Bitcoin ‘Undervalued’ Until It Hits $7 Trillion Market Cap

If you think you’ve already missed bitcoin’s biggest price gains, think again. The Winklevoss Twins think bitcoin has plenty of room to run and is wildly undervalued at anything less than a $7 trillion market capitalization. For perspective, bitcoin’s current market cap is $229 billion.

Cameron and Tyler Winklevoss, who reportedly own 1 percent of all bitcoin outstanding, base their theory on BTC surprising the market cap of gold.

Bitcoin has long been considered “digital gold” or a store of value due to its scarce supply and lack of correlation to other market assets. But the digital gold narrative has strengthened throughout 2019.

Reference: https://www.ccn.com/news/bitcoin-undervalued-until-7-trillion-market-winklevoss/2019/07/10/

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