By extrapolating the thesis to Bitcoin, the expert offered a prediction for its valuation. Based on a decentralised mechanism, Bitcoin is denoted by BTC and aims to take control of money away from governments and huge organisations and give it to the people. Why Bitcoin Could Hit A $700K Price In The Next DecadeĬonversely, Apple’s price has increased by around 1457x, Timmer said, since 1996 with a 30x increase in its price-to-sales ratio. Bitcoin (BTC) is a digital or virtual currency based on a peer-to-peer network created in 2009 to become a viable replacement of conventional fiat currencies and payment systems. If Apple’s increase in market value should have been roughly the square of its growth in sales (53 to the power of 2), then we get an expected growth rate of 2855x for Apple’s market value. In that period, Apple’s market cap and valuation were expected to grow by 53x, but the company presents a 1699x increase surpassing expectations by a long margin. Apple CEO Tim Cook implied in an interview on November 9 that he personally owns bitcoin after he was asked the question at the DealBook conference. This principle states that the value of a telecommunications network is equivalent to two times its number of users.īy using this Law, Timmer deducted Apple’s estimated price and valuation from 1996 until today. These days everyones talking about Bitcoin, so why is it still so elusive as an investment Alex Tapscott, Key Opinion Leader in Bitcoin and Blockchain and. The Apple big boss reiterated, however, that his interest was from a personal point of view rather than a corporate one. Turrien arrived at this conclusion by comparing Bitcoin to big tech company Apple and its network growth by applying Metcalfe’s Law.
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