Chris Burniske: Bitcoin to reach $1 trillion dollar market cap by 2021

12 May, 2019
by Will Heasman
Chris Burniske: Bitcoin to reach $1 trillion dollar market cap by 2021

Making a bet on Bitcoin is nothing new and as the market rise, those predictions promise to come further to fruition. Now, Chris Burniske, founder of crypto venture capital, Placeholder, augurs that BTC may reach a market cap of $1 trillion before 2021.

Speaking at the Ethereal summit, Burniske suggested that Bitcoin could surge high enough to warrant a one trillion dollar market cap in the space of 2 years, with the wider crypto market at a total of $3 trillion by the end of the next bull run:

“If volatility halves, the bitcoin market cap could reach $1 trillion by 2021. All of crypto could reach $3 trillion by the next bull market,” Burniske said.

Ironically, despite the markets recent parabolic gains, Burniske refuses to believe that this is the bull run that will catalyze a move to these levels.

Burniske points to the massive $422 million raised by STOs in 2018, comparing this to the relatively small $22 million raised in 2017, noting that this increase went unnoticed.

For Burniske, ignorance to this “massive increase” suggests that investor sentiment is still majoritively bearish.

However, when this bull run does occur, Burniske states that he believes it will be the bull run to end all bull runs, bringing the market cap of the total industry to $3 billion, followed by relative stability in an end to cryptocurrencies trademark volatility.

Burniske isn’t alone. A bullish advocate of BTC, Tim Draper, stated last year that he expects Bitcoin to reach this figure ten times over, suggesting that Bitcoin could reach $10 trillion due to reduced use of fiat and a replacement by crypto:

“I estimate that fiat currencies will actually decrease in use, and that crypto will become as much as $100 trillion of that market. I expect Bitcoin to be about 10% of that market, or $10 trillion (current market cap 112 billion). There is a lot of room to grow there."

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