A prominent figure in the cryptocurrency space has made a bold prediction that Bitcoin could reach a market capitalization of $15 trillion over the next four years.
Dan Morehead, CEO of Pantera Capital, said global blockchain adoption remains slow compared to other global financial assets, adding that blockchain's untapped potential remains He said that it has the potential to spur significant growth in Bitcoin's market capitalization.
Bitcoin and $740,000 goal
Pantera executives believe the price of Bitcoin could soar to $740,000 per coin, and the CEO says it will happen over the next four years.
Morehead said the price hike will be driven by the growing adoption of technology in the financial sector, adding: “Blockchain remains largely untapped.”
Morehead predicted that if Bitcoin reaches the $740,000 level, the market capitalization of this first-born cryptocurrency could reach a whopping $15 trillion.
Pantera Capital CEO predicts Bitcoin to reach $740,000
Pantera Capital CEO Dan Morehead said in a letter to investors that the company's Bitcoin fund, founded in 2013, has achieved a lifetime return of 132,118%, Bloomberg reports. I emphasized what I did. Morehead predicts that Bitcoin could eventually reach…
While some may think the $15 trillion figure is exaggerated, crypto industry executives say that's not the case.
Morehead pointed out that the global financial asset market capitalization is $500 trillion, and explained that BTC's market cap of $15 trillion is still modest.
Financial assets require technology
Morehead said he didn't come up with his predictions out of thin air, and that his predictions are based on the fact that financial assets require technology.
Crypto industry executives pointed out that about 95% of financial assets are not yet involved in the technology. Many analysts believe that blockchain technology will revolutionize the financial sector.
Morehead said the financial assets industry is in the early stages of a “massive transformation.”
“Ninety-five percent of financial assets are not working on blockchain. They are just starting this massive transformation right now. Bitcoin could be around $740,000 per BTC.” did.
Morehead said Bitcoin could reach a market cap of $15 trillion as early as April 2028. However, he cited the unpredictability of price movements as a key factor in Bitcoin's valuation trajectory and warned that reaching this market capitalization level could take years longer than April 2028.
At the time of writing, Bitcoin is trading at $93,785 per coin, giving it a market capitalization of $1.8 trillion. Bitcoin: historic growth
Morehead said that historically BTC price increases have been triple digits, and pointed out the possibility of further price increases.
He noted that Bitcoin and other cryptocurrencies are attractive investments because digital assets have high potential returns relative to their risk profile.
“The expected value of the deal was the most compelling we've seen in almost 40 years of doing this,” he added.
Current market conditions
Over the past few days, the price of Bitcoin has fallen by 1.23% to $91,000, while trading volume has increased by 12% to $91 billion, analysts note. Meanwhile, BTC's market capitalization decreased slightly to $1.8 trillion.
Furthermore, the market clearing amount for Bitcoin and small market cap coins was fixed at $112 million and $81 million, respectively.
Featured images from DALL-E, charts from TradingView
