Bitcoin advocate Max Keiser believes the leading cryptocurrency can hit a market capitalisation of $300 trillion and above in future
Max Keiser, a popular Bitcoin bull, recently predicted that Bitcoin’s market capitalisation may surpass that of Gold at some point, becoming a store of value in the process. He went on to say the crypto has the potential to dethrone the US dollar as the world’s reserve currency.
In his opinion, investors currently have two options. The first is to use fiat currency and benefit from its lack of volatility while expecting a certain loss of purchasing power. The other is to use Bitcoin despite its volatility but make a killing from an assured gain in purchasing power.
Keiser argued that Bitcoin was closing the gap on the two haven metals, Gold and Silver. He claimed that Bitcoin will surpass Silver’s market cap in the coming months and reach halfway Gold’s market cap before the end of the year. The market analyst added that after eclipsing Gold, only the dollar will be standing in the path of the flagship crypto asset.
Even the US dollar, he believes, will “be decimated as Bitcoin dominates”. Keiser foresees the value of the cryptocurrency surging exponentially as soon as it surpasses Gold and begins challenging the world’s reserve currency.
“I guess it’s going a lot higher because it has to replace Gold. It has to replace the US dollar. The total addressable market (TAM) for Bitcoin is $300 trillion. It’s now at $1 trillion. It’s got a 300x path to go from here”, he said.
Bitcoin has carved a name for itself as a suitable hedge against currency debasement so far, earning it monikers like digital Gold and Gold 2.0. Last month, DoubleLine Capital chief executive Jeffrey Gundlach put his weight behind Bitcoin as the better stimulus asset dumping the US dollar and Gold.
Goldman Sachs analysts, however, believe both assets have their roles to play in an investor’s portfolio. Going by this postulation, it is unlikely that one will take the place of another or make the other worthless. While there is no certainty that Keiser’s prediction will come to pass, the exponential growth of the asset remains clear.
Earlier this week, a CaseBitcoin analysis showed that the asset’s 10-year compound annual growth rate was unparalleled in the history of finance. According to the on-chain analytics firm’s findings shared on Twitter, Bitcoin had a CAGR of almost 200% which has never been seen before. To put this into context, Tesla which in itself has an ‘off the charts’ 63.8% CAGR is still nowhere close to Bitcoin.
The post Bitcoin market cap can eclipse $300 trillion: Max Keiser appeared first on Coin Journal.
Seize the market opportunities!
Start trading with a reliable broker.
Let an expert help you get started!
Seize the market opportunities today! Start trading with a safe and reliable broker.
Let's help you get started!