Bitcoin has been predicted to grow by 1100%

Tom Lee, managing partner and head of research at Fundstrat Global Advisors, predicts that bitcoin’s market capitalization could one day equal gold. He predicts that the market capitalization of BTC $65,691.66 Bitcoin -0.25% Market capitalization $1.3 trillion VOL. 24 hours $0.61 billion could grow by 1100%, reaching $ 16 trillion.

Lee believes that investors will increasingly turn to bitcoin as a more useful store of value than gold. Gold has industrial and jewelry applications, but its main value is protection against currency risks and disasters. Lee believes HTS is more stable and useful in such circumstances.

Bitcoin can be stored in a digital wallet, making it convenient to transport and use. Unlike gold, which is difficult to transport in large quantities, bitcoin can be carried in a wallet or simply by memorizing the address.

In addition, bitcoin has other uses, such as collateral. Over time, its use will expand, even if not for direct payments, but as a type of collateral.

As a reminder, a popular cryptocurrency analyst known as RLinda has suggested that the flagship crypto asset could reach a new all-time high of $ 90,000. She noted that both fundamental and technical prerequisites support further growth of the bitcoin price.