Kim Dotcom remains very positive regarding the future of bitcoin and its market cap. In a recent tweet, Dotcom stated how he can easily see bitcoin’s market cap grow to US$100bn by 2020. That is quite a bold statement, considering it would value every individual bitcoin at US$5,000. Albeit this is not impossible, it seems rather unlikely at this stage.
Kim Dotcom Remains A Bitcoin Supporter
Even though Dotcom’s plans to launch Bitcache may have been delayed slightly due to his ongoing extradition battle, he sees a bright future for bitcoin. In a recent tweet, he shared his price prediction with the rest of the world. He stated how bitcoin’s market cap can easily reach US$100bn by 2020. To put this into perspective, bitcoin’s current market cap sits at just over US$20bn.
I think Bitcoin market capitalization will easily achieve a value of $100 billion by 2020. Do the math ? https://t.co/tqGWrfRq6B
— Kim Dotcom (@KimDotcom) March 4, 2017
If this price trend were to take place, it will mean bitcoin’s value per coin will multiply by five in the coming years. That is a rather bold statement, although some financial experts have echoed similar statements in the past few months. A lot of people are hopeful the value per individual BTC will go to US$5,000 or more, although it remains to be seen how this will be achieved. The upcoming bitcoin ETF decision may proposal the price in that direction, assuming it is approved.
Some bitcoin users are concerned Dotcom “only” sees bitcoin’s market cap grow to US$100bn. It is evident there is no lack of enthusiasm among bitcoin supporters, although we have to be realistic as well. Every BTC could be worth US$1m or more some day, but that does not mean most of us will see that happen in our lifetimes. Just a year or two ago, reaching US$1,250 per BTC seemed a realistic target for the next few years. Keeping that mind, US$5,000 seems a more than fair “target” as well.
It is true that, given the current bitcoin price progression, US$5,000 seems a bit undervalued. Then again, we have seen tremendous price growth over the past few months, albeit this trend cannot be sustained indefinitely. Until some major news breaks, or bitcoin becomes more accessible to the general public, there will no price increase to US$5,000 anytime soon. A lot can happen between now and 2020, though, and it will be intriguing to see how the bitcoin price evolves moving forward
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