U.Today – In response to a CNBC report that (BTC) could soon hit six figures regardless of who wins the US election, Samson Mow said that this is a despondent assessment. According to Mow’s previous speeches, the price of the first cryptocurrency is not below $ 1 million, and Bitcoin will reach this milestone.
However, the most popular cryptocurrency is currently trading at $57,500, a five-digit number, and its all-time high is up almost 28% at around $74,000 per BTC.
At that price, Bitcoin has a total market capitalization of $1.14 trillion. That figure would make Bitcoin the eighth-largest company in the world—higher than Warren Buffett’s Berkshire Hathaway (NYSE:)—ironic, since the Wall Street trading legend is a noted cryptocurrency skeptic.
If Bitcoin ever reaches $100,000, which is already a five-digit valuation, its market capitalization would approach $2 trillion, which would be more than Amazon (NASDAQ:), the world’s fourth-largest company.
However, if it manages to reach its first seven-figure mark of $1,000,000 per BTC, the cryptocurrency will have a market capitalization six times larger than Apple (NASDAQ:), and that’s just with its current supply of 19,753,159 BTC in circulation. What’s more, it will surpass gold, despite the precious metal currently being the most valuable asset in the world.
The question remains: is this a realistic goal for the largest cryptocurrency? For Samson Mow, this is obvious; for someone like Peter Schiff, it is a mass delusion. Only time will tell who is right.
