Bitcoin is predicted to grow 10 times, to $ 300,000

John Deaton, the managing partner of the Deaton Law Firm and the lawyer representing XRP holders, shared his predictions about the future of bitcoin. Deaton is convinced that the BTC will rise to $ 300,000, which will be 10 times higher than its current value.

On his Twitter page, John Deaton asked his 276,000 followers if they believe that the market capitalization of BTC could one day reach half of the market capitalization of gold. The lawyer suggested that if this happens, the price of the flagship cryptocurrency will rise to $ 300,000.

Predicting that bitcoin could reach half of the precious metal’s capitalization, Deaton emphasized that the current market price is an attractive entry point for long-term investors.

The lawyer also named the reason why Larry Fink, CEO of the world’s largest asset management company BlackRock, has drastically changed his attitude towards bitcoin. According to Fink, his company’s official website has received more than 600,000 customer inquiries about BTC — it was the number of people interested in the token that prompted him to apply for the creation of a BTC exchange-traded fund. John Deaton emphasized that the more investors are interested in BTC, the more cryptocurrencies will grow.

At the end of last week, BTC reached an annual high of $ 31,400. According to many experts, the steady upward trend was driven by strong institutional interest in bitcoin. However, experts believe that it is too early to talk about a full-fledged bull run. Still, the unstable macroeconomic environment and regulatory issues are severely restraining the potential of buyers. Despite local successes, bitcoin is still far from its historical high, which was recorded in 2021 at $ 69,000.