Bitcoin Price Could Reach $1.5 Million if Market Cap Equals Gold's
Financial institution JPMorgan has recently stated that Bitcoin could potentially outperform gold. Analysts at JPMorgan, led by Nikolaos Panigirtzoglou, believe that if ETF hedging becomes easier for investors, BTC could surpass the yellow metal in value. Bloomberg's Eric Balchunas, an ETF analyst, has predicted that Bitcoin ETFs will be a huge success and potentially triple gold's asset value.
In this scenario, if Bitcoin's market cap were to equal that of gold's, which is currently $30 trillion, and considering the current supply of 20 million BTC, each Bitcoin would reach an astonishing price of $1.5 million. This would represent a nearly 1900% increase in value for Bitcoin.
This prediction is not new, as several industry experts have long anticipated that Bitcoin's price will hit the $1 million to $1.5 million mark by the next decade. Binance founder Changpeng Zhao, Strategy founder Michael Saylor, and ARK Invest CEO Kathie Wood are among those who share this view.