{"id":564339,"date":"2023-12-07T17:00:19","date_gmt":"2023-12-07T17:00:19","guid":{"rendered":"https:\/\/uniquehot.com\/?p=564339"},"modified":"2024-06-11T08:51:21","modified_gmt":"2024-06-11T08:51:21","slug":"bitcoin-worth-17-million","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-worth-17-million\/","title":{"rendered":"Crypto Pundit Reveals Why Bitcoin Is Worth As Much As $17 Million"},"content":{"rendered":"<p><span style=\"font-weight: 400\">A crypto pundit and Bitcoin maximalist, Mark Harvey, has explained why he believes the <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-short-term-holders-4-5-profits-nov-2021\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">foremost cryptocurrency Bitcoin<\/span><\/a><span style=\"font-weight: 400\">, is far off from its true potential. According to him, the crypto token could be worth close to $17 million in the future.\u00a0<\/span><\/p>\n<h2>Why One Bitcoin Could Worth $17 Million<\/h2>\n<p><span style=\"font-weight: 400\">In a <\/span><a href=\"https:\/\/x.com\/thepowerfulHRV\/status\/27742970?s=20\" rel=\"nofollow\"><span style=\"font-weight: 400\">post<\/span><\/a><span style=\"font-weight: 400\"> shared on his X (formerly Twitter) platform, Harvey made a strong case for Bitcoin on why it could on why a price even greater than $17 million is likely. He referred to Bitcoin\u2019s use case <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-as-a-store-of-value-comparing-with-gold-and-fiat-currencies\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">as a store of value<\/span><\/a><span style=\"font-weight: 400\"> and how it could further chop into the market share of other asset classes. He noted Bitcoin\u2019s \u201ctremendous upside\u201d despite being a relative newcomer.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/dogecoin\/dogecoin-price-pump-to-0-7\/\">Crypto Analyst Predicts Dogecoin Price Pump Of Epic Proportions To $0.7, Here\u2019s When<\/a><\/div>\n<p><span style=\"font-weight: 400\">Bitcoin is said to have 0.1% of the $871 trillion which are invested in global assets. Other global assets that hold a substantial market share include gold and silver, bonds, equities, real estate, and fiat money. Harvey believes that Bitcoin\u2019s price could rally significantly as the foremost cryptocurrency becomes the <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-price-all-time-countries\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">most preferred option<\/span><\/a><span style=\"font-weight: 400\"> for people to preserve their money.<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-564341 aligncenter\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Bitcoin-5.png?w=460&#038;resize=460%2C274\" alt=\"Bitcoin\" width=\"460\" height=\"274\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Bitcoin-5.png?w=512 512w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Bitcoin-5.png?w=460 460w\" sizes=\"(max-width: 460px) 100vw, 460px\"><\/p>\n<pre style=\"text-align: center\">Source: X<\/pre>\n<p><span style=\"font-weight: 400\">Harvey stated that the monetary premium of those global assets highlights how much they are used as a store of value. The crypto pundit asserts that Bitcoin <\/span><a href=\"https:\/\/bitcoinist.com\/new-study-says-ethereum-may-become-a-better-inflation-hedge-over-bitcoin\/#:~:text=Bitcoin's%20returns%20over%20the%20past,the%20best%20hedge%20for%20inflation.\" rel=\"nofollow\"><span style=\"font-weight: 400\">has the potential<\/span><\/a><span style=\"font-weight: 400\"> to capture the monetary premiums of other asset classes, which would see its price rise to $17 million with a market cap of $356.7 trillion.\u00a0<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-564342 aligncenter\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Bitcoin-1-1.png?w=460&#038;resize=460%2C249\" alt=\"Bitcoin 1\" width=\"460\" height=\"249\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Bitcoin-1-1.png?w=512 512w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Bitcoin-1-1.png?w=460 460w\" sizes=\"(max-width: 460px) 100vw, 460px\"><\/p>\n<pre style=\"text-align: center\">Source: X<\/pre>\n<p><span style=\"font-weight: 400\">In his opinion, this is very likely because <\/span><span style=\"font-weight: 400\">Bitcoin<\/span><span style=\"font-weight: 400\"> is a \u201csuperior form of property.\u201d If it does happen, the crypto token could also end up capturing 41% of the $871 trillion in global assets. Harvey also provided a more probable scenario as to Bitcoin\u2019s future price. He noted that the crypto token could still rise to as high as $415,000 per token if it captures 1% of global assets.<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-564343 aligncenter\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Bitcoin-2-1.png?w=460&#038;resize=460%2C342\" alt=\"Bitcoin 2\" width=\"460\" height=\"342\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Bitcoin-2-1.png?w=512 512w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Bitcoin-2-1.png?w=460 460w\" sizes=\"(max-width: 460px) 100vw, 460px\"><\/p>\n<pre style=\"text-align: center\">Source: X<\/pre>\n<h2>Is BTC Superior To Other Asset Classes?<\/h2>\n<p><span style=\"font-weight: 400\">Harvey labeled Bitcoin as a \u201csuperior form of property,\u201d and there is evidence to back up this assertion. As <\/span><a href=\"https:\/\/bitcoinist.com\/heres-why-bitcoin-exponential-gold-fidelity-exec\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">highlighted<\/span><\/a><span style=\"font-weight: 400\"> by the Director of Global Macro at Fidelity Investments, Jurrien Timmer, Bitcoin <\/span><a href=\"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-crypto-analyst-1900\/#:~:text=If%20that%20happens%2C%20Ethereum%20could,its%20current%20price%20of%20%241%2C600.\"><span style=\"font-weight: 400\">stands out <\/span><\/a><span style=\"font-weight: 400\">in comparison to other asset classes.