Erik Voorhees delivers epic Bitcoin prediction where BTC is to surpass gold, oil, and USD
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He stressed the key feature of Bitcoin, underscoring the fact that it is likely to play a key role now as the demand for BTC is going up fast.Erik Voorhees, being an OG Bitcoin supporter and its early investor, published a tweet about Bitcoin, hinting, similarly to other Bitcoin proponents, the high potential BTC has in surpassing all other major assets in the future, including such fundamental ones as the US dollar, oil, and gold.When demand for oil rises, more oil is produced.
However, when the demand for Bitcoin goes up, here Voorhees left his thought unfinished, hinting that more Bitcoin cannot be produced since Satoshi Nakamoto programmed BTC to exist only in the form of 21 million coins. Slightly more than 19 million Bitcoins have already been mined and the majority of them are circulating the market now. A lot of BTC have been held in cold wallets for many years. A lot is being held byat the moment. According to a recent report by the Chinese crypto journalist Colin Wu, these institutions have acquired so much BTC that for the first time in history they are holding more than 5% of all BTC market value.
The total net asset value of the Bitcoin spot ETF is US$72.545 billion, and the market value of the ETF's net assets accounts for 5.07% of the total market value of Bitcoin, which is the first time in history that it has exceeded 5%. On October 29, the total net inflow of the…The net value of the Bitcoin spot ETF, Wu continues, is now equal to $72.545 billion.
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