Analysts at Ark Invest, an investment firm with a whopping $ 53 billion under management, claim the market capitalization of bitcoin (BTC) “Easy” will transcend that of gold.
Currently, bitcoin’s market cap is around $ 1 trillion and that of gold is around $ 10 trillion. According to the analysts, this means that the bitcoin price will increase tenfold in the coming years to about half a million dollars per bitcoin:
“If you look at gold with a market cap of $ 10 trillion, bitcoin is about 10 percent of that. And if we believe that bitcoin is a 100 times better version than that, then it is fairly safe to say that there is a high probability that bitcoin will conquer much of the gold market and more. ”
Said Yassine Elmandrja, one of these analysts The Times on April 5. She reports that bitcoin will gradually grow into a “mainstream financial tool.” Earlier this year Janet Yellen, the new US Treasury Secretary, said bitcoin is “inefficient and unstable,” and “mainly used in illegal activities.” Elmandrja responds critically to these statements:
“I really think they are just outdated arguments as a sign of their complete lack of education, which is another sign of their lack of interest in learning about this.”
Ark Invest manages the largest exchange-traded fund (ETF) in the world. Cathie Wood, founder, CEO and CIO of Ark, was announced by Bloomberg late last year “best stock picker of 2020Appointed. The company recently raised $ 200,000 selling Ark merchandise in the fight against Covid-19:
Thank you to everyone who purchased ARK swag in Q1. Our goal was to raise $25,000 for Covid-19 relief, but with your help we were able to donate $200,000!
Can we top that in Q2? 100% of profits on ARK swag this quarter will go towards cancer research. https://t.co/5opgt1djag pic.twitter.com/1KNh3sQlFv
— ARK Invest (@ARKInvest) April 2, 2021
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