Wedbush Report Anticipates Significant Increases in Bitcoin Value

CoinDesk reports that the price of bitcoin may rise to $400 over the next year. According to a new report by Wedbush Securities, bitcoin transactions are increasing. The report predicts that shares for the first publicly traded bitcoin fund, Bitcoin Investment Trust (OTC:GBTC), will increase from its current valuation of $30.60 to $40 by next year.
As quoted in the article:

Wedbush indicated it sees bitcoin demand stemming from its increasing use in e-commerce payments, remittances and micropayments due to its ability to reduce costs in these industries. For instance, the report estimates bitcoin can lower online payments fees from 3-8% to less than 0.5%, while it can cut the cost of remittances from 5-10% to less than 1%.
Secondary to these industries, the report predicts, will be bitcoin’s growth as a “banking alternative” in times of economic crisis, its applications for machine-to-machine transactions and applications of the blockchain as a distributed ledger.

Click here to read the full article on CoinDesk.