After Surpassing Goldman Sachs, Bitcoin Marketcap to Overtake Apple in Next Five Years
It’s a rejoicing moment for supporters and fans of Bitcoin, as founder of Standpoint Research – Ronnie Moas – who previously predicted Bitcoin value to cross $5000, has now put yet another ambitious target. After having already surpassed Goldman Sachs in terms of market capitalization, Ronnie believes that in next five year’s Bitcoin price is all set to hit $50,000 by toppling the richest technology giant ‘Apple Inc’.
In a special interview to CNBC’s “Capital Connection” Ronnie said :
“People need to start taking this seriously because today bitcoin caught up with Goldman Sachs.Within five years, it’s going to catch Apple which has (a more than) $800 billion market cap.”
The current market cap of Bitcoin stands at $95.9 billion and that of Goldman Sachs is at $93.67 billion as reported by Thomas Reuters, at the time of publishing this article. While on the other Apple’s market cap as-on-date stands at $807 billion.
In addition to talking about these companies, Ronnie also highlighted the fact that the combined global market for cash, gold, bonds and stocks stands today at $200 trillion. He said:
“I’m not excited about putting my money in any four of those options right now. If 1% of that $200 trillion finds its way into cryptocurrency in the next 10 years, you will be looking at a $2 trillion valuation, 12x what it is today, and that will drive bitcoin price above $50,000.”
While further explaining about the scenario and future prospects, he said:
“You have a supply-demand equation here that is mind-boggling. There will be a situation in a couple of years where there are 200 million people around the world trying to get their hands on a few million Bitcoins. That is going to drive price to $50,000 – a $1 trillion dollar valuation [of bitcoin] which is less than 15% of what gold is at today.”
During the interview, Ronnie was also asked about what he feels about Jamie Dimon’s comments as well as the criticism surrounding Bitcoin coming from other prominent industry players. To this, the stock analyst said
“Heavily invested in publicly-traded US banks”, banks which are “threatened” by bitcoin. So, I don’t expect those people to come out and recommend [anyone] to buy bitcoin, because that hurts their business.”
While talking about the overall scenario in the cryptocurrency market, Ronnie believes that riding on the Bitcoin wave, the market has witnessed entry of 1000 of other cryptocurrencies which is nothing but a ponzi scheme and a bubble similar to the dot.com bubble of the 90s.
Well it remains to be seen as how things unfold in the future, but looking to the past accurate predictions of Ronnie, Bitcoin optimists and supporters have every reason to believe in him.
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