• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
crypto bitcoin market
Nexo

Fund Manager: Crypto Could Soon Rally 4,000% to a $10 Trillion Market Cap

Nick Chong by Nick Chong
2 years ago
in Bitcoin Price
0

Bitcoin and other top crypto assets are trading far from their all-time highs.

According to data from TradingView, BTC is trading more than 50% below its all-time high, while Ethereum is down nearly 85%. Most altcoins have registered even worst performances than the two market leaders, crushed as large players cashed out of the market during the 2017/2018 bubble.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Yet this hasn’t stopped investors from speculating where this nascent market could end up once the next market cycle peaks.

Crypto Could Hit $10 Trillion as Retail Money Floods In

According to Joseph Todaro — managing partner of crypto-centric fund Blocktown Capital — the crypto market’s capitalization could reach over $10 trillion in the next cycle as “retail money really starts flowing back in.”

$10 trillion is approximately 4,000% higher than the current aggregate value of digital assets at around $270 billion.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

When retail money really starts flowing back into crypto I wouldn't be surprised to see a $10T+ market top

— Joseph Todaro (@JosephTodaro_) June 10, 2020

In context, $10 trillion is a fair sum of value in the grand scheme of things.

Blockforce Capital chief executive Eric Ervin shared the chart below on June 9th, showing that the total market capitalization of the S&P 500 is $27.8 trillion.

At $10 trillion, crypto would be just over one-third of the current value of some of the most valuable companies in the world, including Apple, Microsoft, Facebook, and Amazon.

S&P 500 market cap to put crypto market cap into context
S&P 500 market capitalization chart shared by Blockforce Capital CEO Eric Ervin

$10 trillion is also around 50% of the U.S.’s national GDP in 2019 or around 10-12% of the global GDP.

Importantly, though, just because crypto’s market cap may reach $10 trillion may not mean that $10 trillion greenbacks have been deposited into Bitcoin exchanges.

Due to what is known as a fiat amplifier, which means that $1 worth of Bitcoin purchased may push up its market cap by more than $1, a $10 trillion industry may not be as hard to achieve as some may expect.

Gains Concentrated in Bitcoin

The expectation is that all cryptocurrencies will rally in the upcoming market cycle, but prominent names in the space expect the gains to be concentrated in Bitcoin.

Raoul Pal, chief executive of Real Vision and a former Goldman Sachs executive, has spoken on the matter on a number of occasions.

The investment veteran has said that he sees a world of cryptocurrency and blockchain as the future, but sees Bitcoin as the “call option” on that potential world coming to fruition. That’s to say, if cryptocurrencies go mainstream, BTC will likely be the one leading the charge.

“It is an entire trusted, verified, secure, financial and accounting system of digital value. […] It is nothing short of the future of our entire medium of exchange system, and of money itself and the platform on which it operates,” Pal wrote in a recent macro newsletter to his institutional investing subscribers.

Featured Image from Shutterstock
Price tags: btcusd, xbtusd, btcusdt
Fund Manager: Crypto Could Rally 4,000% to a $10 Trillion Market Cap
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for many years now. My pieces and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Related Posts

Bitcoin

Bitcoin Drops To $26K As Crypto Sell-Off Continues – Will The Slide Approach $25K?

1 week ago
Bitcoin price

Bitcoin Price Nosedives As Russian Missiles Strike Ukraine’s Cities

3 months ago
Crypto mining

Former Soviet Republic Is Primed For Crypto Mining, Despite Its Burgeoning Power Deficit

3 months ago
European Markets Regulator Urges The EU To Ban Proof-of-Work Bitcoin Mining

European Markets Regulator Urges The EU To Ban Proof-of-Work Bitcoin Mining

4 months ago
Bitcoin mining stocks, a coal mine

Bitcoin Mining Stocks Beat BTC Two-To-One in 2021 ROI

6 months ago
Price, The Bitcoinist Book Club logo

Bitcoinist Book Club: “The Bitcoin Standard” (Chapter 6, Part 1: Price)

10 months ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.