Bitcoin’s Market Cap Could Surpass Gold, Says Binance CEO
bitcoin’s price has been on a steady rise, marking its third consecutive day of growth. Traders are hopeful about a potential U.S.-China trade deal and possible Federal Reserve interest rate cuts.
Binance CEO Changpeng Zhao believes Bitcoin’s market cap could surpass gold’s. However, this monumental shift will require important growth.
Gold’s price has surged to over $4,600, with analysts predicting further increases. To outshine gold’s $30 trillion valuation, Bitcoin’s price needs to hit $1.5 million per coin.
Bitcoin recently reached $111,000, up 7.25% from its lowest point this year. Despite a 12% dip from its yearly high, it remains in a correction phase.
Gold’s value has skyrocketed this year, rising from $2,600 in January to $4,345 today. Central banks, particularly China, are accumulating gold due to U.S. policies and rising public debt.
Bitcoin’s market cap is now over $2.2 trillion, growing 18% this year. While gold has outperformed Bitcoin in 2023, Bitcoin has historically shown stronger long-term gains.
For Bitcoin to surpass gold,it needs a 1,254% increase. This is feasible given its past performance. Key factors include rising demand, ETF inflows, and tightening supply.
- Gold’s market cap is currently $30 trillion.
- Bitcoin needs to reach $1.5 million per coin to surpass gold.
- Central banks are accumulating gold due to economic uncertainties.
Bitcoin’s bullish catalysts, like demand-supply dynamics, could push it toward $1.5 million. CZ’s prediction highlights Bitcoin’s potential to become the world’s most valuable asset.
