In a recent appearance on the Keizer report, macro-investor Raoul Pal reiterated his prediction that Bitcoin's market capitalization could reach $ 10 billion if it ends up being the future of the financial system.

As PassionCrypto reported  , Pal wrote that Bitcoin had a decent chance of reaching $ 1 million over the next five years.    

Bitcoin doesn't make sense yet 

Although it paved the way for the dominant consciousness during the peak of the bull race in 2017, Bitcoin still doesn't make sense, according to Pal.   

He thinks that Bitcoin , with its current market capitalization of around $ 175 billion, can be compared to an average of American companies: To me, if it's the future of the financial system, it's the size of a business like Bed, Bath and Beyond or something like that. 

However, the aforementioned $ 10 billion would be easily achievable if Bitcoin were to create a new asset class (and not just a niche investment). 

Hedge funds to follow

On May 8, American investor Paul Tudor Jones recently made a Bitcoin bet with his fund Tudor BVI.

Max Keizer, the host of the Keizer report, predicts that other hedge fund managers could follow suit if Jones' bet ends up being successful.

Pal thinks that Jones could indeed convince other big players, including his billionaire colleague Stanley Druckenmiller, to embark on Bitcoin : If he generates alpha, they will have no choice.

Jones, who single-handedly reshaped the hedge fund industry, now has nearly two percent of his equity in BTC .