Ronnie Moas, founder and director of Standpoint Research, and pretty successful Bitcoin predictor, has said that Bitcoin needs to be taken seriously as within five years it could reach $800 bln – more than tech giant Apple.
Moas called Bitcoin topping $5,000 “within months” of his July prediction – which it did. He has also sees it getting to $7,500 for the end of the year. And a little further on, he sees it reaching $20,000 per coin in three years.
But with the rate at which the digital currency is moving, Moas is now putting major tech company Apple in the headlights, stating that Bitcoin’s total market value could overtake Apple within five years.
Take it seriously
There have been many calls from institutionalised money movers to disregard Bitcoin, or even worse, to separate Blockchain technology from the digital currency.
However, Moas is calling for some serious consideration.
“People need to start taking this seriously because today Bitcoin caught up with Goldman Sachs,” Moas said. “Within five years, it’s going to catch Apple which has (a more than) $800 bln market cap.”
Bitcoin’s market value is about $95.9 bln, according to the website Coinmarketcap.com. Meanwhile, Thomson Reuters data showed Goldman Sachs had a value of $93.67 bln, and Apple’s market cap was at $806.65 bln.
As Bitcoin keeps steadily rising, it is attracting more and more hate from those who have other vested interests in the current global money market.
Previously, BlackRock CEO Larry Fink called the cryptocurrency “an index of money laundering,” while JPMorgan Chase CEO Jamie Dimon predicted if “you’re stupid enough to buy it, you’ll pay the price for it one day.”
Saudi billionaire investor Prince Alwaleed bin Talal said the cryptocurrency with no controlling body was an “Enron in the making.”
Moas said that the three prominent critics of Bitcoin were “heavily invested” in publicly-traded US banks that are currently being threatened by the cryptocurrency.
“I don’t expect those people to come out and recommend … to buy Bitcoin. Because that hurts their business,” he said.