According to Morgan Creek Digital co-founder, Anthony Pompliano, Bitcoin will skyrocket and pass $400,000.
Pompliano, who is also a prominent Bitcoin advocate, believes Bitcoin’s market cap will grow to $8 trillion. Currently, Bitcoin’s market cap is just over $214 billion according to data from CoinMarketCap.
Speaking in an episode of ‘What Bitcoin Did’ with Peter McCormack, the Bitcoin advocate compared the value of gold to that of the king coin. He said:
“There are people [who] would debate what the size of the gold market is but let’s just use easy numbers. Let’s say that it’s $8 trillion. That puts Bitcoin at, depending on how many are lost or stolen, $400,000 [to] $450,000 today. Do you think that Bitcoin is going to be the equivalent of the gold market? I don’t. It’s better. It’s going to capture more market.”
Pompliano is confident that Bitcoin will hit $100,000 before 2022. To back his prediction, he said that the U.S government’s stimulus strategy will drive up the value of the king coin. The U.S government has been printing trillions of dollars in response to the impact of the coronavirus pandemic on its economy.
Pompliano also believes that Bitcoin’s recent halving in May would increase its demand since there are now 900 Bitcoins a day instead of the regular 1,800.
Image Credits: Pixabay
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