One Analyst Has Bitcoin Reaching $4 Million

One Analyst Has Bitcoin Reaching $4 Million

Bitcoin on motherboard Venture capitalist Tim Draper has been very visible the past few years saying that bitcoin will hit $250, 000 by the end of 2022 or early 2023. Trip Chowdhry at Global Equities Research doesn't have the following that Draper has but his $4 million price target is certainly more bullish than Draper's. Bitcoin technology is configured so that there will only be 21 million bitcoins created. Currently there are approximately 18. 8 million in circulation priced at around $41, 500. This makes the market cap of all bitcoins right around $780 billion. To put this in a bit of perspective, Apple AAPL has the largest market cap of any company in the world and is worth $2. 4 trillion, Microsoft MSFT is at $2. 1 trillion and Alphabet/Google is $1. 8 trillion. If bitcoin reaches Chowdhry's $4 million target and all bitcoins are created, that would make the cryptocurrency's market cap $84 trillion. Even Draper's target of $250, 000 would make them worth $5. 25 trillion. 1) Bitcoin is "elbowing" for Renewable Energy Chowdhry believes that as bitcoin's price increases the number of miners and systems to create a bitcoin will increase. This will lead to higher