ShapeShift CEO: The cryptocurrency market will continue to expand, and the price of Bitcoin may exceed $10,000 in 2021

ShapeShift CEO predicts that the global cryptocurrency market value may increase 10 times in the next four years. In other words, if Bitcoin's market share can remain unchanged, the price of this old digital currency will exceed 1万美元in 2021.

Erik Voorhees predicts that the entire token market as an asset class has surpassed $30 billion in value and will exceed $300 billion in the next four years.

Asked which coin is most often used for purposes other than speculation, Voorhees pointed to Bitcoin, which he said “is able to send large amounts of money around the world at a lower cost and faster speed than through censored banking networks.”

Data from CoinMarketCap.com showed that the market value of all digital currencies was about $31.6 billion on Wednesday. At $1,300, Bitcoin's market share was only 66.3%.

Tipping Point

It is estimated that by the end of 2021, the number of Bitcoins in circulation is likely to be 19,031,250. If Bitcoin's market share remains at 66%, then Bitcoin's share of the $300 billion cryptocurrency market cap is $198 billion, so the price of a single Bitcoin is $10,403.

The World Economic Forum (WEF) believes that 2027 is a "tipping point" when 10% of global GDP (gross national product) will be stored on the blockchain - although during the WEF survey, respondents believed the exact date should be 2025.

Bitcoin's market value is about $20 billion, and WEF said the total value of Bitcoin in the blockchain is 0.025% of the world's GDP (80 trillion dollars). Unlike Voorhees, WEF does not believe that remittances are the most promising area for the token market. The international organization believes that in the next 4 to 10 years, the following areas will benefit the most from blockchain.

They include financial inclusion in emerging markets, as blockchain can provide critical financial services; the disintermediation of financial institutions, as new services and value transactions are conducted directly on the blockchain; and the explosion of tradable assets, “as all value transactions are directly handled by the blockchain.”