Analysts say Bitcoin will rise to $50,000 and surpass Apple in market value in five years

Sina Technology News reported on the evening of October 24th, Beijing time, that Ronnie Moas, founder of investment research institution Standpoint Research, said today that in the next five years, the market value of Bitcoin is expected to surpass that of Apple (hereinafter referred to as "Apple").

Although several investment banks have recently criticized Bitcoin, this did not stop the price of Bitcoin from hitting a new high last weekend. Today, another analyst said that its market value will surpass Apple in the next five years. As for the price, it is expected to reach $50,000 in the next ten years.

"People need to take Bitcoin seriously because its market value has surpassed that of Goldman Sachs," Moas told CNBC. "In the next five years, Bitcoin's market value will surpass that of Apple."

According to data from Bitcoin market website Coinmarketcap.com, as of today (Tuesday), the market value of Bitcoin (the total value of all circulating Bitcoins) has reached $95.9 billion, surpassing Goldman Sachs' $93.67 billion. Apple's current market value is approximately $806.65 billion.

Earlier this year, when the price of Bitcoin was still hovering around $2,600, Moas predicted that the price of Bitcoin would break through $5,000. Today, the price of Bitcoin is around $5,700.

Today, Moas has made another prediction: In the next ten years, the price of Bitcoin will reach $50,000 and its market value will reach $1 trillion.

Investment bank UBS said in a report last week that cryptocurrencies such as Bitcoin are currently caught in a "speculative bubble" and that they are unlikely to become mainstream currencies. (Li Ming)