And JJG is of course correct when he says that this could as well take 50 or 100 years because it would indeed be positively ridiculous if bitcoin's market cap would overtake that of gold within 20 years of its existence, considering that gold has thousands of years of history to look back on.
When I mentioned 50-200 years, I was referring to bitcoin reaching 1,000x gold's market cap.
Bitcoin could reach parity with gold's market cap this cycle or next cycle.. that is a much easier target, and surely even bitcoin reaching parity with gold's market cap (which might be in the ballpark of $600k to $700k per BTC) is not even guaranteed to happen, but surely it is not impossible to do or even unrealistic in this cycle.. perhaps even greater than 10% odds for this cycle, just like there perhaps could be odds approaching 0.5% for BTC to reach $2 million this cycle..
Bitcoin hitting gold’s market cap can indeed be considered to be an ambitious target for Bitcoin, but absolutely not impossible, I trust in Bitcoin’s potential for growth in the long run. Gold’s market cap if I’m not mistaken should be around $7 to 8 trillion market cap and that means Bitcoin hitting around $600k to $700k per coin would enable Bitcoin to be able to tap in.
Although, while a lot of people may not really see the possibility of Bitcoin hitting such amount, I personally believe Bitcoin has the potential.
Some experts are bullish in their predictions, predicting $400k to $500k by 2025 while others are more cautious with their predictions. Nonetheless, either way, Bitcoin has all it takes as well as the potential for growth, particularly if institutional investments increases and more investors view and acknowledge Bitcoin as a store of value as this could particularly drive the demand of Bitcoin.
You’re absolutely right, while this is merely just a speculation, it still wouldn’t be seen as unrealistic or impossible for Bitcoin to hit such target in this cycle or even the next. If you feel the odds are 10% for this cycle, it could only mean the odds will surely be higher in the next cycle and makes it even more achievable. Well you just might never know what the future holds for Bitcoin.