Changpeng Zhao (CZ), CEO of cryptocurrency exchange Binance, said that Bitcoin could reach a minimum market capitalization of $ 2 trillion with no effort. At the moment, governments around the world are stepping up printing more money. If so, the price of the market-leading coin will increase dramatically, to $ 100,000 per BTC.
As we get used to talk about Trillions, a modest $ 2 trillion market cap of #bitcoin Will put 1 BTC at $ 100,000. Not such a hard to imagine number now, right?
As most BTC are not for sell (HODLers), we only need a small portion of that $ 2t to buy to reach it.
– CZ Binance 🔶🔶🔶 (@cz_binance) March 25, 2020
Will Bitcoin reach $ 2 trillion in market capitalization?
CZ points to the fact that a relatively small portion of buyers is enough to boost the coin's market capitalization to reach $ 2 trillion as mentioned earlier.
In fact, this goal seems not too far-fetched, based on the fact that the coronavirus economic bailout in the US alone has reached $ 6 trillion. This is the largest bailout package in history, equivalent to 50 Bitcoin networks.
Perspective: the United States just announced the creation of nearly 50 Bitcoins worth of dollars out of thin air. Not 50 BTC, but 50 Bitcoin networks.
– Jameson Lopp (@lopp) March 25, 2020
The bailout package includes US $ 4 trillion for strengthening the Fed's lending capacity, which expands the acquisition operation up to US $ 1 billion per day until the end of March.
Could Binance's boss flatter Bitcoin so much?
It can be said that Changpeng Zhao is a pretty crazy person with Bitcoin. He once said that those who sold BTC under $ 10,000 should slap themselves in the face.
He is even so extreme that he will unfollow the puzzled, fearful, and skeptical people of Bitcoin's price. Those are the people who forecast Bitcoin price at $ 5,000.
Maybe you are interested:
Join our channel to stay up to date on the most useful news and knowledge at:
According to BeInCrypto