Bitcoin could overtake gold market cap... reaching up to $900,000

An analysis has emerged that Bitcoin could reach the market capitalization of gold in the future, with its price reaching up to $900,000 (approximately 139.32 million yen).
Castle Island Ventures
Nic Carter, a partner at Yahoo! Ventures, predicts that the price of Bitcoin will rise by almost nine times in the long term.
"I think in the long term, Bitcoin will rival the market capitalization of gold, and this is the Bitcoin market," he said in an interview with Bloomberg TV on the 17th (local time).
"It will drive the price of the coin to the $900,000 level," said Bitcoin author Andy Edstrom on the 16th.
"I'm trying to get used to the fact that a 1% change in the price of Bitcoin is less than a $1,000 change," Edstrom said.
Bitfinex analysts believe that if Bitcoin rises by around 40% against its moving average to reflect the 2021 cycle, it could reach as high as $339,000.
"If the 2017 expansion cycle repeats with similar declining yields, Bitcoin could reach around $290,000 by early 2026," he added.
The possibility of the new Trump administration establishing a strategic Bitcoin reserve in the United States has been discussed in the cryptocurrency industry, raising speculation that the market scenario may shift to a new phase.
On the 17th, cryptocurrency analyst Tyler Durden posted on Twitter (formerly Twitter) that "if even one country were to introduce a Bitcoin strategic reserve, it would be impossible to create a Bitcoin reserve that would allow all of the existing Bitcoin reserves to be held in a single place."
"We will forget about the four-year cycle of existence," he said. Prior to this, after Donald Trump won the presidential election, the pro-cryptocurrency state of Wyoming
Senator Cynthia Lummis is pushing legislation that would require the U.S. government to buy and hold bitcoin for at least 20 years.
He revealed that.