Jack Mallers: “Bitcoin will rise by 20,000 percent”
- Jack Mallers has never been known for his restraint. However, with his latest price forecast, the serial Bitcoin entrepreneur is going out on a limb.
- Speaking to NYSE TV, Mallers said: “Everything a person owns is worth about $900 trillion: real estate, the stock market, bonds, goods, services—everything we own.” Half of these goods are used to save, Mallers said.
- “I think Bitcoin will swallow this market. It would be a $400-$500 trillion market.” Bitcoin's current market capitalization is only $2.3 trillion, so there's still plenty of room for growth.
- More precisely, “100- to 200-fold.” If Bitcoin actually increases by a hundredfold, one BTC would be worth a whopping $10 million.
- However, this estimate would only come true if Bitcoin truly completely displaced all other stores of value. Then there would be no more fiat currencies, the price of gold would be determined solely by its industrial value, and real estate prices would plummet. A rather unrealistic prospect.
- Even if $10 million per Bitcoin is wishful thinking, digital gold still has enormous growth potential this year. The Fed's interest rate decision has breathed new life into the crypto market.
- Josip Rupena, founder and CEO of Milo, commented to BTC-ECHO: “Lower interest rates typically benefit so-called 'risky' assets, which include digital assets and equities. When borrowing costs fall and liquidity improves, investors often feel more comfortable allocating capital to these categories.”
- At Bitpanda, you can trade Bitcoin more affordably than with any other broker. With Bitpanda Fusion, you pay only 0.02 percent in fees per trade.
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- Interview with Jack Mallers
