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Vaneck Report Calculates Bitcoin Price Could Tap $4.8M If BTC Becomes The Global Reserve Currency – Economics Bitcoin News


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Vaneck Report Calculates Bitcoin Price Could Tap $4.8M if BTC Becomes the Global Reserve Currency – Economics Bitcoin News #Vaneck #Report #Calculates #Bitcoin #Price #Tap #48M #BTC #Global #Reserve #Currency #Economics #Bitcoin #News Welcome to TmZ Blog, here is the new story we have for you today:

Vaneck Report Calculates Bitcoin Price Could Tap $4.8M if BTC Becomes the Global Reserve Currency

On Thursday, the investment firm Vaneck published a blog post that calculates how much gold or bitcoin would be worth if the two assets became global reserve assets. Vaneck’s report explained that the investment team “attempted to quantify the emergence of new gold or bitcoin-backed currency regimes.” The study’s calculations estimate that gold could reach $31,000 per ounce and bitcoin could potentially hit $1.3 million per coin. If the assets became M2 monetary supplies, then the values of bitcoin and gold could be much higher.

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Vaneck’s Investment Team Calculates ‘Extreme’ Scenarios Where Gold or Bitcoin Obtain Global Reserve Status

Executives from Vaneck’s emerging markets (EM) bond investment team, Eric Fine and Natalia Gurushina, published a report on March 30, 2022, that touches on “extreme scenarios” where gold or bitcoin theoretically become M0 or M2 money supplies. While a monetary base (M0 or narrow money) equates to all the physical currency and coins, M2 measures both cash and checking deposits and broad money as well.

Vaneck’s Insights blog post says “money has changed,” and highlights the recent sanctions against Russia which froze the country’s USD, EUR, and JPY fiat reserves. Fine and Gurushina write that Vaneck’s EM bond investment team thinks the world’s central banks “will act, as will private individual actors.” The team attempts to quantify the emergence of gold and bitcoin-backed regimes and after the calculations, both estimates are quite substantial in terms of price value.

“We built a simple framework to value gold and bitcoin. For gold, we divide global money supply (M0 and M2) by global gold reserves,” the Vaneck EM bond investment team blog post explains. “The money liability is divided by the reserve asset. We used current reserve holdings in troy ounces for gold, and we used the current exchange rate to convert the monetary base liability into U.S. dollars.”

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