitcoin IRA and Its Customers Suggest Bit BTC Money in 2022
Bitcoin has come a long way in the 12 years it’s been around. Starting out as a simple whitepaper topic, bitcoin was first mined in January 2009, and the subject of digital currency and the industry it represents was officially born. Bitcoin was initially designed to serve as the world’s primary payment tool and it would eventually replace checks, fiat currencies, and credit cards.
Sadly, this has been a slow journey considering BTC is one of the most volatile assets out there. As a result, many companies have refused to accept it as a method of payment, and to a degree, we can’t really blame them. With so much risk surrounding profit, bitcoin hasn’t come as far as it was supposed to, though people seem to be warming up to it in new ways – especially over the past two years.
For example, the coronavirus pandemic really caused people to see fiat currency in a whole new light. With governments around the world printing fiat as though it were toilet paper, inflation in countries such as the United States has reached all-time highs, and many people now see bitcoin as something of a hedge tool; something that can keep one’s wealth stable during times of economic strife.
Interestingly, this has helped bitcoin reach new heights, especially over the past 12 months. In 2021, bitcoin hit several new all-time highs, the most recent coming in November. BTC rose to about $68,000 per unit, though at press time, it’s trading for about $21,000 less than that, meaning the currency still has a way to go before it can become solid enough for economic purposes.
Still, many people believe in the power of BTC. Bitcoin IRA recorded that approximately one in three recent survey takers believes BTC will reach a price of $100,000 by the end of 2022. Over 14 percent of these participants also think the currency could go as high as $150,000.
Crypto Has a Whole New Purpose
Chris Kline – COO and co-founder of Bitcoin IRA – says:
Between inflation, a crypto boom, and major advancements in the digital asset world, these are all factors that are forcing people to consider cryptocurrencies as we head into the new year. With key countries, institutions, and organizations across the world adopting digital assets in some form, Americans want to take part in a major shift happening in our economy. Crypto’s resilience and relevance in 2022 will be driven by the runaway spending in Washington and an unstable dollar, as these coins offer an instrument of change to traditional fiat currencies run amok.