I give the following example so that you understand the large space for valuation that the crypto universe has. Since the approval of #Bitcoin ETFs, this has become a new category of investments. Institutional investors weight exposure by asset, that is, they invest in bonds, stocks, commodities and now cryptocurrencies, but they do not do so randomly. The investment depends on the risk profile of the portfolio they manage, with stocks and bonds being the majority of the weighting. Today, an asset that does not have a high weighting in portfolios such as Gold, has a market capitalization of 16t dollars, if we take this as the starting point of the analysis, and taking into account that #Bitcoin has a 50% control over the value of the crypto universe with a capitalization of 4t and that this control is maintained in the future, the fair price of #Bitcoin would be 4x from this point only weighting the 1% holding in traditional portfolios.

Today the crypto universe takes on daily relevance, it is possible that in a few years all portfolios will have some exposure, and if it does so in the weighting of risk assets, which should not exceed 5%, it is not unreasonable to think about a capitalization of 40t as market. In this case, and as Wall Street analysts say, 20t at #Bitcoin would be 670,000usd the bullish hypothesis. It will not happen overnight, but it will happen, with the short issuance, added to the percentage of bitcoins lost and the supply limit.