Hypothesizing Bitcoin’s $1 Trillion Market Cap Potential Could See Other Coins as a Store of Value
The cryptocurrency market keeps expanding in 2019 and experts are discussing which what will happen in the future. Now, the community is optimistic about the future of the space and how Bitcoin continues its growth path. There is an analyst that believes that Bitcoin could reach one trillion dollars market capitalization in the next bull run. This would have also a positive effect on other digital currencies in the market.
Expert Believes Bitcoin Could Reach $1 Trillion Market Cap
The CEMO of Bounty0x, Pascal Thellmann, believes that if Bitcoin reaches a multi-trillion dollar valuation it would clearly become a store of value. Moreover, the expert thinks that it would also help other digital currencies reach the status of a store of value. He believes that investors could hedge their risk with other altcoins.
According to Pascal, a coin could become a formidable hedge against Bitcoin (BTC). In order to do so, the digital currency would need to outperform the largest crypto in at least one of the main features and it would also need to have a technological advantage compared to Bitcoin.
It is important for a store of value to be able to be decentralized, to have a fixed monetary policy, and these currencies would also to take into account the cost of the network and the quality of its code.
At the moment, it seems that there is no hedge to Bitcoin in the market. Nonetheless, he believes hat Decred (DCR) could become a store of value in the future. He explained that it had a better of Cost of attack compared to Bitcoin and he has praised the consensus protocol that this digital currency has.
Now, Decred is the 31st largest digital currency in the market. It has a market cap of $250 million and each DCR can be purchased for $25.9. Meanwhile, Bitcoin remains the leader in the market with a price of $5580 and a market capitalization of $98.56 billion. In the last 24 hours, Bitcoin increased 5.18% the largest gains registered by any top 10 digital currency after Cardano (ADA).