Could bitcoins market cap surpass golds market cap in 2024

Who else believes that, a few months after the halving, the market capitalization of bitcoin could surpass that of gold?

The combination of the halving and the spot ETF, which is expected to start in 2024 will be the strongest bullishness that bitcoin has ever encountered. It would not surprise me in the slightest if we began to hear about countries purchasing significant quantities of bitcoin for their sovereign wealth funds, further countries allowing bitcoin as legal cash, and more large firms purchasing bitcoin for their balance sheets at the same time.

All of this might occur in the first half of 2024, and by the middle of the year, I believe bitcoin will have surpassed the market capitalization of gold.

That would be more than a 10x rise over the next six months.

While I’m not predicting it will happen, the possibility that this cycle could break the diminishing returns theory and surpass the market cap of gold is real. If Bitcoin reaches $200k, many gold investors might switch to Bitcoin, causing gold’s market cap to decline as Bitcoin rises until they converge. This convergence is inevitable in the long term, even if it doesn’t happen this cycle.

There’s enough information available to reasonably deduce that this shift will occur quickly once it begins. With the upcoming halving, the expected increase in demand over the next 12 months, combined with a decrease in supply, could propel Bitcoin upward at an incredible pace.

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While the idea of Bitcoin surpassing gold in market capitalization within the next six months seems ambitious, I do believe it’s a distinct possibility given the current financial landscape. The combination of the halving event and the potential introduction of a spot ETF in 2024 could indeed spark significant bullish momentum for Bitcoin.

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If countries begin to allocate portions of their sovereign wealth funds to Bitcoin, and more jurisdictions recognize it as legal tender, alongside large corporations adding it to their balance sheets, we could witness a rapid acceleration in adoption and value appreciation. This scenario could propel Bitcoin’s market cap to surpass that of gold by mid-2024, marking a transformative moment in the financial markets and solidifying Bitcoin’s role as a major asset class.

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