The Bitcoin can still trade at more than 50% below its high of $ 20,000, but that did not stop investors and leaders of space to look to the future, guessing what will follow for the asset.

According to the CEO of Kraken, the main Bitcoin exchange   , there is a bright future ahead of the main cryptocurrency. He said, in fact, that the BTC could overshadow gold in the years to come, especially since the supply cap of 21 million is really starting to play a role in the dynamics of this emerging market.

Bitcoin could overshadow gold, which has a market capitalization of $ 10 trillion

On June 16, Kraken co-founder and first Bitcoin adopter , Jesse Powell, met with Bloomberg to discuss his latest thoughts on the cryptocurrency market.

The bitcoin is already worth of investment reserve, Powell said, citing how the graphic assets has always been "upwards and right" from a macro perspective. "People flock there as a refuge because of its limited and predictable supply. No one can print it, ”he added.

This feature will allow Bitcoin to "surpass gold as a store of value."

Right now, the market capitalization of gold is estimated to be around $ 9-10 trillion.

The bitcoin "excess" gold would mean that each piece would be trading somewhere in the range of 450,000 to $ 500,000 - a rally of over 4500% from current prices.

His expectations that Bitcoin will eventually overshadow the precious metal have been echoed by other prominent names in the industry.

According to previous PassionCrypto reports  , Raoul Pal - a former executive and hedge fund manager at Goldman Sachs - wrote in a recent newsletter and told Max Keizer that BTC   reaching $ 500,000 is doable because cryptocurrencies are on the verge of becoming an "entire ecosystem" at the macro level:

“If it becomes an ecosystem, and we think it will be and take the whole ecosystem with it, then yes, I think a figure of $ 10 trillion is easily achievable under this process."

Mark Yusko of Morgan Creek Digital also weighed in.

The fund manager has repeatedly said that bitcoin reaching a price of $ 400,000-500,000 is entirely possible:

“All of the fundamentals of network value are increasing - and they are growing exponentially. And so you get this parabolic growth chart. […] By 2025, we will probably see $ 250,000 in bitcoins, and then, by 2030, we could see $ 400,000 or $ 500,000 in bitcoins as it reaches gold equivalence. "

Math supports that feeling

The calculation is also there to save this feeling.

Quantitative analyst and pseudonym investor “PlanB” in March 2019 shared that according to his research, Bitcoin's market capitalization can be somewhat predicted by its level of scarcity.

PlanB has created an econometric model indicating that after each halving, the fair value of Bitcoin should increase almost logarithmically.

The recent cut in half is expected to push the BTC to ~ $ 100,000 while the following, which is expected to take place in 2024, will push the seven-digit cryptocurrency, the model says.

Many have doubted the model, calling it "hopium," although there are other analyzes suggesting that the analysis is solid due to the inherently exponential nature of technologies like Bitcoin . 

Bitcoin is the “fastest horse in the race”

In a world where fiat money is being printed at a faster rate than ever, with monetary measures reaching new records, Bitcoin is the "fastest horse in the race".

It 's according to billionaire hedge fund investor Paul Tudor Jones, anyway. Prominent Wall Street veteran, who was nicknamed by Galaxy Digital's Mike Novogratz as one of the four “titans” in the macro investment world, came out in May saying that Bitcoin would appreciate much faster that even gold and stocks in a world where fiat money is losing value.

Of course, this was not an explicit statement that Jones expects Bitcoin to exceed gold. But it shows that he expects BTC to gain at least on the gold market capitalization in the coming years:

"I am not a proponent of bitcoin ownership in isolation, but I recognize its potential at a time when we have the most unorthodox economic policies in modern history. […] Bitcoin reminds me of gold when I joined the company in 1976. ”