Mike McGlone, Bloomberg Intelligence’s senior commodity strategist, thinks Bitcoin is on its way to a $1 trillion market capitalization.
McGlone says on Twitter that mainstream adoption of BTC is rising and that $20,000 – Bitcoin’s all-time high – is the top obstacle on the way towards a trillion-dollar market cap.
According to McGlone’s chart, BTC will reach a market capitalization of $1 trillion between 2021 and 2022.
$20,000 #Bitcoin Is Primary Hurdle Toward $1 Trillion Market Cap —
The digital version of #gold but with more-limited supply and a history of adding zeros, appears to be in an early price-discovery stage and may simply continue its ascent in 2021. Mainstream adoption is rising.. pic.twitter.com/m4JSt5G09N
— Mike McGlone (@mikemcglone11) November 16, 2020
A report published by Bloomberg and McGlone earlier this month predicts Bitcoin could be gearing up for a parabolic run next year.
The report cites a number of factors in support