Against this, in an interview with The Street Crypto, David Bailey, CEO of BTC Inc, shared dimensions on how far it would take the bitcoin price with a spot ETF Bitcoin will boom.
Bitcoin has become the leading part of global finance, as a spot exchange-traded fund (ETF) looking likely to be launched in the U.S. is going to be driving its pricing higher and promising a tidal wave of institutional investment to come.
In order to look at the future of bitcoin and thus of the financial markets, Roundtable anchor Rob Nelson initiated the recent discussion that pointed to the dramatic change in stance from the BlackRock CEO from his earlier position to dismissing bitcoin as a mere “Ponzi scheme” to now imagining it as potentially the “most influential currency in the world.”
In Nelson’s words, “Such endorsements are clear: bitcoin is not just here to stay, it is going to become a part of our financial lifeblood.”
David Bailey, the CEO of BTC Inc, gave a bullish forecast for bitcoin in the future. Bailey went on to say that bitcoin is currently a $500 billion asset class and will continue to have great growth potential.
“Next bull-run just might see bitcoin valued at between $5 and $10 trillion.”
He added that he believes a spot bitcoin ETF will be a critical component to this rise. Bailey has also implied bitcoin’s perfect and seamless entry into the conventional financial system. “Imagine bitcoin having value equal to 50% of the U.S. GDP; it’s quite evident that its fluctuations are global.” In Bailey’s view, bear or bull markets for bitcoin would resonate around financial markets worldwide. Further contemplating the future of Bitcoin, Bailey shared his two cents about how the digital money will converge with the traditional financial systems.
“We’re in a very crucial stage where bitcoin is moving from its insular economy to real necessity within the broader financial system most will interact with on a daily basis,” he said. His opinion is what we are currently seeing as an appetizer for even more groundbreaking developments. The bank estimates that a reset on crypto in the U.S. will quadruple the market’s value in short order, with Bitcoin spiking to $200,000.
Standard Chartered came out with an exceptionally bright note on Friday around the near-term prospects of the crypto space, estimating that by the end of 2026, the assets in digital form are to be markets of $10 trillion from a rough $2.6 trillion.
“In percentage terms, we expect the next two years to offer much the same, again, as 2021,” reads a note the British bank sent out this week through Decrypt. “Very much like in 2021, much of which is already in place will see the rise in prices and newer subsectors emerge; this time, real-world use cases are finally poised to go mainstream.”
Increased analysis on previous estimates now sees Bitcoin getting $200,000 by the end of next year and Ethereum scaling beyond $10,000-mark, increased from current prices of approximately $76,500 and $2,950, respectively.
Much of this enthusiasm stems from Donald Trump’s decisive victory in Tuesday’s U.S. presidential election. Trump, who made a laundry list of crypto-related commitments on the campaign trail this year, looks increasingly likely to retake the White House armed with Republican majorities in the Senate and House.
Standard Chartered expects that Trump and his congressional allies will swiftly implement a number of measures that will unleash positive price action for numerous cryptocurrencies.
Such measures include repeal of SAB 121, which discourages banks from custodying crypto; stablecoin legislation; utter dismantling of the U.S. Securities and Exchange Commission (SEC’s) crypto crackdown; and the possibility of Trump setting up a strategic U.S. government Bitcoin reserve-though Standard Chartered thinks this has a “low probability” to happen, despite excitement among some Republicans and industry members.
“The new U.S. administration is likely to bring regulatory changes that are needed to drive the next leg of growth in digital assets,” Standard Chartered said.
Also, the bank expects some other new things to define the two years of crypto-ecosystem. For one, the bank considers that despite Bitcoin’s skyrocketing price, the top cryptocurrency might lose its dominance over the digital assets sector-from its current valuation at 60% of the entire crypto industry to just 40% by the end of 2026.
As it considers that real-world applications for utility tokens will start to create an ascent for altcoins, Standard Chartered predicts, flourished by the explosive development of altcoins’ valuation.
“The digital assets that are moored more to end uses are likely to do more in such an environment,” the bank wrote. “In particular, we expect Solana to outperform both BTC and ETH.”
Standard Chartered predicts that several application cases will push this trend immediately in the future for altcoins, including gaming, decentralized physical infrastructure (or DePIN), and on-chain consumer social products.
Donald Trump’s recent actions in the crypto world have got everyone buzzing, with some people saying that Bitcoin’s worth could suddenly be jumping to an unlikely $10 trillion. This crazy prediction is based on the thought that perhaps in Trump’s administration, Bitcoin will become a reserve asset and highly increase demand, making it even more valuable.
So what is this really about-the real basis of this lit prediction-and what does this mean for the potential of cryptocurrencies?
To put the actual gist together, let’s take a few steps back. Trump did really change the game with these latest picks and policy ideas. Not least among them is the proposed appointment of veteran lawyer Jonathan Gould, who brings much to the table in terms of old-school banking contacts and great knowhow when it comes to cryptocurrencies, to helm the Office of the Comptroller of the Currency (OCC). This agency tracks the national banks in the US, and Gould’s appointment has triggered excitement that he would keep on pushing innovations in the crypto space.
Another major appointment is that of Jonathan McKernan, a Republican who has served in the Federal Deposit Insurance Corporation (FDIC), now appointed to run the Consumer Financial Protection Bureau (CFPB). McKernan’s nomination has signaled that Trump’s approach to consumer protections may bend towards the side of enabling financial innovations that could turn huge wins for the cryptocurrency world.
A New Era for Bitcoin?
Standard Chartered believes that a reset on crypto in the US will quickly grow the value of the market by four times, with Bitcoin spiking to $200,000. An increase now from its current valuation, which is more than $2 trillion ¹.
Trump’s Team Loves Crypto
So, wrap it up, and trump makes his appointment of the folks who’ll be calling the shots on crypto and banking stuff. Jonathan Gould is the appointee, an attorney unbelievably savvy in both regular banking and the crypto world. Gould is soon to be nominated to lead the Office of the Comptroller of the Currency (OCC), an agency that watches over US national banks.
Is a Spot Bitcoin ETF Coming Soon?
David Bailey, who runs BTC Inc thinks a spot Bitcoin ETF could be a game-changer in Bitcoin growth terms. He is reasonably confident that in the next big bump, it could shoot up the value of Bitcoin as far as between $5 and $10 trillion.
So, what is up with this $10 trillion valuation chatter? It banks on the expectation that the Trump team might glance at Bitcoin as a reserve asset, which could increase demand markedly and thus drive its value higher. Some even claim the market could grow up to four times, with Bitcoin hitting the $200,000 milestone.
But let’s be realistic-this is all just pure speculation at this point, and nobody can begin to predict how the crypto scene will react to whatever Trump’s actions are. The reality is that this administration is diving deep into crypto regulations, which can radically change the landscape as a whole for the industry.
Senator Cynthia Lummis, who believes in Bitcoin, tweeted that Trump’s announcement was a “₿ig deal.” Maybe we will not see that $10 trillion dream for Bitcoin, but one thing is for sure: Trump’s move has everyone talking within the crypto scene once again and buzzing with excitement.
What’s Coming Up for Bitcoin?
So, what’s the deal with Bitcoin these days? Even though we’re all just guessing at what Trump’s next move could be, his transition team is really doing an impressive job of getting into the action of cryptocurrency regulation. With a group that seems pretty cool with crypto, things could be gearing up for a bumper jump in Bitcoin’s value.
