IBM’s Departing Blockchain Chief Still Stands by Bitcoin Million-Dollar Prediction

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IBM head of blockchain Jesse Lund has gone in an unexpected move but he says he’s still backing blockchain as a payment platform.

Lund is noted for his prediction that Bitcoin will rocket over time to hit the USD 1 million mark, and appears to be backing that earlier enthusiasm having said that “I like that number because if Bitcoin’s at a million dollars, then the Satoshi is on value parity with the US penny”.

On his departure, which has left some analysts scratching their heads, he commented, “Yes, I’ve left IBM but am still optimistic about payments innovation using blockchain“. Lund, who jumped from Wells Fargo in 2018, was the man responsible for helping to create the IBM World Wire platform in partnership with Stellar, which has gain support from many major banks.

Lund has been very vocal on revolutionizing payment systems over the years and it appears that he hasn’t jumped ship to join another major blockchain giant. His recent remarks about other companies looking to disrupt the space were complimentary towards other players:

“Great to see more major players piling on this use case as we approach the tipping point of transforming global financial services. What’s next is an extended solution to bring open fungibility of liquidity and FX across major banking institutions… I wonder if any other big players are working toward that(?!)!”

His “USD 1 million in our lifetime” prediction assumes that DLTs, if not dominate, certainly represent, a major portion of the world’s wealth; a situation which at present is a long way off. He has, to date, expressed no desire to change the prediction for Bitcoin’s future fortunes, and remains at a long term outlook.

 

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