Dec 01, · Bitcoin is gold and hence, it will soon disrupt gold, Tyler told CNBC in a recent interview. For this to happen, Bitcoin needs to have a market cap of $9 trillion and its price should hit. Sep 09, · Back isn’t the only one eyeing a lofty $50, price target for Bitcoin. A model from prominent Twitter statistician PlanB, a pseudonymous quantitative analyst that hails from traditional markets, shows that BTC’s fair market capitalization will swell to $1 trillion after the May block reward reduction. Such an increase would see the market capitalization for BTC topping $5 trillion and bring Bitcoin into the same value class as assets like gold. Bitcoin is the only $95 billion market cap asset I have ever seen that has a realistic chance of a x increase in value over a .
Bitcoin trillion market capBitcoin's 'Next Big Resistance' Is at $1 Trillion Market Cap, Says Bloomberg Analyst | Cryptoglobe
Not everyone, apparently, believes that bitcoin is going to reach such a high market cap. He states:. In fact, a cool down is to be expected. Alex Mashinsky — chief executive of the Celsius Network — believes this bull run is different from the one that occurred in While the one from three years ago was pushed largely by retailers, this time, institutional players are the ones behind the BTC surge, which is likely to ensure the price remains strong.
As many as million people own crypto assets today, according to Hileman. He noticed a lot of the recent price action was driven by institutional investors, based on transactions that occur on the chain, and is unlike the retail investor frenzy of On-chain demand and other metrics suggest that the rally was driven more by institutional hedge funds, family offices, and money managers.
Hileman expects to see continued buy-in from retail and Wall Street investors going forward, rather than corporates. That's because it is harder for bigger players to participate than professional investors who already have accounts and easy access to major exchanges, he explained.
As for the US dollar, the researcher expects the world's most popular reserve currency to be digitized sometime in the next five years. The status quo is working well for the dollar because it is dominant through the SWIFT mechanism and the corresponding banking system, he said.
The US government can also raise debt at attractive interest rates, supporting the dollar's status. But a competitive challenge lies in the crypto space and in the rise of stablecoins. Shalini Nagarajan.