Bitcoin must reach $ 213,000 to "replace the US money supply" :

Bitcoin must reach $ 213,000 to "replace the US money supply"

A recent report by Union Bank of Switzerland (UBS) suggests that the price of Bitcoin will have to be around $ 213,000 to take the place of fiat money in the United States.

As reported by Bloomberg, the UBS investment bank based in Zurich, Switzerland conducted a study on Bitcoin. She wrote that the currency could not be considered as money or even as a viable asset class.

"Our results suggest that Bitcoin, in its current form, is too volatile and limited to become a viable means of payment for global transactions or a mainstream asset class."

In its report, UBS states that cryptocurrencies could potentially become an alternative asset class but that their prices will remain volatile.

In addition, the study indicates that if the currency number 1 of the cryptocurrency ranking wants to become an efficient mode of payment, it must be improved in particular in the processing of transactions.

Recently, the famous American economist Paul Krugman declared that Bitcoin had no real utility or a great future.

However, other experts are more optimistic about the future of Bitcoin. Last March, Twitter CEO Jack Dorsey said that "Bitcoin was probably the future currency, but it will have to be left for several more years."