Willy Woo shared his take on how high Bitcoin can potentially progress over next few years
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He suggested there are two levels, minimum and maximum ones, depending on how much of all global wealth assets will beThe trading expert believes that in accordance with “simple maths,” the lower band for Bitcoin sits at $700,000 and the upper one is $24 million per BTC. However, he immediately said that $24 million is “never gonna happen” because, for that, all the $500 trillion wealth assets in the world must be invested in Bitcoin.
The higher one in theory, per Woo, goes as high as $24 million. But in order for Bitcoin to achieve that, all the $500 trillion of global assets must be invested in BTC, and that is “never gonna happen,” Woo believes. According to the chart of the Adoption S-curve, global BTC adoption by now has reached 4.7%. When it enters the zone between 16% and 50%, the price will reach the aforementioned levels, according to Woo.that once the market capitalization of Bitcoin exceeds all the fiat in the world , investors will stop caring about the ultimate BTC price since that is “a fiat mindset based on current realities.”
What investors will start doing is look for assets that “can beat BTC.” Those, first of all, will be shares of companies that will be storing their profits in Bitcoin.Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets.
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