Crypto investor and analyst Lark Davis believes Bitcoin is poised to reach a six-figure price as its fundamentals continue to grow at an exponential rate.
The digital asset analyst tells his nearly 400,000 Twitter followers that the flagship cryptocurrency will meteorically rise and exceed the price of half a million dollars in the coming years.
“Bitcoin will go on to rival the market cap of gold this decade. That is a 15X from the current price, which will give a per unit price of $550,000 per BTC.”
Advancing his arguments, Davis echoes the recent statement by Mexican billionaire Ricardo Salinas Pliego that the flagship crypto asset is the “gold for the internet era.”
Bitcoin is the new gold, the gold for internet era. One of the world’s richest men Ricardo Salinas Pliego agrees https://t.co/3DBHuwxCYr
— Lark Davis (@TheCryptoLark) June 28, 2021
The crypto analyst adds that some of Bitcoin’s advantages over gold include its scarcity and divisibility.
“Another mega important aspect is that Bitcoin has a verifiable and fixed max supply. For gold, there is no way to audit all the existing mined gold on earth, let alone the unfound gold on earth, and the total amount of gold in the universe…. which will be a lot…
Bitcoin can be divided into 100 million individual units with ease. That is 1.00000000. Gold, in theory, can be divided into tiny fractions, but unless you are carrying a bag of gold dust, this is hard to do. Standard units of gold are the ounce, which cannot be easily divided.”
Davis also highlights that he’s seeing widespread Bitcoin adoption as the leading cryptocurrency has an edge over gold in terms of use case.
“Bitcoin is increasing in adoption at an exponential rate. Merchants worldwide accept BTC and more are joining all the time. Gold is primarily a tool for investors, central banks and industry. Paying for things in gold is almost non-existent.”
While it may seem a bit late to hop on the Bitcoin bandwagon after it printed an all-time high of $64,000, the popular YouTuber emphasizes that BTC is still in its early days.
“Imagine being able to buy gold before it became worth a 10 trillion dollar market cap. That is Bitcoin now.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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