Bitcoin [BTC] is the most dominant virtual asset in the cryptoverse, usually dictating the collective surge of the entire market. At press time, the market capitalization recorded by Bitcoin [BTC] was $143 billion.
However, Chris Burniske, Founder of Crypto Venture Capital, believes that Bitcoin [BTC] is on its way to achieve $1 trillion market cap before 2021.
In an interview with Ran NeuNer of CNBC crypto trader, Burniske stated that the scenario of Bitcoin reaching a $1 trillion dollar valuation was just one “potential reality” the wider cryptocurrency community could witness.
The $1 trillion expectation was assumed after taking Bitcoin’s [BTC] network value at press time, until the end of 2021. If the path followed by Bitcoin [BTC] was half as volatile as it was from May 2015 to the end of 2017, then Bitcoin [BTC] would cross a trillion dollars.
Chris also indicated that if Bitcoin [BTC] were able to hold its current market dominance, it might even be able to cross a $2 trillion dollar evaluation by the end of 2021.
“The Bitcoin [BTC] dominance index had been falling over time not because Bitcoin hasn’t been growing but just because of the higher risk, the more speculative assets grow faster in bull markets.”
Additionally, he said that in terms of adoption, Bitcoin continued to be utilized as blocks were as full as they ever have been.
Finally, Burniske stated that the long term future of crypto-assets was positive since the technology was “superior” to every other medium which was creating custody and transaction of digital assets.
Biraajmaan is an engineering graduate who is exploring the ever-changing crypto verse while traversing his passion for cryptocurrency news writing.