Popular on-chain analyst Willy Woo predicts that Bitcoin (BTC) will eventually reach an extremely high value. Woo attracted the attention of the crypto world by making many remarkable predictions for Bitcoin.
$700 Thousand Estimate for Bitcoin
Woo stated on social media platform X that Bitcoin has the potential to capture 3 percent of total wealth assets worldwide. He stated that in this scenario, Bitcoin could increase by more than 975% from its current value. Woo suggested that Bitcoin's maximum value could rise to $700,000 and could reach up to $24 million if he captured all wealth assets.
Woo thinks Bitcoin will hit a six-figure price target, and this will be possible if the global adoption rate reaches a level between 16% and 50%. Currently, Bitcoin's adoption rate is around 4.7%. The adoption s-curve chart shows how this rate can increase over time.
Woo argues that Bitcoin's market value could eventually surpass all fiat currencies. At this stage, investors will begin to look for alternative investments that perform better. According to the current fiat mindset, Bitcoin reaching this inflection point will be a significant turning point.
Woo emphasized that as companies began storing their profits in BTC, MicroStrategy founder Michael Saylor was the first public company CEO to embrace this trend. However, he noted that many companies are likely to adopt this strategy.
Bitcoin's potential to capture 3% of world wealth assets.
Direct correlation of six-figure price target to adoption rate.
A market cap target that will exceed fiat currencies.
The strategy of companies to use BTC to store their profits.
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