According to Bobby Lee, Bitcoin (BTC) will outperform gold’s market capitalization and could ultimately be worth $1 million.
Lee: BTC market capitalization will exceed 8 trillion US dollars
The brother of Litecoin creator Charlie Lee expects the Bitcoin price to rise five to ten times compared to its previous high. The price will increase after another bubble like the crypto recession of 2018.
During an interview at the Malta AIBC Summit, Lee introduced the new Crypto-Wallet Ballet. Compared to other hardware, ballet is marketed as a simple and user-friendly wallet for beginners in the crypto industry. The digital format of Bitcoin and Altcoins is an obstacle to acceptance. For this reason, the ballet is also released as a physical non-electrical wallet with application integration.
Lee made his recommendation to new investors in crypto-assets, counting himself Bitcoin “Maximalist”. He also recommends all his friends and family to invest 1-2 percent of their net assets in BTC. According to Lee’s forecast, Bitcoin’s market capitalization was only a fraction of its trillion dollar potential and will grow exponentially after the next bubble:
“Bitcoin’s price is rising in waves. Any so-called bubble, any FOMO run, could inflate it ten or twenty times the previous high. So the price could easily exceed 100,000 or even 200,000 USD per Bitcoin…. So I definitely think it will increase a lot in the next five to ten years.”
Like many others, Lee justified his argument for Bitcoin’s success with the sinking supply by halving block rewards. Over the next ten years, the amount of Bitcoin spent on miners will be tripled in each block.