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Bitcoin To Rise Above $400000, Predicts Morgan Creek Digital co-founder

Bitcoin (Courtesy: news.bitcoin.com)
Bitcoin (Courtesy: news.bitcoin.com)

Bitcoin has shown promise in the recent times. Max Keiser predicted Bitcoin to hit the $28,000 mark as it will continue to grow even after reaching the price of $20,000.

At the present, Bitcoin is fluctuating between $11,100 to $11,400 range. This comes after a turbulent day in the market and now it has been predicted that Bitcoin can go all the way to rise above $400000. The bold prediction was made by Morgan Creek Digital co-founder and prominent Bitcoin advocate Anthony Pompliano.

Pompliano believes that Bitcoin will hit $400000 mark en route to an $8 trillion dollar market cap. 

In an episode of What Bitcoin Didpodcast with Peter McCormack, Pompliano said that the undisputed king of cryptocurrency will rise above gold.

“Here’s what I continue to tell people, name to me a business that was analog and got digitized and the digital version is smaller than the analog version. It doesn’t happen. It’s because digitization brings all kinds of advantages. It’s a market-expanding technology.

There are people [who] would debate what the size of the gold market is but let’s just use easy numbers. Let’s say that it’s $8 trillion. That puts Bitcoin at, depending on how many are lost or stolen, $400,000 [to] $450,000 today. Do you think that Bitcoin is going to be the equivalent of the gold market? I don’t. It’s better. It’s going to capture more market.”

He further backed his claims by saying that Bitcoin is a product of technological evolution similar to internet-powered giants like Airbnb and Uber.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.