According to a recent study by Byte Tree, it is very much possible for the market cap of the leading cryptocurrency to reach $1 trillion by 2025 which was encouraged by the wealth creation of bitcoin as further institutions get involved with crypto.
When you take into consideration that this past week has seen the bitcoin price mostly in the green and seems to be reacting to positive news related to the increment of institutional involvement, it shouldn’t come as much of a surprise for this study being so confident in bitcoin hitting the $1 trillion market cap by the middle of the next decade.
It’s worth highlighting that just a few months ago, the crypto analyst Willy Woo predicted that bitcoin’s market cap hitting $1 trillion in six years time.
For those that don’t know, Byte Tree is a real-time crypto and blockchain news/analysis resource which predicted bitcoin would reach new highs “at a more moderate pace”.
The research states:
“Growth rates can go on for long periods of time but will inevitably slowdown as they mature. The implications for this trendline imply $10,000 bitcoin will remain a theme until late 2020, rising to $20,000 by Feb 2022 and $40,000 by May 2023.”
Byte Tree continues that in the future, there will be more money coming in owing to further adoption, more than ever before. With this, they are pushing the market cap of bitcoin to $1 trillion.
“Recall that if (nearly) 18 million coins quadruple in price, more than half a trillion dollars of wealth will be created. That’s more than possible and the network could touch a trillion dollars by 2025. Considerably more wealth creation lies ahead, than has occurred in the past. And as the network matures and enjoys greater adoption, the conversation will change. Institutions will become more open to the idea.”
It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!