In a recent tweet, Haider Rafique, CMO of leading crypto exchange OKX, said: bitcoin He emphasized the possibility of reaching $500,000. While this may seem like a far-fetched estimate, it also explained why and how the asset could reach this level.
According to Rafique, the BTC network is expected to contain more than 2 billion wallets in the next five years. There are currently about 45,264,498 addresses on the network.
Many firms around the world have started to embrace Bitcoin. Prominent crypto- The currency is in the treasury of several companies. However, Rafique believes that within five years, hundreds of publicly traded platforms will have BTC in their treasury.
The third point focuses on the market cap of Bitcoin. At the time of writing, the market cap of BTC is around $534 billion. In 2021, the market value of BTC had risen to $ 1.2 trillion.
Despite the drop, the cryptocurrency has outstripped many leading entities such as Meta and Visa. Currently, gold stands as the 11th largest asset, below Apple, Microsoft, silver and others. However, OKX CMO suggested that the market cap of the asset could rise above the “most precious metals”.
According to Rafique, Bitcoin has become the reserve currency for more than 50 countries around the world. may come. This could increase adoption and put the currency under the spotlight. OKX CMO continued to ask his followers about their stance on forecasting.
5 years into the future (not investment advice)
– $BTC price ATH at $500k +
– 2 billion+ bitcoin wallets exist
– hundreds of publicly traded companies hold BTC in their treasury
– BTC market cap above top precious metals
– becomes reserve currency for more than 50 nations— Haider (@Haider) March 22, 2023
A Small Setback Before A Big Breakout?
The entire market had a slight drop today. Bitcoin slumped to a low of $26,760 after hitting a high of $28,803.
As Koinfinans.com reported, at the time of writing, BTC is trading at $27,574, down 2.22% daily.
Some speculation is that this is a graceful correction before a potential spike.