- Bitcoin to flip gold by 2028, says Bobby Lee, founder of BTCC, the world’s first bitcoin exchange.
- Stock to Flow model supports the prediction.
- A weak dollar may adversely affect bitcoin’s price point.
Bitcoin bull and CEO of BTC China, Bobby Lee, has thrown down his latest forecast, suggesting that bitcoin will flip gold’s market cap and find it a way to $500,000 by 2028.
The Gold Flippening
The bold claim came via a Tweetstorm earlier Sunday, where the crypto veteran rattled off several reasons for BTC flipping gold. Despite gold being 50x ahead of bitcoin with a market cap of $8 trillion, Lee believes that it’ll only take BTC 9 years to overtake. After flipping the precious metal, the bull posits that bitcoin will shoot up to $500,000, giving a proposed market cap of over $9 trillion.
Gold is at about $8 trillion today, which is 50x the worth of Bitcoin. I predict the #flippening will happen within 9 years and $BTC will shoot up past USD $500,000.
As if this wasn’t enough, Lee added an extra $500,000 to his forecast, indicating that global easing efforts would likely push BTC over the $1 million mark.
Of course, in his judgment, the cryptocurrency aficionado cited the upcoming BTC halving. For Lee — and a myriad of others — this quadrennial event is set to provide a massive upswing in the price of the digital currency.
Bobby Lee refers to bitcoin’s halving in his gold flipping prediction | Source: Twitter
Here, Lee refers to bitcoin’s reduced inflation following the bitcoin halving. Indeed, ostensibly implemented as monetary policy by bitcoin creator(s) Satoshi Nakamoto,