June 14, 2024

Bobby Lee: In a few years, Bitcoin will surpass gold in terms of market capitalization.

Bobby Lee: In a few years, Bitcoin will surpass gold in terms of market capitalization.

Market capitalization indicatorBitcoin will surpass gold and could eventually rise to $1 million. The founder of the Chinese cryptocurrency exchange BTCC, Bobby Lee, said this in a series of tweets. The expert believes that the situation may change as early as 2028.

I predict changes will happen over the next 9 years and BTC will rise to $500,000, – he wrote.

Lee argued the statement by reducing the supply of coins through halvings. He noted that in the next decade the number of BTC mined will be halved.

His arguments coincide with developments inwell-known model that determines the price of the first cryptocurrency – Stock-to-Flow. Popular social media analyst PlanB also predicted the future price of Bitcoin.

According to the presented calculations, the price of BTC/USDcould hover at just $8,300 until the next cut in May 2020. However, after this the situation should change dramatically, and $100,000 will appear in about two years.

Lee also joined PlanB, predictingmuch higher Bitcoin prices in the second half of the next decade. Although, according to PlanB, in the end, printing money can interfere with the Stock-to-Flow model.

The idea of ​​Bitcoin as an alternative storagecost, still has its main opponents. Among the biggest names – Peter Schiff. Last week, Schiff argued that China, which intends to back its state-owned digital currency with gold, remains bearish on Bitcoin. Let us remember that before this, the expert predicted that BTC/USD would never reach $50,000, while gold could easily surpass the $5,000 mark.