Gemini Exchange founder Tyler Winklevoss has published a report pleading the case for a $500k future price prediction for Bitcoin [BTC].
Published beneath Winklevoss Capital, the report adds explaining that Gold, Oil along with the USD are reliable stores of value. However, within these changing times, the traditional assets are no longer as reliable as they used to be. Therefore, Bitcoin is ultimately the sole long-term protection against inflation.
Fundamental Flaws of Gold, Oil, USD vs Bitcoin
With reference to Oil, it explains that the thought of scarcity not applies and that there’s more oil underground than initially thought. Additionally, demand could be affected by renewable energy and measures to increasing global warming issues.
Gold on the opposite hand features a fundamental flaw therein its total supply is still anonymous. While Gold remains scarce on Earth, while the galaxy is just filled with it. With commercial asteroid mining on the minds of determined individuals like Elon Musk, the availability of gold will surely be affected once this feat is achieved.
In the case of the USD, the cash printer continues to go Brrr and it’ll only cause inflation in upcoming times.
Bitcoin Undervalued By 45x
In pleading the case for a $500k Bitcoin [BTC], the report adds that global inflation is on its way, & money stored in gold or Bitcoin will outrun the scourge.
Inflation is coming. Money stored in the bank will get run over. Money invested in assets like land or the stock exchange will keep pace. Money stored in gold or bitcoin will outrun the scourge.
And money stored in bitcoin will run the fastest, even overtaking the price & popularity of gold.
From the latter statement, & employing Gold’s market capitalization of $9 Trillion as a way of valuing Bitcoin, the report concludes that the price of the leading cryptocurrency Bitcoin [BTC] is undervalued by around 45x times.
Today, the market capitalization of above-ground gold is conservative $9 trillion. If we are right about employing a gold framework to the worth of bitcoin, and bitcoin continues on this path, then the bull case scenario for bitcoin is that it’s undervalued by a multiple of 45x.
Said differently, the worth of bitcoin could appreciate 45x from where it’s today, which suggests we could see a price of $500,000 USD per coin.