Market Guru Says A $1.5 Trillion Bitcoin Market Cap Is Coming — Here's How
Portfolio Pulse from Bibhu Pattnaik
Macro guru Hugh Hendry predicts that Bitcoin's market cap will triple to $1.5 trillion, driven by worsening macroeconomic conditions, regulatory targeting of non-commodity digital assets, and increased institutional involvement such as BlackRock's Bitcoin spot ETF push. He also mentioned that gold is a sound investment during a downturn but has limited upside potential.
June 25, 2023 | 7:39 pm
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Hugh Hendry predicts Bitcoin's market cap will triple to $1.5 trillion, driven by worsening macroeconomic conditions, regulatory targeting of non-commodity digital assets, and increased institutional involvement.
Hugh Hendry's prediction of Bitcoin's market cap tripling to $1.5 trillion is based on worsening macroeconomic conditions, regulatory targeting of non-commodity digital assets, and increased institutional involvement such as BlackRock's Bitcoin spot ETF push. These factors are likely to drive demand for Bitcoin, leading to a short-term positive impact on its price.
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