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| © News1 DB |
On the 14th, as bitcoin continued to rally with even exceeding the 61,000 dollar mark, curiosity about how far in the future bitcoin will rise is amplifying.
Indeed, various prospects are emerging. It is pointed out that it is a typical bubble, and there are predictions that it will exceed $100,000 in the end as well as $100,000 within the year.
◇ It goes up to 100,000 dollars within the year : Prospects that it will reach $100,000 within this year are continuing.
“Bitcoin will surpass $100,000 this year,” said Anthony Skaramuch, founder and cryptocurrency investor of Skybridge Capital, who served as a White House spokesman during President Trump.
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| Anthony Skaramuchi is holding a press conference after being appointed as Director of Public Affairs at the new White House. © AFP=News1 © News1 Reporter Dongmyeong Woo |
“Institutional investors are jumping into the cryptocurrency market, but the supply is limited, so cryptocurrency has no choice but to rally,” he explained.
He said that Skybridge Capital’s’Bitcoin Fund’ holds about $500 million of Bitcoin.
Mike Novogratz, CEO of Galaxy Digital Holdings, a cryptocurrency investment company, said, “It is not surprising if Bitcoin exceeds $100,000 within this year because the market is overflowing with liquidity.”
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| Michael Novogratz-Save the company website |
◇ Goes up to 250,000 dollars : Cash Wood, CEO of Arc Innovation ETF, an American investment firm that has recently gained a reputation as a high-yield exchange-traded fund (ETF), said that the price could reach $250,000 because many companies incorporate bitcoin into their assets. Forecast.
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| Kathy Wood, CEO of Arc Innovation ETF-Bloomberg Capture |
He predicted, “If US companies add 10% of their cash to Bitcoin, the price of Bitcoin will reach $250,000.” “Recently, some companies have been adding bitcoin assets at an amazing level,” he added.
◇ The claim of going 1 million dollars : Anthony Pompliano, co-founder of cryptocurrency specialist Morgan Creek Digital Asset, predicts that Bitcoin will surpass $500,000 in the next 10 years, and eventually surpass $1 million (1.13 billion won). .
“In the long run, it could go up to $1 million because Bitcoin will eventually become the global reserve currency,” he said. “Bitcoin will be bigger than gold’s market cap,” he added.
The current market capitalization of the gold market is estimated to be about 10 trillion dollars. Bitcoin’s market cap is just over $1 trillion. It is argued that bitcoin must be at least 10 times higher than it is now in order to become similar to the market cap of the gold market.
He predicted that Bitcoin would eventually rally to $1 million because it would be bigger than the gold market cap.
◇ Typical Bubble Not Sustainable In a recent report, Wall Street’s renowned investment bank JPMorgan pointed out that the current situation is a typical bubble and is not sustainable.
According to the report, the market capitalization of Bitcoin was $700 billion over the past five months, of which institutional investment was $11 billion. Eventually, demand for individual speculation, not institutional, drives up prices, JPMorgan strategists pointed out.
Accordingly, JP Morgan strategists are convinced that the current rally is not sustainable.
◇ Bitcoin exceeded 60,000 dollars and surpassed 61,000 dollars On the other hand, Bitcoin, which exceeded the $60,000 mark the previous day, is running fast, even exceeding the $61,000 mark.
According to CoinMarketCap of the United States, which broadcasts the cryptocurrency market in real time as of 5:30 a.m. on the 14th (Korean time), Bitcoin is recording $61,536, up 7.22% from 24 hours ago.
Bitcoin surpassed $60,000 for the first time in history around 10 o’clock the previous night and wrote a report price. Bitcoin continued to rally afterwards, exceeding $61,000. As a result, Bitcoin’s market capitalization (market cap) was $1.139 trillion.
Bitcoin’s rally is analyzed as a result of the ultra-large economic stimulus bill of $1.9 trillion (about 2160 trillion won) recently signed by US President Joe Biden.
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| US President Joe Biden is signing a $1.9 trillion stimulus bill at the White House in Washington on the 11th. © AFP=News1 © News1 Reporter Dongmyeong Woo |
Cryptocurrency is emerging as an alternative investment vehicle as massive fiscal spending has raised concerns about inflation. Bitcoin, which is referred to as’online gold’ instead of gold, is being spotlighted as a means to hedge (avoid) inflation.