The CEO of Ballet Crypto, Bobby Lee, took to Twitter to predict the future of the bitcoin. He noted that the market cap of bitcoin in the next nine years would surpass the total market cap of gold. Currently, the market cap of gold is about $8 trillion, which is 50x of bitcoin. Lee thinks “flippening” will shot up the price of bitcoin past $500,000.
#Gold is at about $8 trillion today, which is 50x the worth of #Bitcoin.
I predict the #flippening will happen within 9 years and $BTC will shoot up past USD $500,000.
And with all of the money printing that’s happening globally, $BTC will actually very likely be over $1 million! https://t.co/hbqGze38k5
— Bobby Lee – Ballet: Simple & Elegant Wallet (@bobbyclee) November 10, 2019
The CEO of Balled Crypto, in his prediction, mentioned that the global inflationary policies over the period would likely lead the price of bitcoin to surpass a million-dollar mark.
Gold advocate Peter Schiff calls Lee’s prediction “nonsense.”
Euro Capital CEO and bitcoin cynic, Peter Schiff tweeted that the prediction made by Lee is nonsence. He wrote that predictions are like this that are actually taken seriously, that keeps the hodlers on board while the whales quietly abandon the ship. Peter Schiff is known in the crypto community for his cynical view of the leading cryptocurrency.
Bobby Lee is not the first one to make such predictions.
Earlier, Tyler Winklevoss, the founder of Gemini Trust, also predicted that Bitcoin would surpass gold’s market cap in the future. The founder of McAfee Associates, John McAfee, who is always surrounded by controversies, also predicted that the price of the leading cryptocurrency would reach 1 million dollar by the end of the next year.