Few influencers in the crypto industry are highly bullish on Bitcoin. Prominent investor and podcast host Preston Pysh claims people underestimate the top digital asset’s bullish power when suggesting a $10 trillion market cap for Bitcoin.
People Underestimate Bitcoin
The market capitalization of the flagship coin will surge above $100 trillion, Pysh said during his talk at podcast The Bitcoin Standard podcast. He says that a $10 trillion prediction is just no more than a joke because Bitcoin is more than that.
The game will not end even if Bitcoin replaces gold, but it will continue to soar further. According to Psysh, one Bitcoin’s future value will stand between $5 million to $10 million.
At current, the governments are busy printing more and more cash. The central banks are not going to stop printing money. Here comes the role of the top digital coin whose limited supply is a powerful tool. Moreover, the flagship coin is deprived of manipulation, which is familiar with traditional money systems.
Bitcoin is already replacing gold as a better hedging instrument in the market. Many asset management companies reduced their gold capital and added the top digital asset in a significant amount. Some prominent personalities of the crypto industry believe that the leading digital asset will replace gold’s $10 trillion market cap.
The crypto industry will get a quick boost from the incoming Biden’s relief package amid the second wave of Coronavirus. During the first round of the stimulus package, the US crypto exchange noted a record number of BTC purchases worth $1200.
Another bullish factor is the entry of billionaires and Wall Street investors. Few billionaires also become active vocals for the leading digital currency and promoting it on Wall Street.
Crypto members are hopeful that Biden’s financial team has positive views of the industry. The US government will soon roll out a comprehensive regulatory framework to avoid uncertainty in the sector. The Office of the Comptroller of the Currency (OCC) recently approved Anchorage Digital Bank. The establishment of crypto-focused banks may open new opportunities for people directly or indirectly attached to the crypto industry.
At the time of article writing, the flagship digital currency’s price value is standing at $37,115 after a slight increase of 1.75% in the past 24-hours.