January 24, 2021

Bobby Lee: in 9 years, bitcoin will cost $ 500,000 and surpass gold in capitalization

Co-founder and former CEO of BTCC, the oldest Chinese cryptocurrency exchange, Bobby Lee is confident that by 2028 the price of bitcoin will reach the mark of $ 500 thousand.

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“Today, the gold market is $ 8 trillion, which in50 times the value of bitcoin. I predict that flipping will occur within 9 years and BTC will rise above $ 500,000. Given the global scale of today's print money, the price of BTC is likely to overcome the $ 1 million mark. ”

The basis of Lee’s forecast is the deficit nature of bitcoin, which implies an inevitable rise in the price of an asset subject to constant or growing demand for it.

“Bitcoin was designed to besuper valuable over time. In the first 10 years, there were only two halves of the block reward, but in the next 10 years there will be three (50% more)! By 2020, the daily issue volume will be only about ~ 255 BTC, annual inflation will be less than 0.5%. Deficit than gold! ”

Obviously, Bobby Lee’s hypothesis is in harmony withbased on the ratio of reserves and growth, the models of Seyfedin Ammus and the popular analyst Plan B, according to which halving inevitably leads to an increase in the price of BTC.

Recall, analysts at the German bank BayernLB suggested that after the halving expected in May 2020, the price of bitcoin will reach $ 90,000.