The price of bitcoin as of April 3, 2022 is still able to record an increase even though the price of this cryptocurrency has decreased in trading. Launching data from Coin Market Cap, bitcoin has been in the range of IDR 660 million for the last 2 weeks.
Currently, bitcoin is said to be able to soar up to tens of billions per coin, but there are conditions. This value can be achieved if bitcoin becomes one of the global foreign exchange reserves.
This was revealed by analysts from the investment company from the United States (US) VanEck. He said bitcoin was predicted to reach US$ 4.8 million/coin or around Rp. 69 billion/coin. However, the question is, whether bitcoin will become a global foreign exchange reserve or not.
An analysis conducted by VanEck’s head of active EM debt, Eric Fine and his chief economist, Natalia Gurushina, compared the price implications of gold and bitcoin if both were adopted as the base currency.
The analysis shows bitcoin could be in the $1.3 million to $4.8 million range. According to them, the sanctions imposed on Russia made the view of the currency began to change.
“Sanctions against Russia have reduced demand for major currencies, instead the focus is now back on em