Bitcoin Price Predictions

Responding to a CNBC report that Bitcoin (BTC) could soon reach six figures regardless of who wins the U.S. election, Samson Mow claimed this is a bearish estimate. According to Mow’s previous speeches, the price of the first cryptocurrency will reach at least $1 million.

As of now, however, the price of Bitcoin is $57,500, which places it in the five-figure range, with its all-time high being nearly 28% higher at around $74,000 per BTC.

At this price, Bitcoin has a total market capitalization of $1.14 trillion, making it the eighth largest asset in the world, surpassing Warren Buffet’s Berkshire Hathaway (NYSE:BRKa), even though Buffet is famously skeptical of cryptocurrencies.

If Bitcoin reaches $100,000, its market capitalization would be close to $2 trillion, more than Amazon (NASDAQ:AMZN), currently the fourth largest company in the world.

Should Bitcoin hit the seven-figure mark of $1,000,000 per BTC, it would have six times more market cap than Apple (NASDAQ:AAPL) and surpass gold, the presently most valuable asset.

The question remains: Is this a realistic goal for Bitcoin? For Samson Mow, it’s evident; for critics like Peter Schiff, it’s a delusion. Only time will reveal the truth.

This article was originally published on U.Today