The post Bitcoin can hit $740k as blockchain adoption still lags appeared on BitcoinEthereumNews.com.

Bitcoin’s market cap could hit $15 trillion if it reaches $740,000 per coin, Pantera CEO suggests, citing untapped blockchain adoption. Bitcoin’s (BTC) price could climb to $740,000 per coin within the next four years, driven by increasing technology adoption across the financial sector, Pantera Capital CEO Dan Morehead predicts, adding that blockchain remains largely untapped. In a note to investors, Morehead emphasized that 95% of financial wealth has yet to engage with the technology, describing the industry as being in the early stages of a “massive transformation.” “95% of financial wealth has not addressed blockchain. They are just beginning this massive transformation now. When they do, Bitcoin might be at something like $740,000/BTC.” Dan Morehead If Bitcoin were to reach the $740,000 mark, it would represent a market capitalization of $15 trillion, still modest compared to the $500 trillion in global financial assets, Morehead noted. While he acknowledged the unpredictability of future price trends, he outlined a potential trajectory where Bitcoin could hit this valuation as early as April 2028, though he cautioned that “it will take a few years longer.” Morehead highlighted Bitcoin’s historical growth, which has already seen three orders of magnitude in price increases, arguing that another such leap remains plausible. He framed Bitcoin and blockchain assets as having a uniquely compelling investment case, citing their high potential return relative to their risk profile. “The expected value of the trade is the most compelling I have seen in almost forty years of doing this,” Morehead says, expressing cautious optimism about the sector’s long-term prospects. As of press time, Bitcoin is trading at $93,192 after failing to surpass the $100,000 resistance level, with the price pulling back from its recent attempt to break through the key milestone. Source: https://crypto.news/pantera-capital-ceo-bitcoin-can-hit-740k-as-blockchain-adoption-still-lags/

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Filed under: News - @ November 27, 2024 7:29 am