A crypto pundit and Bitcoin maximalist, Mark Harvey, has defined why he believes the <\/span>foremost cryptocurrency Bitcoin<\/span><\/a>, is much off from its true potential. According to him, the crypto token might be value near $17 million sooner or later.\u00a0<\/span><\/p>\n In a <\/span>post<\/span><\/a> shared on his X (previously Twitter) platform, Harvey made a robust case for Bitcoin on why it might on why a value even better than $17 million is probably going. He referred to Bitcoin\u2019s use case <\/span>as a store of value<\/span><\/a> and the way it might additional chop into the market share of different asset courses. He famous Bitcoin\u2019s \u201ctremendous upside\u201d regardless of being a relative newcomer.<\/span><\/p>\n Bitcoin is claimed to have 0.1% of the $871 trillion that are invested in world property. Other world property that maintain a considerable market share embody gold and silver, bonds, equities, actual property, and fiat cash. Harvey believes that Bitcoin\u2019s value might rally considerably because the foremost cryptocurrency turns into the <\/span>most preferred option<\/span><\/a> for individuals to protect their cash.<\/span><\/p>\n Harvey said that the financial premium of these world property highlights how a lot they’re used as a retailer of worth. The crypto pundit asserts that Bitcoin <\/span>has the potential<\/span><\/a> to seize the financial premiums of different asset courses, which might see its value rise to $17 million with a market cap of $356.7 trillion.\u00a0<\/span><\/p>\n In his opinion, that is very probably as a result of <\/span>Bitcoin<\/span> is a \u201csuperior form of property.\u201d If it does occur, the crypto token might additionally find yourself capturing 41% of the $871 trillion in world property. Harvey additionally offered a extra possible situation as to Bitcoin\u2019s future value. He famous that the crypto token might nonetheless rise to as excessive as $415,000 per token if it captures 1% of world property.<\/span><\/p>\n Harvey labeled Bitcoin as a \u201csuperior form of property,\u201d and there’s proof to again up this assertion. As <\/span>highlighted<\/span><\/a> by the Director of Global Macro at Fidelity Investments, Jurrien Timmer, Bitcoin <\/span>stands out <\/span><\/a>compared to different asset courses.\u00a0<\/span><\/p>\n According to information from Fidelity, the <\/span>flagship cryptocurrency<\/span><\/a> offered the perfect risk-reward with a 58% return from 2020 to this yr. In phrases of drawdowns and rallies, Bitcoin additionally stood out with an 84% acquire from its 2-year low.<\/span><\/p>\n Meanwhile, a <\/span>recent report<\/span><\/a> by Glassnode famous that Bitcoin continues to steer as one of many <\/span>best-performing global assets<\/span><\/a>, with a acquire of over 140% yr so far (YTD). Specifically, Bitcoin has greater than doubled in relation to Gold.\u00a0<\/span><\/p>\n Featured picture from Coin Culture, chart from Tradingview.com<\/p>\n<\/p><\/div>\nWhy One Bitcoin Could Worth $17 Million<\/h2>\n
![\"Bitcoin\"](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/12\/Bitcoin-5.png?w=460&resize=460%2C274\")
<\/p>\nSource: X<\/pre>\n
![\"Bitcoin](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/12\/Bitcoin-1-1.png?w=460&resize=460%2C249\")
<\/p>\nSource: X<\/pre>\n
![\"Bitcoin](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/12\/Bitcoin-2-1.png?w=460&resize=460%2C342\")
<\/p>\nSource: X<\/pre>\n
Is BTC Superior To Other Asset Classes?<\/h2>\n
![\"Bitcoin](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/12\/Bitcoin-3-1.png?w=460&resize=460%2C268\")
Source: Fidelity Investments
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BTC value stays above $43,000 | Source: BTCUSD on Tradingview.com<\/a><\/pre>\n