Binance CEO Changpeng Zhao Predicts $2 Trillion Market Cap For Bitcoin As Donald Trump Talks Trillion
March 26, 2020
Binance CEO Changpeng Zhao Predicts $2 Trillion Market Cap For Bitcoin As Donald Trump Talks Trillion
March 26, 2020

After Donald Trump, the President of the United States first mooted a $1 trillion stimulus package for the US economy in the wake of the coronavirus outbreak, people were shocked at what seemed like a gargantuan amount.

As it has been reported a few days later on March 25, a bipartisan deal has been agreed for twice that figure and it suddenly seems far more tangible. Changpeng Zhao (CZ), the CEO of Binance, tweeted that the new financial dialogue meant a $2 trillion market cap for Bitcoin could be considered “modest”.

However, the Federal Reserve and central banks around the world have started churning out fiat money in an attempt to prevent a deeper COVID-19-driven financial crash through quantitative easing.

Trillions are on the table, and Bitcoin has already seen price gains following the Fed’s suggestion that it could print an infinite amount of cash.

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According to CZ, Bitcoin rides this wave all the way to $100,000: 

“As we get used to talk about Trillions, a modest $2 trillion market cap of#bitcoin will put 1 BTC at $100,000. Not such a hard to imagine number now, right?”

CZ went on to explain that, because most Bitcoin is in the hands of HODLers and not for sale, only a small percentage of the $2 trillion US stimulus package would need to flow into Bitcoin in order to achieve an equivalent market cap.

Of course, CZ’s bullishness for Bitcoin is swiftly becoming a meme, and many of his Twitter followers responded that such a prediction could only be a sell signal.

Thus, with more dollars being printed by the day, Bitcoin’s limited supply may well be in its favor.

Source: cointelegraph.com | Image: coindesk.com


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Ishita Bora

Ishita Bora is a content creator at Digital Notice Media Labs. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. She is an archetypal writer, who loves to create her own little world with words and locutions. Apart from this, her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.
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