Bitcoin Market Cap to Reach $10 Trillion in 5-7 years Says Fund Manager
Prakash Chand, the Managing partner of a Dubai-based crypto-focused fund managing assets worth $1 billion, FD7 Ventures, predicts the Bitcoin market cap to reach $10 trillion in the next few years. The expansion of Bitcoin will also see other potent, liquid altcoins like Ethereum, Cardano, and Polkadot roar to mega valuation. This will further lift cryptocurrencies' profile as worthy, must-have assets in any investment portfolio. At those valuations, the Bitcoin price would be trading at $570k, extending from Mar 11 spot rates.
Chand believes Bitcoin is a store-of-value whose valuation will quickly soar 10X to over $10 trillion in less than a decade. In his view--investors disillusioned by traditional systems, especially retail investors who got burnt by Robinhood, will most likely pour their funds—including part of the $1.9 trillion stimulus checks, to Bitcoin and crypto over stocks. Further tailwinds stem from Bitcoin's baked-in deflationary feature, deep-roots, and preference from institutional investors. In recent times, spurred by favorable prognosis from Citibank and JP Morgan’s analysts, are sizing Bitcoin, ready to assign a portion of their cash reserves in the most valuable digital asset.
Impact on the BTC Price:
Bullish. The evolution of BTC to be a store-of-value, a reliable transactional layer, and a choice digital asset for deep-pocketed investors gives it an advantage over altcoins. Though potent, Bitcoin is established, backed by the SEC as a utility, and has unparalleled liquidity.
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