Fundstrat Global Advisors’ managing partner, and head of their research department, predicts that Bitcoin (BTC’s) market capitalization will be equal to gold one day.
Lee, in a recent interview with Natalie Brunell says the market capitalization of Bitcoin could rise by more than 1,100%, to $16 trillion.
Lee thinks that investors will flock more to Bitcoin, which he believes is a better store of value for their money than gold.
I think the minimum benchmark for Bitcoin is the moment when its value exceeds that of gold above ground, which today stands at $16 trillion. The reason that I believe that is a reasonable benchmark is because gold has some industrial and jewelry applications, but its primary value of $16 trillion is due to the fact that it is viewed almost as a single hedge against currencies and calamities.
Bitcoin seems to be more durable and practical if you ever need to use gold. You’d need some friends to help you carry a million dollars worth of gold. If you remember your Bitcoin address, then you can store one million Bitcoins in a wallet. To me, it seems like a much more effective hedge against disaster. It has many other applications. Over time it will be used for collateral, or as collateral .”
Bitcoin was trading at $66,096 as of the time of this writing. Its market capitalization is $1.304 trillion.
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The post Fundstrat Tom Lee Says BTC is a More Useful Hedging Against Calamity, Sees BTC Market Cap Growing 1,100% may be updated as new information becomes available.
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