This is the real market value of Bitcoin
A major investor has shared the real market value of the digital currency Bitcoin. Read here how much it is and what it is based on.
We are talking about the founder of Skybridge Capital here. He says Bitcoin’s fair market value is about $40,000 based on wallet adoption, wallet size, usage scenarios, and wallet growth. The asset manager also estimated the fair market value of Ethereum at around $2,800.
Market Value Bitcoin
Anthony Scaramucci is the founder and managing partner at global asset management firm Skybridge Capital. He shared his company’s predictions about the fair market values of Bitcoin (BTC) and Ether (ETH) in an interview with Marketwatch. He believes that the worst of the crypto bear market is over. And that Bitcoin has already hit rock bottom. His comments followed bankruptcy filings by a number of crypto firms, including Celsius Network and Voyager Digital.
“We believe leverage has been blown out of the system,” Scaramucci said. While acknowledging that BTC could still fall, he emphasized, “I don’t think it’s going below the low reached for this cycle, which would be around $17,500.”
Reasons
The founder of Skybridge Capital went on to share: According to our fair market value metrics based on adoption, wallet size, use cases, wallet growth, we think the fair market value for Bitcoin is now around $40,000.
Scaramucci does not expect the price of Bitcoin to go straight up due to macroeconomic uncertainties. “Again, these are volatile assets. I think the issue here is that people need to have a four- to five-year view of these assets,” he warned. However, he thinks the price of the coin will reach $100K this year and $500K in the long run. “If you’re willing to zoom out and look at the long-term chart and look at the adoption story, could Bitcoin get half a million dollars a coin? I believe so,” he said in March.
Well, whether this is really going to come true… We have a hard head about it.
