Willy Woo says Bitcoin will "easily" pass gold's $7.8 trillion market cap

02 Feb, 2019 | Updated: 02 Feb, 2019
by Richard Allen
Bitcoin
Willy Woo says Bitcoin will easily pass gold's $7.8 trillion market cap

Crypto researcher and analyst Willy Woo says Bitcoin will “easily” smash gold’s $7.8 trillion market cap. He attributes his prediction to Bitcoin’s scarcity and maximum supply of 21 million.

According to the Daily Hodl, Woo’s tweet mirrors that of crypto veteran Dan Held, who explained early last month that Bitcoin was primarily created as a store of value as opposed to a replacement for traditional payment mechanisms like Visa or PayPal.

Recently, venture capitalist and host of the Keiser Report, Max Keiser stated  stated that as digital cash, Bitcoin is “negligible,” but as digital gold, Bitcoin is “world-changing.” His statements come after reanalyzing Satoshi Nakamoto’s Bitcoin whitepaper, and concluding that “to really get Satoshi’s vision, Bitcoin is peer-to-peer gold.”

Additionally, Twitter CEO Jack Dorsey said during an interview with Joe Rogan that he believes the Internet will have its own cryptocurrency one day, adding that it could be Bitcoin.

  

 Read more: Is Bitcoin at $1 million really possible?

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Read more about: Bitcoin (BTC)

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