Bitcoin Will Moon To $500,000 Per Coin Says Bobby Lee

Bitcoin bull and CEO of BTC China, Bobby Lee, has thrown down his newest forecast, suggesting that bitcoin will flip gold’s market cap and discover it a method to $500,000 by 2028.

The daring declare got here by way of a Tweetstorm earlier Sunday, the place the crypto veteran rattled off a number of causes for BTC flipping gold. Regardless of gold being 50x forward of bitcoin with a market cap of $eight trillion, Lee believes that it’ll solely take BTC 9 years to overhaul. After flipping the dear steel, the bull posits that bitcoin will shoot as much as $500,000, giving a proposed market cap of over $9 trillion.

In fact, in his judgment, the cryptocurrency aficionado cited the upcoming BTC halving. For Lee — and a myriad of others — this quadrennial occasion is ready to supply an enormous upswing within the worth of the digital forex.

Right here, Lee refers to bitcoin’s decreased inflation following the bitcoin halving. Certainly, ostensibly applied as financial coverage by bitcoin creator(s) Satoshi Nakamoto, the halving assures in opposition to inflation by quelling bitcoins circulating provide each 4 years. This – by the ideas of provide and demand – offers BTC a liquidity edge, limiting its output and, subsequently, theoretically rising curiosity.

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