In BlackRock’s third-quarter earnings call with analysts on Friday, CEO Larry Fink mentioned that Bitcoin (BTC) could be as big as the $50 trillion housing market. This forecast from the executive of the world’s largest asset manager is likely to have an impact on Bitcoin price.
Let’s explore how much BTC’s price could be worth if its market cap hits $50 trillion.
Bitcoin Price If BTC Hits $50 Trillion According to BlackRock CEO
Although Larry Fink did not mention that Bitcoin will be as big as the Housing Market, he implied it using the mortgage market as an analogy. Fink said that the mortgage market also started slow when BlackRock ventured into it. However, as the asset manager built better infrastructure, data, and analytics, the stalling market exploded. To end this, Fink added that digital assets like Bitcoin are also stalling in a similar fashion and could explode.
BTC’s current market cap is $1.3 trillion, and if it hits the same size as the US housing market, which is worth $50 trillion, Bitcoin’s price could explode.
A simple calculation shows that $50 trillion is 38.46 times more than the current market cap of Bitcoin. If such a valuation were to come true, the current BTC price of $65,000 needs to inflate to $2.5 million.
If the BlackRock CEO’s analogy comes to pass and BTC market cap explodes to $50 trillion then Bitcoin price would be worth $2.5 million.
Expert Analysts Forecast BTC Price Crash
Experts are suggesting that Bitcoin price is set to correct after a massive run up to $67,200 in the past week. This outlook is similar to CoinGape’s Monday article that showcased how Open Interest (OI) ceiling could trigger a correction for Bitcoin.
Popular analyst CredibleCrypto posted to his X that the last three local tops for Bitcoin displayed similar signs. At or around a potential top spot volume starts to decline while perpetual volume rises. This signal indicates that the spot holders are booking profits while futures volume is on an uptrend. This shows that futures traders are bullish, which can be seen in an increased OI and spike in perpetual volume.
In CredibleCrypto’s words, ”spot [investors are] selling off at these highs into supply while perps keep trying to long with extremely high OI buildup”
CredibleCrypto also added, ”I was very vocally bearish at both of those local tops because of the data that I shared below, and we are seeing the same data present itself once more.”
Regardless, the long-term Bitcoin price prediction hints at a bullish outlook with BTC potentially reaching the six-digit territory.
Frequently Asked Questions (FAQs)
Larry Fink predicted that Bitcoin’s market cap could potentially hit $50 trillion, comparable to the US housing market.What did BlackRock CEO Larry Fink predict about Bitcoin’s market cap? A: Larry Fink predicted that Bitcoin’s market cap could potentially hit $50 trillion, comparable to the US housing market.
According to calculations, if Bitcoin’s market cap reaches $50 trillion, its price could increase to approximately $2.5 million.
Yes, some experts, including CredibleCrypto, predict a short-term price correction for Bitcoin due to declining volume and rising open interest.
Akash Girimath
Akash Girimath, an engineer by training, has developed a deep fascination with the complexities of cryptocurrency markets. As a senior reporter and analyst, he specializes in crypto analysis and contributes his expertise to notable platforms such as AMBCrypto and FXStreet. In addition to his analytical work, Akash actively trades cryptocurrencies and manages a small crypto fund for friends and family. His role involves providing insightful market analysis and keeping readers informed about the latest trends in the crypto world. Follow Him on Youtube , X and LInkedIn
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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