Willy Woo, a Bitcoin advocate and Co-founder at CMCC Crest, has sparked off a discussion on Twitter claiming that Bitcoin brings hope to the younger generations. This was in response to Jesse Colombo, Director of Marketing at BullionStar, who pointed out that BTC dropped by 4% while gold and silver went up, calling it a risk asset like speculative technology stocks rather than a crisis hedge.
Nevertheless, Woo disputed his claim, insisting that most traditional “risk-off” assets don’t make people rich and essentially serve the interests of wealthier older generations as well as nation-states. On the other hand, he depicted Bitcoin as a guiding light for young people set for exponential growth similar to those early days of the internet.
Bitcoin ETF Approval Optimism: $91k To $650k Price Targets
In the midst of ongoing debates, Woo’s bullish stance has been enhanced by the recent approval of Bitcoin spot ETFs in Hong Kong. Woo anticipates significant price targets for BTC with $91K during bear market bottoms and an astonishing $650K at bull market tops when ETF investors will deploy their capital as expected by asset managers.
Though Woo sees these numbers as conservative, he still upholds the belief that Bitcoin can exceed the market cap value of gold, especially when institutional investment keeps flowing into cryptocurrencies. He makes his projections based on careful calculations covering aspects such as the historical performance of ETF-driven markets and asset manager allocations.
Woo’s calculations, though back-of-the-envelope, paint a compelling picture of Bitcoin’s trajectory. With an estimated $2 trillion allocation from asset managers into BTC, coupled with self-custody inflows not factored into the equation, the cryptocurrency’s market capitalization is poised to soar, potentially exceeding that of gold.
Woo views BTC’s trajectory as similar to gold’s monumental bull run after its ETF was approved. The rise of Bitcoin, fueled by institutional investors and increased acceptance in mainstream finance, could revolutionize old-fashioned ways of protecting wealth and investing.
Actually, Willy Woo’s perspective on Bitcoin is superior to mere speculation; rather, it involves a practical consideration of market dynamics and historical analogies. To him, it is more than just digital property: it represents optimism and empowerment among those who live in such an era where economic growth keeps changing, and one finds alternative ways through which the community can achieve financial prosperity.
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