Since Bitcoin has been moving towards new all-time highs, even since the halving, there have always been those who have gone high on it. At the moment, while the rise in recent months seems to have stalled near 60K, it is interesting to see that there are people sure that it is only a pause. One of these people is Perianne Boring, founder and president of the Chamber of Digital Commerce, who assures that Bitcoin can reach 100K and more by 2021.
In 2014, he founded the Chamber of Digital Commerce, a non-profit trade association with more than 200 members, including Accenture, Cisco, Microsoft, IBM, Fidelity, Wells Fargo, Digital Asset, Bitpay, and TrustToken. Through the Chamber, Boring has launched multiple national and global initiatives that promote best practices, real-world applications, and regulatory interoperability.
Boring expressed in an interview with CNBC that Bitcoin could be priced between $ 100,000 and $ 280,000 this year. The source of its certainty is the Stock to Flow model.
Why could Bitcoin surge to $ 100K and beyond?
«Stock to Flow says that Bitcoin should be priced between $ 100,000 and $ 288,000 this year … Stock to Flow also says that one Bitcoin will be worth the same as 10,000 ounces of gold in 2029. That’s what people mean when they say that Bitcoin is eating the goldBoring explained.
Stock to Flow is defined as a relationship between production and the stock that currently exists. That is, it is the number that we obtain when we divide the total existence (stock) by the annual production (flow). In other words, Bitcoin Stock to Flow is a measure of scarcity. It is based on models typically used to value precious metals.
He also stated that according to the Digital Chamber of Commerce, BTC should be worth $ 72,000 right now. Finally, he mentioned that Bitcoin has been gaining credibility after it reached a market capitalization that exceeded two trillion dollars.
Perianne Boring’s claims may sound a bit bold, perhaps hasty. But again, in this particular market volatility can always make the unthinkable happen. However, it does not appear that their estimates will occur in the short term. At least from a technical point of view, with other indicators and models that are not Stock to Flow.