Perianne Boring: "Bitcoin at $1,000,000"

The CEO and founder of the Chamber of Digital Commerce, Perianne Boring, predicts that bitcoin will surpass one million dollars.

Bitcoin = 1,000,000 within 5 years

In response to a CNBC question about how high bitcoin could go, Perianne Boring was extremely bullish.

“We apply an ‘S-curve’ analysis to predict the long-term adoption of bitcoin. Currently, 40% of American households have already allocated to or own cryptocurrencies in some form or another. We are on track to reach a 90% adoption rate by 2029.

And once we hit that 90% adoption, the price of one bitcoin could reach a million dollars. Because once again, bitcoin has this limited supply which is a key feature of this technology.”

NEW: We're heading towards a 90% adoption rate by 2029 which could drive the #Bitcoin price to $1,000,000 per coin. @PerianneDC pic.twitter.com/DJ8vHD24Ji

— Simply Bitcoin (@SimplyBitcoinTV) December 27, 2023

The journalists then asked her what will happen when governments introduce their own digital currency (CBDC)? Excellent response from Perianne Boring:

“We’ve already seen central banks introduce digital currencies, particularly in China which is a pioneer in this field with the introduction of the digital yuan. We believe it is a surveillance technology that will be used to control entire populations. CBDCs can be incredibly dangerous.

I do not think that bitcoin is necessarily a direct competitor of CBDCs. I also think that bitcoin can coexist with fiat currency, whether it’s a CBDC or not. Bitcoin is widely used as a store of value. That’s a different use case than currency. I do not believe that bitcoin should be viewed as an adversary of the US dollar.”

Michael Saylor shares this view, which we reported in this article:

“Believing that bitcoin will replace fiat currency is a distraction that causes mental dead ends for many. Some think, for instance: ‘Hm, bitcoin is supposed to replace fiat currency. It must do so to retain value. But at the same time, it’s too volatile, it’s not part of the accounting system, it’s taxable on each transaction, so it won’t replace fiat currency and thus I won’t buy it.’”

Let’s conclude by highlighting that Tim Draper echoes Perianne Boring’s optimism. The billionaire predicts a new all-time high of $250,000 by 2024.