Crypto-currencies like Bitcoin (BTC) and Ethereum have been recently taking the world by storm, and there are very little signs of slowing down. From Bitcoin’s current value of $2530, and based on one expert, Fundstrat’s Tom Lee, they estimate that the value per unit could range anywhere from $20,000 to $55,000 by 2022.
This might seem a bit absurd, but as the world moves into a new digital age where technology is pushing the boundaries for everything, this could possibly be the new substitute for gold.
This coupled with the fact that supply for bitcoin is close to its limit, might make it more compelling for those looking to turn profits in the crypto market. The scarcity of bitcoin, and the rate at which it is growing is even slower than gold, which could entail it to be a replacement, as it becomes increasingly attractive.
Another driver of the bitcoin could be from central banks if the total market cap hits $500 billion. The only deterrent as of now, is that there aren’t many ways to play bitcoin, other than a direct investment or the bitcoin ETF GBTC, but other opportunities are bound to come up in the future, especially with the rapid growth of bitcoin seen so far.