Fund manager Alistair Milne pondered what to expect investors in 2021 and made some predictions for bitcoin. While Milne said these predictions might seem ridiculous at first glance, she said 2021 would be a crazy year and they could happen.
Bitcoin (BTC) broke the all-time price record to exceed $ 29,000 as it entered the new year. Alistair Milne, the founder of the investment fund Altana Digital Currency Fund, believes it could exceed $ 100,000 before 2021 ends.
Apple’s market value can be exceeded
The market cap of bitcoin surpassed those of names like Visa, Berkshire Hathaway in 2020. Alistair Milne announced that this year’s target is Apple. The investment expert said bitcoin could surpass Apple’s market value of $ 2.2 trillion before the year ends. Such a market cap would move the bitcoin price to over $ 100,000.
Developments that can move Bitcoin to $ 100,000
Milne thinks there will be a few developments this year that could raise bitcoin to these levels. The investor, who has been in the cryptocurrency world since 2014, believes that the following awaits bitcoin and the cryptocurrency world in 2021:
- SEC; Approve applications to establish a Bitcoin ETF (exchange traded fund) as a result of legal developments,
- Coinbase will be more valuable than General Motors (GM) after the IPO,
- A company (Tesla?) Listed in the S&P 500 will make an announcement within a few months and announce that it has purchased bitcoin
- One or more banks will announce that they have purchased bitcoin,
- A senior official working in organizations such as the IMF, the Fed, the European Central Bank will say that bitcoin harms fiscal policies, and this will lead to a drastic correction in the btc price.
- The use of Lightning Network (L2) will spread rapidly,
- Tether will reach a compromise with regulators in the USA and continue to grow,
- Big energy companies will use the extra electricity they generate to mine bitcoin