Bitcoin's current market cap is around $ billion. If Back's prediction is to come true, the market must increase by % within two years, Cointelegraph reported, noting that Bitcoin needs to. Nov 24, · Should the market valuation for BTC ever reach $1 trillion in the coming months, that would mean that one unit of bitcoin is likely to hit a price of . Sep 09, · Adam Back, the creator of a Proof of Work protocol that was built on for Bitcoin, recently laid out a number of reasons why Bitcoin appreciating to $50, and a .
Bitcoin market cap trillionBitcoin Can Reach $1 Trillion Market Cap & $50k Per BTC
Over a two-year period, metrics like miner revenue, transaction volume, and the number of wallets have increased. In , it is also outperforming traditional markets and commodities including oil and gold. Let us know your thoughts in the comments below. Images via Twitter APompliano , Shutterstock.
As for the US dollar, the researcher expects the world's most popular reserve currency to be digitized sometime in the next five years. The status quo is working well for the dollar because it is dominant through the SWIFT mechanism and the corresponding banking system, he said. The US government can also raise debt at attractive interest rates, supporting the dollar's status. But a competitive challenge lies in the crypto space and in the rise of stablecoins.
Shalini Nagarajan. Although the bitcoin rally was largely driven by institutional investors, he expects to see continued buy-in more from retail and Wall Street investors going forward. The researcher expects the US to digitize the dollar, but not too soon as he said "the Fed is happy with the way the world is.
Visit Business Insider's homepage for more stories. Read the original article on Business Insider. Indices in This Article.