Not to be confused with JPMorgan Chase’s Jamie Dimon (“bitcoin is crap”), Anthony Pompliano of Morgan Creek Digital is predicting Bitcoin will go parabolic and reach a market capitalization of $5 trillion by 2024. Well, that is $5 trillion higher than Mr Dimon expects. In a recent tweet “Pomp” states;
“Bitcoin is the only $95 billion market cap asset I have ever seen that has a realistic chance of a 20-50x increase in value over a 5 year period”.
That increase would vault Bitcoin into the same valuation class as gold. With institutions just beginning to put their toes in the digital assets water, why not? Pompliano, who is the founder of Morgan Creek Digital, is obviously a super bull on Bitcoin. But there are more and more “big” people seeing the incredible potential upside in this asset class. So, risk/reward? Jamie or “Pomp?” More below (bad read if you are bearish)…
Bill Taylor/Fintek Capital
“In a tweet published on Monday (April 22, 2018), Pompliano identified Bitcoin as the only sub-trillion-dollar asset that looks capable of increasing by as much as 50 times within a five-year time frame.
Such an increase would see the market capitalization for BTC topping $5 trillion and bring Bitcoin into the same value class as assets like gold.
Currently, Bitcoin’s market capitalization is a little under $100 billion. The current positive run is seeing the top-ranked crypto regaining some of the ground lost during the bear market of 2018.
Bitcoin is currently enjoying a resurgence in 2019, up by more than 50 percent since the start of the year. The lion’s share of this growth has come in April with BTC price $5239.30 -0.34% gaining about 35 percent since April 1, 2019.
Pompliano, founder of Morgan Creek Digital and a known Bitcoin permabull, isn’t alone in this belief. Earlier in April 2019, Chris Burniske of Placeholder – a venture capital firm, forecasted that BTC could top $1 trillion in market cap during the next bull run…”