As a seasoned researcher with years of experience in the dynamic world of finance and technology, I have witnessed the unprecedented growth of Bitcoin (BTC) and its potential to disrupt traditional markets. Having closely followed the cryptocurrency’s trajectory, I find Samson Mow’s optimistic outlook on BTC reaching seven figures intriguing.
As an analyst, I would rephrase the given statement like this: In response to a CNBC report suggesting that Bitcoin (BTC) could potentially soar to six figures irrespective of the U.S. election outcome, Samson Mow expressed a bearish viewpoint. Previously, Mow has stated that the value of the initial cryptocurrency will surpass $1 million and achieve this significant milestone.
Currently, one Bitcoin is valued at approximately $57,500, a significant figure. Its highest recorded price stands at about $74,000, which is nearly 28% above its current value.
Currently priced at this level, Bitcoin boasts a total market value of an impressive $1.14 trillion. Remarkably, this colossal amount positions Bitcoin as the eighth most valuable company globally, surpassing Warren Buffet’s Berkshire Hathaway. Interestingly, this is noteworthy given that Mr. Buffet, a renowned figure on Wall Street, is known for his skepticism towards cryptocurrencies.
Bearish estimate.
— Samson Mow (@Excellion) September 12, 2024
Should Bitcoin one day hit the $100,000 mark, representing a significant six-digit value, its total market capitalization would approach an impressive $2,000 billion. This figure would surpass that of Amazon, currently the fourth most valuable corporation globally.
If Bitcoin reaches a value of $1,000,000 per coin, it would mean that its market capitalization exceeds Apple’s by six times, given the current supply of approximately 19.75 million Bitcoins in circulation. Intriguingly, this valuation would also surpass gold, which is currently the most valuable asset globally.
The question remains: is this a realistic goal for the largest cryptocurrency? For Samson Mow, it is a no-brainer; for someone like Peter Schiff, it is a mass delusion. Only time will tell who is right.
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2024-09-12 18:30