Often bitcoin (BTC) is also called the “digital gold”. It is an asset that is not tied to anything and is often used as a saving/investment option in economically unstable times. According to the well-known analyst Willy Woo, bitcoin can eventually become larger than gold itself, a different and better-known potting agent.
Woo said this on July 4 during the Coinist Podcast. Woo predicted in 2013 that bitcoin will have a market capitalization of $ 1 trillion by 2025. During the podcast, he emphasized that this expectation still stands. Woo bases its expectations on the cycles that form the bitcoin rate.
According to Woo, if the price continues to follow these cycles, bitcoin will become larger than gold itself after the cycle of 2025. During the podcast, Woo said:
I think this cycle will take us beyond the trillion dollars, and then the next cycle will be the one that makes bitcoins market capitalization greater than gold,
For Woo, however, becoming bigger than gold is not the most important goal. For him, bitcoin is the “digital currency of the internet”. He concluded with:
Bankers say it’s a bubble, technologists call it a disruption; history students would call it the rise of the digital age,
It always remains to be seen whether such predictions will come true. Nevertheless, given the recent price movements, it certainly remains possible that bitcoin has not yet reached its peak. Investors therefore continue to see it as an important investment vehicle in economically unstable times as a result of, for example, the trade war between the United States and China.