The Impossible rise of Bitcoin, It will hit $1 Million. Says IBM’s VP of Blockchain Jesse Lund.

There are many people speculating the rise of Bitcoin. One of them is, Jesse Lund, The vice president of blockchain and digital currencies for IBM, said that he expects Bitcoin’s (BTC) price to eventually hit $1 million. Published on YouTube on Feb. 20, Lund made his prediction during an interview with comparison and news platform

Jesse Lund was asked what he expects the price of Bitcoin to be on this new year’s eve, Towards the end of the interview. He said, he thinks the price will rise and cross the current mark, clarifying, “I’ll go with $5,000.” He then continued his prediction, adding:

“I see Bitcoin at a million dollars someday.”

Jesse Lund further explained that he “likes that number,” given that “if Bitcoin is at a million dollars, then satoshi is on value parity with the U.S. penny.” He then suggested that such liquidity could change corporate payments and high value payments in general, concluding:

“I see maybe $5,000 at the end of the year, but I see a way higher upward trajectory.”

During the interview, Lund also talked about the collaboration they are having with Stellar (XLM) and the use of the network’s native asset in IBM’s cross-border payment network, Blockchain World Wire (BWW). IBM uses XLM in BWW both as to pay transaction fees and an intermediate currency, As previously reported.

Lund also revealed that the firm is considering working with various other digital assets, explaining that they believe “there should be an ecosystem of, a variety of digital assets that provide settlement instruments that enable these cross-border payments, and the participants in the network should be able to choose and negotiate their choices in real-time.” He further stressed:

“It could be Ripple, it could be XRP even, it could be Bitcoin, but it would also probably include other instruments, like stabecoins, and even eventually soon – hopefully – central bank-issued digital currencies.”

As Cointelegraph recently reported, by market value Oman’s second largest bank, became Ripple Net’s most recent member, joining to enable cross-border payments to India.

After closing a partnership with Stellar in October 2017, IBM brought its BWW payment network out of beta back in September 2018.

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5 most commonly asked questions about Bitcoin

1. What is a Bitcoin?
A Bitcoin is an electronic currency, AKA Cryptocurrency, that lives on the internet. There is no physical “coin” anywhere, just a string of numbers. It’s based on an emerging tech called block-chain, where the transactions are logged in a string of blocks, linked together to make a chain.
According to the Bitcoin website, “Bitcoin is a consensus network that enables a new payment system and a completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen”.
Bitcoin is pretty much like cash for the internet. Bitcoin can also be seen as the most prominent triple entry bookkeeping system in existence, relates users.

2. What is the amount of Bitcoins out there?
There are currently 16.73 million Bitcoins in circulation. There can never be more than 21 million Bitcoins, ever. No actual circulation of these numbers can be seen, however, because some coins have been lost forever from theft and computer/human error. The number of new Bitcoins created per year is automatically halved over time until their creation is halted completely with a total of 21 million.

3. Is Bitcoin the sole Cryptocurrency?
No. There are over a thousand different electronic-based cryptocurrencies. There are 1,910 of them listed. Around which they sum up to $240 billion. There is a lot of money in these markets!

4. How to Buy and sell a Bitcoin?
Bitcoins can be bought and traded on exchanges, kind of like the stock market. Coinbase is one of the more widely known exchanges. Others include itBit and Gemini in the U.S. People are able to buy and sell Bitcoins with multiple currencies.

5. How do you store/save your coins?
The safest way to store your Bitcoins is to use what is called “cold storage.” This is where you store your reserve of Bitcoins offline. It could be on a USB flash drive or paper wallet. Then people can keep them in a safety deposit box or somewhere secure. The key is it’s offline and not connected to the internet, so no risk of being hacked. Some people do save them on their computers or on exchanges. there, hacking is a concern.

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Major Cryptocurrencies on the rise.

Cryptocurrency markets see a go sign after trading sideways at the beginning of the day. Nearly all top 20 coins are viewed to have minor gains.

Bitcoin (BTC) broke the $4,000 threshold, peeking the $4,010 mark. However, the leading Cryptocurrency is trading under $4,000 at around $3,981, having gained just around 1 percent over the last 24 hours with lowest price point of around $3,618.

Ethereum (ETH) is currently trading at a$147.62, rise with 2.5 percent. The altcoin is up around 20 percent from its price point of around $123. ETH is now up slightly over 18 percent month wise.

The third largest digital currency, Ripple (XRP), has gained 1.48 percent and is trading around $0.329 currently. By weekly chart, XRP has rose by 8.10 percent, with loss by 0.3 percent monthly basis. EOS meanwhile has seen upwards gains, up by 34 percent on its weekly chart and 56 percent over the month. Currently EOS is up by 7.76 percent over the past 24 hours and is trading at $3.83.

Binance Coin (BNB) and Tether (USDT) have reported losses over the past day, down 0.24 percent and 0.39 percent respectively. Among the top 20 currencies.

Cryptocurrency Tron (TRX) up by just 1.66 percent on the day and trading at $0.0251 at press time. With a total market capitalization of all 2,074 cryptocurrencies on CoinMarketCap is around $134.8 billion, up from $121.3 billion a week ago.

West Texas Intermediate futures hit a new high for 2019, up 1.5 percent at $56.92 per barrel, while Brent crude futures rose 63 cents, or 1 percent, to $67.08 per barrel, Andy Lipow, president of Lipow Oil Associates in Houston, said that “The oil market is supported by the OPEC and non-OPEC cuts from countries that are determined to see higher prices and supply disruptions.”

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CZ Reveals in Future Binance Wants to Add Ripple’s xRapid as a Partner.

On Feb. 6, revealed in a Periscope live stream by the company’s CEO Changpeng Zhao, A partnership with Ripple is getting considered to use its cross-border payment platform xRapid, by The world’s largest crypto exchange Binance.

Zhao — better known as CZ in the crypto community, Speaking in his first live stream ever, mentioned clearly that Binance is “definitely” looking to partner with Ripple, it’s native currency XRP is currently the largest Altcoin by market cap.

Currently, CZ also confirmed that xRapid is not a priority for the crypto exchange at the moment, also confirming, that there is “nothing going on right now” for the exchange with xRapid, stating:
“We’re focused on launching more features right now, so we are working with a number of other partners. With xRapid, there’s nothing going on right now, but in the future we’ll definitely want to add them as a partner.”

CZ also suggested that the emergence of Bitcoin (BTC) Exchange Traded Funds — a development much-anticipated, doesn’t require for the crypto industry growth, As reported earlier today, during the same live stream.

As more entrepreneurs bring forward real blockchain and crypto applications, the industry will grow more as further mentioned by Binance’s CEO.

Through the Partnership with payment operator Simplex, Binance launched support for credit card Crypto purchases on Jan 31.

According to CoinMarketCap, The coin is trading at $0.292 by press time, with a market capitalization of around $12 billion.

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