The Bitcoin market continues to generate quite a vibe within the crypto industry. Some people have even gone out of their way to make some pretty serious predictions for the Bitcoin market going deep into the future. One of the recent people to make such a prediction is Anthony Pompliano.
Pompliano is one of the most active members of the dynamic crypto space. He’s the co-founder of Morgan Creek Digital. He also writes lots of newsletters focusing on the economy, financial analysis, and cryptocurrencies. In a recent post on twitter, Pompliano predicted that Bitcoin’s market cap will exceed that of Gold by 31st December 2029.
What Gold Bugs Say
Truth be told, Pompliano’s prediction is a pretty audacious one and indicates the totality by which some of the top Bitcoin maximalists have thrown their weight behind the coin. On the other hand, there are Gold bugs who don’t seem to buy into such claims. People like Peter Schiff are totally opposed to Pomp’s prediction. Responding to the tweet, Peter Schiff seemed to claim that the BTC market cap would have seriously shrunk by 2029.
However, Peter’s sentiments may be overshadowed by the fact that a lot of the previously stubborn gold bugs have been jumping ship of late. Some have even gone all in to commit sizeable fractions of their investment portfolios in the crypto space.
The Bullish Case For Gold, Silver, And Bitcoin
While Gold and Bitcoin may be in the opening stages of a battle for future supremacy, it’s not lost on anyone that the two assets (along with Silver as the third) have pretty much been attractive to many people as safe havens at a time when the world economy is going through a crisis and a lot of fiat currency is getting hit by inflation.
Both Gold and Bitcoin have scored some gains in the recent past, and that’s a good indication.
Market Sentiments
There have been many posts and arguments fronted by various BTC fans and serious investors like Tim Draper and Tom Lee that Bitcoin is headed for astronomical heights.
Some have claimed that BTC could hit upwards of $250k within the next 5 years. At such a price, Bitcoin would be putting up a serious fight for supremacy against Gold. And who knows how high the crypto’s price could be by December 2029? Still, as it has always been with the crypto industry, the prediction will have to wait for 2029 for the results to be discerned.
