Bitcoin Headed to a $300T Market Cap? Michael J. Saylor’s Demonstration Is More Than SolidBitcoin will eat everything in its path in the future. Illustration by Sylvain Saurel
The year 2021 started as incredible for Bitcoin as the year 2020 had ended. Bitcoin ended the year 2020 with a new All-Time High (ATH) for its price nearly every day. The beginning of the year 2021 saw Bitcoin do the same with a (temporary) ATH of $41,946 reached on January 8, 2021.
I say temporary ATH here because the price of Bitcoin is expected to go much higher in the months and years to come. Regardless of the corrections that await Bitcoin price in the coming months, the price of Bitcoin still has the potential to rise so much that the current price will look extremely cheap in the future.
On January 8, 2021, Bitcoin also broke its record in terms of market cap, reaching almost $780 billion. This is a colossal sum that is more than two and a half times greater than the maximum market cap reached by Bitcoin during the 2017 Bull Run.
Seeing Bitcoin move closer to the $1 trillion market cap has brought up an old question that many people in the Bitcoin world are asking themselves.
That question is this: How far can the Bitcoin market cap go in the future?Bitcoin will first surpass the gold market cap
The first step for Bitcoin will be to replace gold as the favorite store of value for investors. Currently, the market cap for gold is around $10T. When Bitcoin reaches the current gold market cap, its price will be around $540K.
I say when here, not if. This is a conscious choice I am making because I believe that by the end of this decade, Bitcoin will have surpassed gold in terms of market cap. It’s only a matter of time in my opinion before a majority of people will eventually embrace Gold 2.0.
The world is changing as it digitizes. No sector will be able to resist this digitalization of the world. Gold will not escape the...