Bitcoin Price As BlackRock CEO Expects BTC Market Cap to Hit $50 Trillion

BlackRock’s third-quarter earnings call with analysts on Friday, CEO Larry Fink mentioned that Bitcoin (BTC) could be as big as the $50 trillion housing market. This forecast from the executive of the world’s largest asset manager is likely to have an impact on Bitcoin price.

Bitcoin Price If BTC Hits $50 Trillion According to BlackRock CEO

Although Larry Fink did not mention that Bitcoin will be as big as the Housing Market, he implied it using the mortgage market as an analogy. Fink said that the mortgage market also started slow when BlackRock ventured into it. However, as the asset manager built better infrastructure, data, and analytics, the stalling market exploded. To end this, Fink added that digital assets like Bitcoin are also stalling in a similar fashion and could explode.

BTC’s current market cap is $1.3 trillion, and if it hits the same size as the US housing market, which is worth $50 trillion, Bitcoin’s price could explode.

A simple calculation shows that $50 trillion is 38.46 times more than the current market cap of Bitcoin. If such a valuation were to come true, the current BTC price of $65,000 needs to inflate to $2.5 million.

If the BlackRock CEO’s analogy comes to pass and BTC market cap explodes to $50 trillion then Bitcoin price would be worth $2.5 million.

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