Bitcoin will one day have a market cap of $50 trillion. I believe this due to old money dying (baby boomers who love buying and holding gold) and the fact that roughly $35 TRILLION dollars will be passed down to heirs from rich motherfuckers to their spoiled cocaine induced rich brats…I’m sorry they prefer the term “privileged”…I apologize.
1. There’s estimated (per WSJ) that $35 trillion dollars that will be passed down to heirs in the coming years.
2. Gold has a market cap of $11.458 trillion.
3. Bitcoin’s current market cap at the time of this writing is $638.59 billion.
Current price is $33,331.40
I believe that 30 years from now when the baby boomers eventually die, that no one will buy as much GOLD as they do now…and that the “new money” will purchase bitcoin, and put at least 5% of their total wealth in Bitcoin.
Think of it like this…my best friend is extremely rich. Well…his grandfather is. Private jet. New cars. Trust fund. All that good shit. I believe that him, and rich kids like him will not buy gold. PLAIN AND FUCKING SIMPLE.
New money will buy Bitcoin instead. Meaning that our current valuations are a gift if your bullish like me on bitcoin. So…like I said, there’s $35 TRILLION DOLLARS just sitting in a bunch of dusty old lady’s bank accounts.
So I believe that gold will slowly wither away and the gold market cap will essentially SWITCH with bitcoin (gold $11.458 trillion. BTC $638.59 billion) and the “new money” will be investing in real estate (rental properties, business, etc) and bitcoin as serious lifetime investments with their wealth. Let’s not forget about retail buying up and holding bitcoin as well, billionaire whales, companies, institutions and the possibility of other countries adopting it as a currency…the possibilities are endless for bitcoin.
In 30 years…I believe Bitcoin will have a market cap of $50 trillion or more…
WSJ story link: https://www.google.com/amp/s/www.wsj.com/amp/articles/older-americans-35-trillion-wealth-giving-away-heirs-philanthropy-11625234216
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