Amid the seemingly inevitable SEC decision on the Bitcoin ETF, some are wondering if a trillion-dollar market capitalization is within reach.
Amidst a year of ups and downs, investors and enthusiasts are eagerly awaiting the decision on the SEC’s Bitcoin $6317.07 +0.32% ETF. Some are hopeful that the ETF will boost markets while allowing Bitcoin to reach the coveted trillion-dollar market capitalization.
There is a blueprint for a trillion-dollar market cap, but its basis doesn’t lie in historic events. It lies in future implications.
For many investors, the ETF approval is a major hurdle to cross on the way to a trillion-dollar cap. Last week, Bitcoinist reported that SEC commissioner Hester Pierce stated that there is “[…] no reason for us to not allow this product to go ahead.”
Karim Heiden, a business developer at TradingRoomApp questions what it takes to extend a 100 billion-dollar market capitalization to a trillion-dollar one. Heiden also makes note of some possible outcomes100 billion-dollar market cap for BTC to one trillion dollars?”
[…] but the fact of the matter is: an ETF approval on its own is like a red cloth for a bull — excuse the pun. Why? Because an ETF approval automatically means that the price will skyrocket. It sounds overtly simplistic.
A Matter of Time
Despite numerous postponements and delays, the ETF is almost sure to be approved. According to Heiden,
It will be the spark that lights the next bull market that will last twelve to eighteen months and drive the price of one BTC up to at least $58.000 and the market cap to at least one trillion dollars.
Despite a bearish short-term market projection, Heiden remains hopeful. He notes that bear markets are often a good signpost pointing towards opportunity for new ventures:
In fact, a shake out now is almost indicative of it since we believe ‘new money’ wants to enter at a low price. The question is: at what low?
For now, investors can only continue to dream of a trillion-dollar market cap. One thing is for sure — the ETF approval needs be granted before any real possibility of a trillion-dollar mark is entertained. Either way, the future is looking promising for investors.
What are your thoughts about a possible trillion-dollar Bitcoin market cap? Let us know in the comments below!
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Amidst a year of ups and downs, investors […]