JPMorgan analysts, led by Nikolaos Panigirtzoglou, have stated that Bitcoin could outperform gold if ETF hedging eases. Bloomberg ETF analyst Eric Balchunas has predicted that Bitcoin ETFs will triple gold in asset value. Gold currently has a market cap of $30 trillion, while Bitcoin has a supply of about 20 million. If Bitcoin’s market cap equals that of gold, the price of each Bitcoin would reach $1.5 million, representing a rally of nearly 1900%. Industry experts including Binance founder Changpeng Zhao (CZ), Strategy founder Michael Saylor, and ARK Invest CEO Kathie Wood have predicted Bitcoin will hit the $1 million to $1.5 million mark by the next decade.
Financial institution JPMorgan recently said that Bitcoin could outperform gold. JPMorgan analysts, led by Nikolaos Panigirtzoglou, stated that Bitcoin could beat the yellow metal if ETF hedging eases. Bloomberg ETF analyst Eric Balchunas has predicted that BTC ETFs will triple gold in asset.
Gold currently has a market cap of $30 trillion. Bitcoin currently has a supply of about 20 million. If BTC’s market cap equals that of gold, the price of each BTC will reach $1.5 million. This would require Bitcoin’s price to rally by nearly 1900%.
Bitcoin breaching the $1 million price level has long been predicted by industry experts. Binance founder Changpeng Zhao (CZ), Strategy founder Michael Saylor, and ARK Invest CEO Kathie Wood are among many who anticipate BTC to hit the $1 million to $1.5 million mark by the next decade.
Bitcoin saw an upward momentum in late August and early September. The asset climbed to $81,000 before facing a correction. BTC’s price fell to the $75,000 price level after the US Senate voted against the highly anticipated CLARITY Act. Bitcoin faces further challenges, given that the Federal Reserve has raised interest rates by 25 basis points. Higher rates often leads to investors moving away from high-risk assets, such as cryptocurrencies.
Despite the challenges, some experts anticipate the cryptocurrency market to gain momentum by the end of this year. Bernstein analysts predict Bitcoin to reclaim the $100,000 price level by the end of 2026. BTC hitting $100,000 once again could trigger another bull run for the cryptocurrency market.
