Well-known cryptanalyst Willy Wu believes that by 2025, bitcois (BTC; $ 11,372; + 3.54%) will reach a market capitalization of $ 1 trillion. In 2013, Wu had already given such a forecast, and now he again supports it. So far, it seems, the main task of Bitcoin is to repeat its record of $ 20,000, which was in the middle of December 2017, when its capitalization amounted to one third of a trillion dollars.
His latest prediction on the capitalization of the main cryptocurrency Wu gave during the Coinist podcast of July 4th. During this conversation, Wu talked about the price of Bitcoin and its future price dynamics.
“I think the next cycle is to increase market capitalization to a trillion dollars, and the next cycle will lead to overcoming the market capitalization of gold.”
Thus, if we overcome $ 1 trillion, then the market capitalization of Bitcoin should go to $ 7 trillion. – this is exactly the market capitalization of world gold. If at the time of this writing, bitcoin’s market capitalization was $ 203.6 billion, this means that bitcoin must grow by 3400% in order to reach the capitalization of gold.
Peter Schiff, a recognized gold investor, now receives donations from bitcoin enthusiasts who want to convince him of the effectiveness of the most popular virtual currency:
However, Schiff is still pessimistic about the future of Bitcoin, and says that gold can work better.
Just like Twitter CEO Jack Dorsey, Wu believes that Bitcoin is a cryptocurrency that can work perfectly in transactions over the Internet.
Now there are quite a few analysts who believe that Bitcoin will easily come to $ 100,000. For example, the co-founder of Morgan Creek Digital Assets, Anthony Pompiano, is also confident that the main virtual currency can reach this level in the coming years.