The founder and CEO of Ballet crypto, Bobby Lee has expressed his expectations for bitcoin and says that bitcoin is going to surpass gold in total market capitalization by the year 2028.
In a recent interview held on Monday, the former CEO of Bitcoin exchange BTCC has given his views on Bitcoin and gold. During the interview, he has shown his love for both gold and bitcoin. As he said during the interview:
I’m actually a big fan of gold. I don’t get to meet a lot of gold bugs, but I’m certainly one of them…That said, I’m an even bigger fan of Bitcoin. So compared to my gold holdings, my Bitcoin stash is worth even more than my gold stash.
During the interview, he made a comparison between gold and bitcoin. He said that though he is a big fan of gold still he thinks that bitcoin will overtake gold in the next nine years.
The physical gold is round about 180,000 tons and it’s market capitalization is almost $9 trillion while the total market cap of bitcoin at the present time is standing around $150 billion. So it will be a difficult task for bitcoin to take over gold in total market cap value.
At the beginning of this month, CEO Bobby Lee said that the flippening (which is the point at which the market cap of bitcoin would surpass that of gold) will happen in the next nine years.
#Gold is at about $8 trillion today, which is 50x the worth of #Bitcoin.
I predict the #flippening will happen within 9 years and $BTC will shoot up past USD $500,000.
And with all of the money printing that’s happening globally, $BTC will actually very likely be over $1 million! https://t.co/hbqGze38k5
— Bobby Lee – Ballet: Simple & Elegant Wallet (@bobbyclee) November 10, 2019
Bobby Lee said that Gold stands at $8 trillion which is 50 times greater than that of bitcoin market cap value. But during the interview, he said that he believes that bitcoin will skyrocket to $500,000 and take over the gold. As he said:
I truly believe the total value of Bitcoin – which is $160 billion today – will reach and eclipse the value of gold. That’s the true flippening.
During the interview, Lee also talked about the Libra project and Chinese influence. He said that the Chinese government is rapidly adopting the blockchain technology.