Reuter published a list of five projections for 2021 for the world socio-economic scenario and at the same time Scott Galloway, professor at the Stern School of Business at New York University and partner of Section4, who is known, among other things, for his normally accurate forecasts for 2021: Bitcoin at $ 50,000.
Every year Scott makes predictions for the following year. Last year he reached 8 and failed 4. His list for 2021 is as follows:
– For competitive reasons, Facebook shares will increase and Amazon will part with AWS.
– Airbnb will be bigger than the top 5 hotel chains and reach $ 200 per share
– Apple acquires Peloton (Peloton is an American media and fitness equipment company founded in 2012 and launched in 2013 with a Kickstarter funding campaign.)
– Shopify or Zoom make large purchases
– Roblox will triple its value
– Investments in Edtech are highlighted
– Walmart will enter the healthcare sector by force through acquisitions
– Amazon Raises $ 100 Billion From Top Ten US Healthcare Companies.
– Robinhood will be the new villain of the tech sector (Robinhood is a financial education platform that has grown to include multiple financial services).
– Bitcoin will reach $ 50,000
– Disney will increase by 30%
In 2020, Bitcoin (BTC) impressed investors with a cumulative return of over 200%Despite that number, four stocks outperformed the largest cryptocurrency, including that of another company included in Galloway’s forecast, Peloton (PTON), which outperformed BTC with an annual return of 384%. However, the company that offers online fitness classes has capitalization of just $ 42.4 billion, well below its net worth.
BTC / USD against TSLA, ZM, PTON, MRNA, ENPH. Source: trade view
Bitcoin at $ 50,000
According to Galloway, the proponents of Bitcoin believe that the cryptocurrency can restructure global financial and monetary policy.It is a potential hedge against inflation, provides a safer haven for prosperity in unstable economies, and further strengthens its institutional acceptance and infrastructure.
Global currencies have massive value. The global supply of gold is worth more than $ 9 trillion and more than $ 19 trillion is held in US dollars. That value migrates to Bitcoin – investors have traded for gold as Bitcoin performed strongly in its current rally and throughout 2020. Currently, the total supply of Bitcoin is around $ 400 billion.
For Galloway, institutional interest will fuel Bitcoin this year and the $ 50,000 figure will hit sometime in 2021.
The five Reuters forecasts
In addition to Scott Galloway’s predictions, Reuters has also issued predictions, including analysis that may indirectly affect cryptocurrency investors.
- Fall of the hegemony of the dollar
- Emerging market currencies are again attractive to investors
- Central banks need to maintain a looser monetary policy and allow cheap money to flow
- Investments in “green” technology and businesses need to accelerate during the Biden administration, and 2021 will be the wick of that movement
- Technology-based businesses need to be powered by the Biden government, especially electric cars.