Can the price of Bitcoin reach $420,000?
The founder of asset management company Edelman Financial Services, Ric Edelman (who manages $291 billion in assets), predicts that BTC will reach $420,000.
Their reasoning is that it doesn't take much to reach the $420,000 price for BTC.
Let's start by looking at the scale of global financial assets.
These are the values at the end of last year:
+ Global stock market: 123 trillion dollars
+ Global bond market: 138 trillion dollars
+ Global real estate market: 379 billion dollars
+ Global gold: 14 trillion dollars
+ Global cash: $53 trillion
+ Other global assets: $27 trillion
+ Bitcoin: 0.8 trillion dollars
= Total: 738 billion dollars
If all of these financial advisors and asset managers allocated just 1% of their client portfolios to Bitcoin, the total cash flow would be $7.4 trillion.
Of the total 21 million bitcoins, 19.4 million bitcoins have currently been mined, meaning this influx will increase the value of each bitcoin to approximately $378,000.
Add the bitcoin price of $42,000 as of December 31 and you get the future value of bitcoin: about $420,000.
#BTC #bitcoin #notcoin #BlackRock #MicroStrategy $BTC