Since Bitcoin was able to smash through $20k and then even hit $24k, the king coin has been featured all over the mainstream media.
Also, all kinds of optimistic price predictions popped up in the crypto space, and today, we’re addressing a new one.
Mike Novogratz says BTC’s market cap will eclipse the one of Tesla
Galaxy Digital chief executive Mike Novogratz said that BTC’s market cap would be eclipsing Tesla’s by June 2021.
The head of the digital asset management firm took to Twitter to explain the reason for which he believes that Bitcoin’s market cap will be growing faster than the one of Tesla in the coming months.
$BTC will have a larger market cap than $TSLA within 6 months. Both are ‘religions’ though $TSLA has so much risk around @elonmusk while $BTC is owned and run by a giant decentralized community who is growing every day. It’s a risk management bet. Full disclosure I own 2 TSLAs
— Mike Novogratz (@novogratz) December 21, 2020
Someone said: “To be fair, I don’t think Elon Musk is a risk, I think his vision, determination and engagement with the public has been crucial in the achievements of the companies he has created.”
Another commenter on Twitter posted this: “As much as I love crypto, let’s remain realistic: especially regarding BTC: a huge portion of all BTC is owned by Chinese miners and whales – ownership is not as decentralized as it should be. ETH looks better in terms of decentralized ownership.”
The online publication the Daily Hodl mentioned another interview with Real Vision, during which Novogratz said that both Bitcoin and Tesla are part of a wide-scale bull market driven by low rates and rising growth.
“I was talking to one of – I will not name names, but one of the literally the top five legends in the investing world this morning. I said, I am worried about Airbnb up 120% on day one, Snowflake at 100 times revenue and I was talking to another friend, and he went from being worth $2 billion to $8 billion… and it really worries me,” he said.
At the moment of writing this article, BTC is trading in the red, and the coin is priced at $23,205.44.