A 50k Bitcoin price would mean it is only about 12% the market cap of gold, about equal to a large tech company

I'm no genie and I know most of you around here are bullish long term, but I do see the occasional naysayer who thinks Bitcoin is worthless or that shits on anyone who makes a strong prediction regarding the future price possibilities. People were saying the same type of stuff when the price was $10 saying it would never touch $100, and again when the price was $1000 saying it would never touch $10k. Now it's people saying we'll never sniff 50k, 100k, etc. But a 50k Bitcoin would correlate to about 12% of the value of gold. This seems almost likely rather than just a possibility. A 50k Bitcoin would make the entire asset class worth about 1 trillion dollars, there are a handful of singular companies worth a trillion dollars and we are talking about an entire asset class. Ignore the dips and urges to sell and HODL everyone! I think big days are coming in the years to come

Submitted May 20, 2020 at 08:03AM by HairBones69 https://ift.tt/2LL9OMJ