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Over the last decade, Bitcoin has been considered one of the greatest inventions. Even though it began as a tech asset, BTC has gained significant mainstream attention, with prominent figures, large corporations, and even countries engaging the crypto king. BTC’s foray into the financial landscape was so monumental that Peter Thiel claims it broke the mold of society’s understanding.
Bitcoin Is Beyond Society’s Ability To Process
Bitcoin has experienced exponential growth since its inception, with many analysts calling it the biggest macro trade over the last 10 years. While it is believed that the Bitcoin story is still far from reaching its climax, Peter Thiel, a well-known billionaire and PayPal founder, has once again underscored the revolutionary power of the flagship cryptocurrency.
Trending Bitcoin on the social media platform X shared an interview where the billionaire evaluated the monumental introduction of BTC and its significance. In the interview, Thiel described BTC as an invention so massive that society has found it difficult to understand or process its implications.
The PayPal founder’s audacious statement suggests that the scale and transformative nature of Bitcoin go far beyond conventional banking, signifying a paradigm shift in the definition of freedom, trust, and value in the digital era.
BTC, in Thiel’s opinion, is likened to a Tax Stagnation, where the society finds it difficult to comprehend its implications. “I think Bitcoin was a big invention, and whether good or bad, it was a pretty big deal,” the founder added. His remarks emphasize not only Bitcoin’s function as an alternative asset but also its status as a social phenomenon that is upending established structures and changing the way people talk about money around the world.
According to the founder, BTC was systematically underestimated for at least the first 10 to 11 years and was available for trade within the time frame. Furthermore, the asset experienced a smooth upward move in the same time frame and did not get repriced all at once.
Given that Bitcoin’s inception was monumental in a world where nothing big ever happens, Thiel stated that society had no way of processing it. He further drew a comparison to the historical launch of the Internet in 1989.
While it was launched in 1989, the project gained significant global adoption only in 1999. After analyzing BTC’s impact in the financial sector today, Thiel claims that the crypto king is witnessing the same explosive growth and recognition as the Internet in 1999.
A $200 Trillion Market Cap For BTC
Big investors and large firms continue to double down on Bitcoin. Amid this wave of institutional adoption, Michael Saylor, the founder of Strategy, has outlined the potential for BTC’s market cap to skyrocket. During a presentation, Saylor predicted that the BTC market cap could rise from a $2 trillion value to $200 trillion, representing a 100x growth.
Although at this audacious market value, BTC will still be lower than equity, real estate, and bonds, the chairman claims it will remain noticeable. Saylor has declared that Bitcoin is the emerging global asset and digital gold, which is probably 100 times better than Gold.
BTC trading at $113,899 on the 1D chart | Source: BTCUSDT on Tradingview.com
Featured image from Pixabay, chart from Tradingview.com
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