Renowned Mexican billionaire Ricardo Salinas has made a bold prediction about Bitcoin's future, stating that the cryptocurrency will soon surpass the $16 trillion market value of gold. According to Salinas, Bitcoin ($BTC ) will need to increase in value approximately eight times its current worth to reach this milestone.
The Bullish Case for Bitcoin
Salinas' prediction is based on his observation that Bitcoin has become a global reserve asset, with its value constantly rising against gold. "Bitcoin is a new global reserve asset. It will surpass gold. This is the most important message to be taken from this speech," Salinas emphasized. With Bitcoin currently trading at around $104,750, Salinas believes that its total market value will reach $16 trillion, outpacing gold's value.
Why Salinas is Bullish on Bitcoin
Salinas' confidence in Bitcoin stems from its potential to revolutionize monetary systems worldwide. He highlights Bitcoin's accessibility, liquidity, and diversification benefits, considering its scarcity a major advantage. With only 21 million Bitcoins available, Salinas believes that its value will continue to rise. He also notes that Bitcoin often moves independently of traditional financial markets, safeguarding against systemic risks.
Salinas' Investment Portfolio
As evidence of his faith in Bitcoin, Salinas has allocated 70% of his liquid investment portfolio to Bitcoin-related assets, up from 10% in 2020. His portfolio also includes gold, gold mining company stakes, and shares in his own businesses. Salinas' bold move demonstrates his confidence in Bitcoin's potential for growth and wealth preservation.
Market Implications
While Salinas didn't provide an exact date for Bitcoin to surpass gold's market value, he emphasized that the trend is clear: "The value of gold against Bitcoin is constantly falling. This trend is clearly visible." As the cryptocurrency market continues to evolve, investors will be watching closely to see if Salinas' prediction comes to fruition.
Will Bitcoin's value indeed surpass gold's market value in the near future?
👉This is Not a financial advice.
