A popular cryptocurrency analyst, Willy woo, has recently predicted the market cap of Bitcoin, the flagship cryptocurrency, will hit $1 trillion by 2025.
Woo, speaking during an episode of the Coinist Podcast, added that in a future cycle, the flagship cryptocurrency will compete with gold and potentially beat it. The cryptocurrency analyst has called a $1 trillion bitcoin market cap, well before the 2017 bull run.
The first time Woo predicted bitcoin’s market capitalization would hit said mark was in 2013, and since then bitcoin dropped to a low of $200 after the collapse of the Mt. Gox exchange, and climbed to a near $20,000 all-time high in 2017’s bull run.
In the Coinist Podcast, he stated:
I think this cycle will get us past the trillion dollar cycle, and then the next cycle will be the one that takes us to breaking the gold market cap.
At press time, one bitcoin is trading at about $11,200 after falling 4.7% in the last 24-hour period. Its market cap is at little over $200 billion thanks to its rally so far this year, as late last year it wasn’t even at $100 billion.
This week, veteran gold bug Peter Schiff, the CEO of Euro Pacific Capital, revealed he owns bitcoin, ether, and bitcoin cash, and said that he was going to hold on to his BTC regardless of what happens to the cryptocurrency’s price. Schiff is known for being bullish on gold, and bearish on the U.S. dollar.
Back in May Tyler Winklevoss, a co-founder of the popular Gemini exchange, noted he believes bitcoin is gold 2.0 and that the cryptocurrency’s market cap has a lot of room to grow, taking into account gold’s $7 trillion market cap.
To Willy Woo, bitcoin is more than just a cryptocurrency that can one day surpass gold’s market cap, as he sees it as the world’s “internet-native digital currency.” His 41 trillion market cap prediction may not be too far off, if we consider John McAfee’s prediction that one BTC will trade at $1 million by 2020.
