Bitcoin May be Undervalued

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A new report has come that is showing how bitcoin could potentially reach an extremely high value in a few years. The report comes after an interview with one of the most famous names in cryptocurrency; Cameron Winklevoss. The market capitalization of cryptocurrency currently stands at around $135 billion, which understandably is a lot lower than it was just a month ago. This comes after a violent sell off that recently took place in the market. The new report shows that the market capitalization could reach 40 times this, which would make it around $5 trillion.

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Cameron Winklevoss stated that “Taking bitcoin in isolation … we believe bitcoin disrupts gold. We think it’s a better gold if you look at the properties of money. And what makes gold gold? Scarcity. Bitcoin is actually fixed in supply so it’s better than scarce … it’s more portable, its fungible, it’s more durable. Its sort of equals a better gold across the board.” He further stated that “So if you look at a $100 billion market cap today, now last week it might have been more like 200, so it’s actually a buying opportunity, we think that there’s a potential appreciation of 30 to 40 times because you look at the gold market today, it’s a $7 trillion market.

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And so a lot of people are starting to see that, they recognize the store of value properties. So we think regardless of the price moves in the last few weeks, it’s still a very underappreciated asset.” Even if the market remains at this low number for some time, in ten to twenty years, reaching this high number in the trillions may become extremely likely. The hopes are high that the crypo industry can continue to grow in the coming years as more and more get involved.


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