Prominent asset manager VanEck suggested that Bitcoin price could reach a high of $2.9 million and it market cap could reach $61 trillion by the year 2050.

Along with its role as a hedge, BTC is expected to record this surge because of its growing global usage. VanEck’s analysts suggested that 10% of international trade and 5% of local trade are expected to be settled with Bitcoin. This would eventually push central banks to hold 2.5% of their assets in Bitcoin.