Cathie Wood, head and leader at Ark Invest, is convinced that BTC’s market cap n is set to increase exponentially in the coming years, following a growing list of analysts who have gone bullish on the leading cryptocurrency.
Bitcoin Bull is Definite
Leading New York-based investment firm, Ark Invest, trusts Bitcoin’s (BTC) market capitalization would one day eclipse that of gold which currently stands at $10 trillion, according to a recent report by the London Times.
The investment firm led and founded by the experienced Cathie Wood, has revealed that researchers at its company are not only convinced of the potential growth of the leading digital currency, they are also certain that the coin would grow to become a major player in the world’s financial space soon. Bitcoin is steadily making its way into mainstream culture, and Ark Invest says this fact would no longer be a contest in a few years time.
Bitcoin bulls were rewarded early this year after the coin’s value made additions of more than five hundred percent in comparison to its 2020 high. As is regularly the situation, Bitcoin’s rising tide caused a sweeping rising wave among other altcoins too, causing other digital currencies like Ethereum and others to post record market caps.
Bitcoin (BTC) is currently valued a little above the one trillion dollar mark and is expected to beat previous heights it set in early January in the coming years. With the worldwide market cap now worth just shy of $2 trillion, the predicted mark of $10 trillion doesn’t look too far away.
Gold’s market capitalization is currently estimated to revolve around the $10 trillion mark as well, and investigators at Ark have predicted the digital coin to “overshadow” the gold in the near future.
Yassine Elmandjra, a fellow cryptocurrency researcher at Ark, suggests it is only logical BTC grows in importance more than gold in the coming years. We believe that “Bitcoin is hundred times a better version of the gold,” says Yassine. It is only a matter of time BTC shows that worth in its value as well.