RATE Group | Veteran Investor Says Bitcoin Price Surge to $467,000 is ‘Achievable’
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Veteran Investor Says Bitcoin Price Surge to $467,000 is ‘Achievable’

14 May Veteran Investor Says Bitcoin Price Surge to $467,000 is ‘Achievable’

Posted at 22:53h in Bitcoin News by

Raoul Pal, the CEO and founder at Real Vision, believes the price of Bitcoin (BTC) can reach $476,000 in the long-term. Pal is not alone in this belief as hedge fund managers like Morgan Creek Digital’s Mark Yusko have also made similar predictions in the past.

Currently, the price of Bitcoin hovers at around $9,700 and high-profile investors like Max Keiser and Mark Yusko believe Bitcoin can rise to $500,000 in the long-term under two simple scenarios. One requires Bitcoin to overtake the gold market and the other stipulates that Bitcoin operates in a strong ecosystem. 

Pal said:

If it becomes an ecosystem, and we believe it will be and it will take the whole ecosystem with it as well, then yes, I think a $10 trillion number is easily achievable within that process.

According to data from CoinMarketCap, Bitcoin’s current market cap is $177 billion. The figure is reached by multiplying  the circulating supply of 18,377,331 BTC to the market price. 

The total market capitalization…

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