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-pushes-extreme-greed\/\">Bitcoin Pushes Into Extreme Greed, What You Should Expect From Here<\/a><\/div>\n<pre style=\"text-align: center\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-564345 aligncenter\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Bitcoin-3-1.png?w=460&#038;resize=460%2C268\" alt=\"Bitcoin 3\" width=\"460\" height=\"268\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Bitcoin-3-1.png?w=512 512w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/Bitcoin-3-1.png?w=460 460w\" sizes=\"(max-width: 460px) 100vw, 460px\">Source: Fidelity Investments\r\n\r\n\r\n<\/pre>\n<p><span style=\"font-weight: 400\">According to data from Fidelity, the <\/span><a href=\"https:\/\/bitcoinist.com\/crypto-leaders-bitcoin-at-100000-by-2024\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">flagship cryptocurrency<\/span><\/a><span style=\"font-weight: 400\"> provided the best risk-reward with a 58% return from 2020 to this year. In terms of drawdowns and rallies, Bitcoin also stood out with an 84% gain from its 2-year low.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Meanwhile, a <\/span><a href=\"https:\/\/insights.glassnode.com\/the-week-onchain-week-49-2023\/#:~:text=Bitcoin%20continues%20to%20lead%20as,of%20the%20digital%20asset%20industry.\" rel=\"nofollow\"><span style=\"font-weight: 400\">recent report<\/span><\/a><span style=\"font-weight: 400\"> by Glassnode noted that Bitcoin continues to lead as one of the <\/span><a href=\"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-crypto-analyst-1900\/#:~:text=If%20that%20happens%2C%20Ethereum%20could,its%20current%20price%20of%20%241%2C600.\"><span style=\"font-weight: 400\">best-performing global assets<\/span><\/a><span style=\"font-weight: 400\">, with a gain of over 140% year to date (YTD). Specifically, Bitcoin has more than doubled in relation to Gold.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/h9TsknCM\/\" alt=\"Bitcoin price chart from Tradingview.com\" width=\"2650\" height=\"1530\"><\/p>\n<pre style=\"text-align: center\">BTC price remains above $43,000 | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">BTCUSD on Tradingview.com<\/a><\/pre>\n<p>Featured image from Coin Culture, chart from Tradingview.com<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A crypto pundit and Bitcoin maximalist, Mark Harvey, has explained why he believes the foremost cryptocurrency Bitcoin, is far off from its true potential. According to him, the crypto token could be worth close to $17 million in the future.\u00a0 Why One Bitcoin Could Worth $17 Million In a post shared on his X (formerly Twitter) platform, Harvey made a strong case for Bitcoin on why it could on why a price even greater than $17 million is likely. He referred to Bitcoin\u2019s use case as a store of value and how it could further chop into the market share of other asset classes. He noted Bitcoin\u2019s \u201ctremendous upside\u201d despite being a relative newcomer. Related Reading: Crypto Analyst Predicts Dogecoin Price Pump Of Epic Proportions To $0.7, Here\u2019s When Bitcoin is said to have 0.1% of the $871 trillion which are invested in global assets. Other global assets that hold a substantial market share include gold and silver, bonds, equities, real estate, and fiat money. Harvey believes that Bitcoin\u2019s price could rally significantly as the foremost cryptocurrency becomes the most preferred option for people to preserve their money. Source: X Harvey stated that the monetary premium of those global assets highlights how much they are used as a store of value. The crypto pundit asserts that Bitcoin has the potential to capture the monetary premiums of other asset classes, which would see its price rise to $17 million with a market cap of $356.7 trillion.\u00a0 Source: X In his opinion, this is very likely because Bitcoin is a \u201csuperior form of property.\u201d If it does happen, the crypto token could also end up capturing 41% of the $871 trillion in global assets. Harvey also provided a more probable scenario as to Bitcoin\u2019s future price. He noted that the crypto token could still rise to as high as $415,000 per token if it captures 1% of global assets. Source: X Is BTC Superior To Other Asset Classes? Harvey labeled Bitcoin as a \u201csuperior form of property,\u201d and there is evidence to back up this assertion. As highlighted by the Director of Global Macro at Fidelity Investments, Jurrien Timmer, Bitcoin stands out in comparison to other asset classes.\u00a0 Related Reading: Bitcoin Pushes Into Extreme Greed, What You Should Expect From Here Source: Fidelity Investments According to data from Fidelity, the flagship cryptocurrency provided the best risk-reward with a 58% return from 2020 to this year. In terms of drawdowns and rallies, Bitcoin also stood out with an 84% gain from its 2-year low. Meanwhile, a recent report by Glassnode noted that Bitcoin continues to lead as one of the best-performing global assets, with a gain of over 140% year to date (YTD). Specifically, Bitcoin has more than doubled in relation to Gold.\u00a0 BTC price remains above $43,000 | Source: BTCUSD on Tradingview.com Featured image from Coin Culture, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":564350,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,656,89185,1144,78790,6664,14690],"class_list":["post-564339","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-news","tag-btc-news","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-news"],"acf":[],"yoast_head":"\n<title>Crypto Pundit Reveals Why Bitcoin Is Worth As Much As $17 Million<\/title>\n<meta name=\"description\" content=\"A crypto pundit and Bitcoin maximalist, Mark Harvey, has explained why he believes Bitcoin is far 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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