Top Wealth Manager Predicts BTC To Be $8 Trillion Economy By 2030

According to a top wealth manager, Bitcoin is on a good road towards becoming a $8 trillion dollar asset by 2030. Andy Edstrom of the California-based WESCAP Group believes that cryptocurrency could take away a part of the capitalization from the leading markets.

This includes gold, shares, fiat, offshore assets, or demonetized store of values like real estates. He also added that investors would explore Bitcoin because of the new use cases as its technology grows in the next decade.

“Whether it’s micropayments or similar things enabled by [the] Lightning [Network] or it’s Abra or similar systems whereby you can get synthetic exposure to any asset in the world just by holding bitcoin as collateral. So there’s a lot of upsides,” he said in the Bitcoin news.

All of these statements came after a series of global media coverages called out Bitcoin for being the best investment of the decade ending 2019. This period also saw the cryptocurrency and its rate journeying from a few cents to a price of $7,100. Its valuation, on the other hand, surpassed the one of the US investment banking giant Goldman Sachs.

As it entered 2020, Bitcoin was among the leading gainers even so that global geopolitical and macroeconomic risks kept risk-on sentiments solid. The recent move uphill as the top wealth manager notes, is going to call it a new form of safe-asset which investors treated as insurance assets against gloomy macro conditions.

Nonetheless, the top wealth manager Edstrom said that Bitcoin’s major upside in the last decade came on the back of FOMO which is a backronym for Fear Of Missing Out. The former hedge fund investor cited this as a “hyper-bitcoinization” caused by the notorious initial coin offering (ICO) boom in late 2017. He added that FOMO could happen even in the next bullish cycle.

On top of this, the top wealth manager said that BTC could be measured against expansionary fiscal policies undertaken by governments and central banks from all around the globe.

“Either way, the investment thesis of bitcoin is good,” said Mr. Edstrom in today’s cryptonews.

All in all, Bitcoin is on a good road to a new all time high, especially because it is up by 50% in 2020 alone – promising a lot of bright things for the crypto ecosystem as a whole.