Crypto Investor Predicts 10x Growth for Bitcoin
Crypto investor Brian Kelly is bullish on Bitcoin, predicting that the king crypto’s market cap could soar 10x higher if it takes market share from gold. In an interview on CNBC’s Fast Money, Kelly outlines several reasons for his bullishness, including a forthcoming halving and the potential approval of a spot market Bitcoin exchange-traded fund (ETF).
Kelly suggests that Bitcoin could become a more popular investment, similar to gold. He argues that Bitcoin is more versatile than gold, especially with the rise of digital transactions. While gold can only be stored and not easily used for online purchases, Bitcoin is easily transacted over the internet. With this in mind, and the potential Competition from gold, Kelly believes that Bitcoin’s market cap could increase significantly.
Current Bitcoin Price
Bitcoin is currently trading at $36,203, down 3.5% in the last 24 hours.
Hot Take
Brian Kelly’s predictions highlight the potential for Bitcoin to increase its market share by displacing gold as a popular investment. Whether Bitcoin will ultimately reach the projected 10x growth remains to be seen, but the increasing shift toward digital transactions and the potential advantages of Bitcoin over gold suggest promising opportunities for this major cryptocurrency.
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