Independent research analyst predicts: Bitcoin will reach $300,000 to $400,000, becoming the world's most valuable currency

According to independent research analyst Rooney Moas, the price of Bitcoin will exceed $20,000 at this stage and will continue to rise.

“Since I made the prediction in July, bitcoin has gone up fivefold,” said Moas, founder of Miami-based Standpoint Research.

This summer, Moas predicted that Bitcoin would reach $5,000 by 2018. At the time, the price of a Bitcoin was $2,600. Since then, Bitcoin has skyrocketed, reaching $18,168 on Monday, according to Coinbase.

Moas told CNBC’s “The Rundown”:

“I think that eventually the price of a single bitcoin will reach $300,000 to $400,000 and become the most valuable currency in the world.”

The analyst’s comments come as CME, the world’s largest futures exchange, launches a Bitcoin futures contract product. Earlier this month, Cboe also launched a similar product.

Moas's aggressive statement about Bitcoin's $380,000 valuation comes from the fact that 21 million Bitcoins will always exist, and the rising demand for digital currencies will naturally drive up Bitcoin prices.

Moas said,

“I don’t know how much gold there is on earth, but I know how many bitcoins there are, and in the next two years, 300 million people will try to buy millions of bitcoins, and the incredible imbalance between supply and demand is the biggest driving force behind the price increase.”

Not everyone agrees with him.

Moas believes his outlook for Bitcoin is a conservative one, but some people aren’t buying it.

“We think bitcoin is too risky right now,” Vasumonong, vice chairman of OCBC Wealth Management in Singapore, told CNBC.

“I don’t see any fundamental drivers behind the surge in Bitcoin,” he added.

But Moas believes the carnival has just begun.

“I look at Bitcoin a lot like Amazon. Over the past 15 years, we should have bought Amazon stock, held it, and continued to add to it, which is exactly how I think people should treat Bitcoin.”