American investment firm VanEck believes that Bitcoin (BTC) has double the upside of gold and could be worth as much as $4.8 million per coin if it becomes the global reserve asset.

VanEck’s analysis found that the implied price for the king cryptocurrency ranged from $1.3 million to $4.8 million. The lower prediction was based on BTC as a monetary base (M0), which investment database Investopedia says includes all circulating supply of a currency and bank deposits but is not a common marker for economists to look at.

Learn more about your ad choices. Visit megaphone.fm/adchoices