Strategic investor Lyn Alden says 2020 macroeconomic environment is extremely favourable to Bitcoin.
Strategic investor Lyn Alden says Bitcoin's growing network effect coupled with favorable macroeconomic factors may bring its market capitalization to $1 trillion in the next few years.
"I was concerned with dilution So if there isn't one network effect that retains control, you could see that kind of market cap distributed among multiple different protocols".
Three years later, Bitcoin has not only retained its market dominance but also its network effect is set to grow further.
Some analysts say, PayPal's latest cryptocurrency integration may triple Bitcoin's user base.
The macroeconomic environment generated by the COVID-19 pandemic, according to Alden, also favors Bitcoin.
In particular, central bank money-printing and interest rates at historic lows is increasing the appeal of scarce assets that retain their value in an inflationary environment, such as gold and Bitcoin.
That is why Alden predicts a significant capital spillover from traditional assets into the leading cryptocurrency in the years to come.
"If Bitcoin ever reaches one trillion, that's still 10 percent the size of gold Could it reach 10 percent of the gold market cap? I think so," she said.
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Macro factors could bring Bitcoin to $1 trillion market cap, strategic investor say
Publié le Nov 12, 2020
by Cointele | Publié le Coinage
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