$15 Trillion Market Cap For Bitcoin? Crypto Firm CEO Predicts Explosive Growth
A well-known figure in the cryptocurrency space has boldly predicted that Bitcoin’s total market capitalization will reach $15 trillion within the next four years.
Dan Morehead, CEO of Pantera Capital, said global blockchain adoption still lags behind compared to other global financial assets and said blockchain’s untapped potential could drive Bitcoin’s value Growing exponentially. market capitalization.
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Bitcoin and the $740,000 target
Pantera executives believe Bitcoin prices could surge to $740,000 per coin, which the CEO said would happen within the next four years.
Morehead said the continued adoption of technology in finance will drive prices soaring, adding that “blockchain remains largely untapped.”
Morehead predicted that if Bitcoin reaches the $740,000 mark, the total market capitalization of the first cryptocurrency could reach $15 trillion.
Pantera Capital CEO predicts Bitcoin price of $740,000
According to Bloomberg, Pantera Capital CEO Dan Morehead emphasized in a letter to investors that the company’s Bitcoin Fund, launched in 2013, has achieved a lifetime return of 132,118%. Morehead predicts Bitcoin could eventually reach…
— Coinness Global (@CoinnessGL) November 26, 2024
Some may think $15 trillion is an exaggerated number, but according to the cryptocurrency executive, that’s not the case.
Morehead explained that Bitcoin’s $15 trillion market cap is still modest, noting that the global financial asset market cap is $500 trillion.
Financial wealth requires technology
Morehead’s prediction didn’t come out of nowhere, he said, but was based on the fact that financial wealth requires technology.
The cryptocurrency executive noted that approximately 95% of financial wealth is not yet involved in technology. Many analysts believe Blockchain technology Revolutionizing the financial industry.
Morehead said the financial wealth industry is in the early stages of a “massive transformation.”
“Ninety-five percent of financial wealth is not involved in blockchain. They are just now starting this huge shift. When they do, Bitcoin will likely be priced at around $740,000/BTC,” he noted.
Morehead said Bitcoin’s market capitalization could reach $15 trillion as early as April 2028. However, he warned that reaching this market capitalization level could take several more years than April 2028, citing the unpredictability of price trends as the main driver of Bitcoin’s valuation trajectory.
As of this writing, Bitcoin is Transaction price was $93,785 The total market cap per coin is $1.8 trillion.
Bitcoin: Historical Growth
Morehead said that historically, the price of BTC has surged by three orders of magnitude, noting that another price increase is possible.
He noted that Bitcoin and other cryptocurrencies are compelling investments because the digital assets have high potential returns relative to their risk profile.
“The expected value of this deal is the most compelling I’ve seen in almost 40 years,” he added.
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Current market conditions
Over the past few days, analysts noted that Bitcoin price fell 1.23% to $91,000, while trading volume increased 12% to $91 billion. On the other hand, the total market value of BTC fell slightly to $1.8 trillion.
Additionally, market liquidation for Bitcoin and small-cap tokens was $112 million and $81 million, respectively.
Featured images from DALL-E, charts from TradingView
