EMJ Capital CEO Eric Jackson has projected the BTC price could reach $50 million per coin by 2041, based on a long-term collateral thesis. Jackson shared the forecast in an interview with financial journalist Phil Rosen, where he argued Bitcoin may evolve into “neutral global collateral.”
Bitcoin as Neutral Global Collateral Could Redefine BTC Price
In the interview, Jackson said Bitcoin’s long-term value may extend beyond the “digital gold” label and into financial infrastructure. Notably, he argued Bitcoin could serve as a base collateral layer that supports sovereign balance sheets and global liquidity.
He described this as Bitcoin becoming a neutral asset that is beneath existing systems, rather than replacing them. However, Jackson stressed that the concept depends on Bitcoin’s ability to function as an apolitical reserve asset.
To frame the idea, he referenced how gold once played a similar foundational role in global finance. He also noted that central banks and governments continue to hold gold as a reserve asset.
Jackson said Bitcoin shares key features with gold, including scarcity and independence from political control. However, he argued that Bitcoin differs because it is digital and programmable, which could offer structural advantages.
Still, he acknowledged that Bitcoin has not become widely used for everyday payments. He referenced the early 2011 Bitcoin pizza purchase as a rare example of transactional use.
How Bitcoin Could Reach $50M by 2041
Jackson tied his $50 million Bitcoin value forecast to what he calls “Vision 2041,” built around the scale of sovereign debt markets. He said global finance has changed through different collateral systems over time, and he believes the next shift could involve Bitcoin.
He traced a historical transition from gold-backed systems to offshore dollar markets that expanded in the 1960s. According to Jackson, the Eurodollar system influenced global liquidity and helped form today’s debt-based structure.
He said sovereign debt now acts as a core form of collateral that governments borrow against for funding. However, Jackson argued that this framework carries vulnerabilities, which could create room for an alternative reserve layer and boost the BTC price.
Jackson said Bitcoin could eventually replace the Eurodollar as the neutral collateral asset supporting global borrowing. He described Bitcoin as “much superior” collateral because it is digital and sits outside central bank control.
He also argued that Bitcoin’s independence from political leadership, including U.S. Treasury officials, strengthens its appeal as a neutral base layer. However, he emphasized this shift would not directly remove the dollar or U.S. Treasuries.
From Carvana’s Collapse to a Long Bitcoin Thesis
To explain his approach, Jackson compared Bitcoin to past contrarian equity bets. Notably, he referenced Carvana, which dropped from around $400 to roughly $3.50 in 2022. Jackson said he invested during that decline because he believed the platform still worked despite market panic.
He said customers continued to value the service, and he expected profitability improvements and debt restructuring. He argued that extreme pessimism often distorts asset pricing, which shaped how he views Bitcoin’s polarized outlook.
Jackson said critics label Bitcoin a Ponzi scheme due to some supporters promoting targets without clear grounding. At the time of writing, the BTC price was trading at $67,374, down 2.40% over the past 24 hours.