Crypto investment firm Pantera Capital has revealed a pricing model for Bitcoin that places the world’s biggest crypto asset by market cap at staggering new levels.
In the company’s April letter to investors, Pantera notes that one of their models, which compares the amount of new Bitcoin users to the flagship crypto’s price, reveals a terminal price of $700,000.
According to the model, BTC’s price goes up by $200 for every 1 million new Bitcoin users. Pantera Capital says the model has been accurate every single time except in February 2016, when the price lagged.
Source: Pantera Capital
Should Bitcoin’s price continue to rise $200 every time a million users enter the market, the model suggests that BTC can surge nearly 1,200% from its current value of $54,000.
“3.5 billion people have a smartphone, the only requirement to use Bitcoin. In the long, long run – it’s not obvious why most of those won’t use bitcoin. That’s not many more