Bitcoin (BTC), the largest cryptocurrency in the market, could attract a large number of investors in the future. If just a small portion of the world economy enters the space, it may be possible for it to reach a market capitalization of $2 trillion. In a recent tweet, Changpeng Zhao the CEO of Binance explained that this market cap would push Bitcoin to $100,000.
Could Bitcoin Surge to $100,000?
Bitcoin and cryptocurrencies could receive support from the financial community if investors start entering the market. The United States’ senate has just reached a historic $2 trillion stimulus deal in order to fight against the Coronavirus and help the economy avoid a massive recession.
The U.S. Senate reached a bipartisan agreement that is going to be helping the U.S. economy in the coming months.
According to Changpeng Zhao, a $2 trillion market cap in Bitcoin could push the price of each BTC to $100,000. As he said, this does not seem a large number to reach in the coming months considering the stimulus packages that have been discussed in the U.S. and other countries.
He has also mentioned that considering that most BTC is not for sell, the market would need just a small portion of these funds in order to reach these levels.
On the matter, he commented:
“As we get used to talk about Trillions, a modest $2 trillion market cap of #bitcoin will put 1 BTC at $100,000. Not such a hard to imagine number now, right? As most BTC are not for sell (HODLers), we only need a small portion of that $2t to buy to reach it.”
Considering that Bitcoin and other virtual currencies have been affected by the Coronavirus outbreak and they lost part of their price, investors are again waiting for a recovery in the market. This would clearly help them recover part of the funds lost. At the same time, it would be necessary for investors in the market to turn bullish once again.
It is worth mentioning that Bitcoin fell from $10,500 to $3,800 in just a few days as the entire financial system fell down due to the effects the Coronavirus could have on the economy. Now is just a matter of time to see the stimulus packages in action.