How much if Bitcoin catches up to gold's market cap?…Calculations show $1.5 million

▲ Bitcoin (BTC) and Gold ©Go Dasol

Calculations show that if Bitcoin (BTC) grows into an asset worth $30 trillion, similar to gold, its price per coin could reach $1.5 million. Amidst JPMorgan discussing Bitcoin's potential to outperform gold and Eric Balchunas predicting that Bitcoin spot ETF assets could be three times that of gold ETFs, industry forecasts expecting $1 million to $1.5 million in the long term are once again gaining attention.

According to crypto media outlet Finbold on September 18 (local time), an analysis team led by Nikolaos Panigirtzoglou of JPMorgan predicted that Bitcoin could outperform gold if ETF hedge demand eases. Bloomberg ETF analyst Eric Balchunas also anticipated that Bitcoin ETF assets could be three times the size of gold ETFs.

The media outlet explained that with a simple calculation using gold's current market cap of $30 trillion and Bitcoin's supply of approximately 20 million coins, the price per Bitcoin would be $1.5 million when its market cap equals that of gold. This is the result of dividing $30 trillion by 20 million coins, and if this scenario materializes, Bitcoin's price increase would be approximately 1,900%.

Bitcoin breaking the $1 million mark has also been a long-term forecast presented by various industry figures. Binance founder Changpeng Zhao (CZ), MicroStrategy founder Michael Saylor, and ARK Invest CEO Cathie Wood, among others, have previously predicted that Bitcoin could reach $1 million to $1.5 million within the next 10 years.

Short-term market conditions are not as favorable as long-term forecasts. Bitcoin rose to $81,000 in late August and early September but later underwent a correction, falling to the $75,000 level after the U.S. Senate failed to pass the U.S. crypto market structure bill, the Clarity Act. Furthermore, concerns were raised that the Federal Reserve's 0.25 percentage point interest rate hike could place additional pressure on cryptocurrencies, which are considered risky assets.

Nevertheless, some experts predict that the cryptocurrency market will regain upward momentum by the end of this year. Bernstein analysts anticipated that Bitcoin would recover to $100,000 by the end of 2026. The media outlet forecasted that if Bitcoin reaches $100,000 again, there is a possibility of another bullish trend emerging across the broader cryptocurrency market.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*