Bitcoin could be measured against the greats of the corporate world, given its growth potential.
To be a friend of Apple, Bitcoin should grow 10 times. A 60% boom would bring it closer to JPMorgan.
While Bitcoin is still on the scale of a midsize corporation, with a market capitalization of about $ 220 billion, various studies rate it as undervalued, and with enormous potential to grow as a safe haven asset. In the various growth scenarios, Bitcoin can challenge giants like Visa, Facebook and Apple in market value.
In the study on Bitcoin as an investment, published by CriptoNoticias on Monday, September 21, Ark Invest analyzed several strengths of bitcoin, including its conditions as a store of value asset or its anti-confiscation potential. When analyzing the scenarios of maximum development of these strengths, Ark Invest concluded that Bitcoin’s capitalization could reach between $ 3 trillion and $ 5 trillion in the next decade.
At the time of this writing, the price of bitcoin is fluctuating around $ 10,690, putting its market capitalization at $ 197 billion. This positions Bitcoin above the net worth of Jeff Bezos ($ 175 billion) and below the market value of JP Morgan ($ 284 billion).
In the following graph of Ecoinometrics, the value of Bitcoin is represented on a graphical scale. Each point represents the market capitalization of the companies, proportional in size. Next to each point is the approximate price that bitcoin would need to equal the value of the respective company.
It is appreciated then that it would be enough for bitcoin to slightly exceed its historical maximum to have the same weight in the market as Visa. If bitcoin doubles the all-time high of 2017, it would reach the value of Facebook, the main social network on the planet.
A more demanding goal would be to catch up with the company with the largest market capitalization today, Apple. For it, bitcoin would need to exceed $ 100,000, or 10 times its current value.
Comparisons can be extended to a larger domain. How much does bitcoin need to appreciate for the first cryptocurrency to reach the capitalization value of gold? About 47 times, as the price of BTC would have to go up to around half a million dollars to match the capitalization of gold.
Already CriptoNoticias had published an analysis by the Winklevoss brothers, in which they rightly compared bitcoin to gold and they found several advantages of the cryptocurrency with respect to that precious metal. The conclusion of the Winklevoss was the same: bitcoin has the strengths to challenge gold as a store of value and could match its capitalization if it reached a price of $ 500,000.