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Bitwise Says Just a 5% Capital Rotation from Gold to Bitcoin Will Send BTC to $242,000

Elendu Benedict
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Bitwise Says Just a 5% Capital Rotation from Gold to Bitcoin Will Send BTC to $242,000

Bitwise recently shared that even a minute reallocation from gold to Bitcoin would more than double the cryptocurrency’s current price.

Notably, Bitcoin has recently played contrarian to gold, the largest asset in the world. The precious metal rallied further to a new all-time high on Monday, while the “digital gold” remains sidelined at the moment.

Nonetheless, Bitcoin’s appeal still stands, and the prospect that it would attract capital from gold investors is gaining momentum. Interestingly, a recent report from Bitwise has highlighted that capturing even a tiny fraction of gold’s market cap would send BTC to uncharted territories.

Impact of 5% Capital Rotation from Gold to Bitcoin

Bitwise Europe highlighted this point in its “chart of the week,” calculating its potential impact on the price of Bitcoin. The chart showed different percentage reallocations from gold to Bitcoin and the scenarios at the time of the report.

For context, Bitcoin traded at $107,240 at the time of the report. A 1% rotation of gold’s over $29 trillion market cap would take BTC to $134,270. Meanwhile, a 2% rotation further boosts the cryptocurrency’s price to $161,300.

For a 3% allocation, Bitcoin would rise further to $188,330, and a 4% reallocation would take the asset past $200,000 to precisely $215,360.

Interestingly, a 5% rotation from gold to Bitcoin would bring its price to $242,391, marking an over 2x, or 126%, increase from $107,240. Even at Bitcoin’s current price of $108,640, it still represents a 123% growth.

Bitcoin Price on Capital Rotation from Gold | Bitwise Europe
Bitcoin Price on Capital Rotation from Gold | Bitwise Europe

Remarkably, even the smallest percentage rotation would mark a new all-time high for Bitcoin. This represents the near and long-term potential of Bitcoin to record massive price increases as it matures as a digital alternative to gold.

Is a Rotation Possible?

Meanwhile, several commentaries have teased the prospect of Bitcoin demarketing gold. Analysts at CNBC dissected this possibility earlier in the month, asserting that Bitcoin will go much higher between now and the end of December.

The report highlighted the current decoupling between gold and Bitcoin, noting that the precious metal is usually the first mover. Furthermore, it expects BTC to start closing the wide gap, ensuring that gold consolidates while investors switch to benefit from the premier asset’s rally.

$3.6 trillion asset manager JP Morgan also highlights the sentiment that Bitcoin is undervalued against gold. The firm cited the volatility gap between both assets, predicting that BTC would rally to $165,000 to close it.

For Michael Saylor, Bitcoin would capture more than just a percentage but would outgrow gold. He predicted that the digital asset would grow 10x larger than gold, a development that would take Bitcoin to a valuation in the hundreds of trillions of dollars.

New Bitcoin Whales Now Facing Nearly $7B in Losses, the Largest Since Oct 2023

Sam Wisdom Raphael
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New Bitcoin Whales Now Facing Nearly $7B in Losses, the Largest Since Oct 2023

On-chain data indicates that new Bitcoin whales are now facing nearly $7 billion in losses, the largest since October 2023.

Notably, Bitcoin is still struggling to recover from the sharp drop it suffered on Oct. 10. Despite climbing back to retest the $110,000 mark, the world’s largest crypto asset remains about 13% below its all-time high of over $126,000, reached earlier this month. 

The recent slide has put pressure on large investors, as new data shows that a growing number of large whales are sitting on heavy unrealized losses.

New Bitcoin Whales Seeing Losses

Specifically, on-chain analytics firm CryptoQuant reported that newly formed whale wallets are now underwater. These wallets, which accumulated Bitcoin around recent highs, hold the asset at an average price of roughly $113,000. 

 

With Bitcoin currently trading at around $110,000, this group faces nearly $6.95 billion in unrealized losses, the largest seen since October 2023. Data from an accompanying chart confirms that this is the first time these short-term whales are seeing unrealized losses since November 2024.

Bitcoin Short-Term Whale Unrealized Profit/Loss CryptoQuant
Bitcoin Short-Term Whale Unrealized Profit/Loss | CryptoQuant

CryptoQuant added that these newer whales now hold about 45% of Bitcoin’s total whale realized cap, showing how much of the big-money market lies in this category. Interestingly, the chart confirms that earlier in the year, they held below 20%. 

Bitcoin Realized Cap Old vs New Whales CryptoQuant
Bitcoin Realized Cap Old vs New Whales | CryptoQuant

Still, many of these whales continue to buy more Bitcoin despite their paper losses. Notably, market analyst Crypto Patel noted that over 26,500 BTC recently moved into whale accumulation wallets. 

He explained that these transfers typically occur when fear dominates the market, a pattern that has often marked the early stages of accumulation before major rallies. Patel said this shows large investors are quietly adding to their holdings while most traders stay cautious.

Bitcoin in a Favorable Position

Meanwhile, amid the current market uncertainty, analyst Merlijn the Trader said this cycle looks very different from previous ones. In past bull runs, emotion and hype drove prices to new highs. 

Bitcoin 2W Chart Merlijn the Trader
Bitcoin 2W Chart | Merlijn the Trader

This time, structural factors, especially strong inflows from Bitcoin ETFs, are determining the market. Merlijn described the current phase as calm and deliberate, suggesting that big players are building positions early, as they prepare for what he called a major wave of institutional demand.

Also, data from Glassnode shows that leverage in the Bitcoin market has dropped sharply. The firm said open interest fell by about 30%, flushing out excess leveraged trades. 

With funding rates now close to neutral, the market looks more balanced and less exposed to another wave of forced liquidations. This reset could make the market healthier and less volatile in the short term.

Interestingly, market analyst Ted Pillows pointed out that Bitcoin is now testing a crucial support range between $107,000 and $108,000. He said that if this zone holds, the market could see a bounce. However, if Bitcoin falls below it, prices might slide toward $100,000 in the near term.

Coinbase Acquires Community Fundraising Platform Echo in $375 Million Deal

Zabi
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Coinbase Acquires Community Fundraising Platform Echo in $375 Million Deal

Coinbase Global has agreed to acquire Echo, a community fundraising platform for early-stage crypto projects.

According to The Wall Street Journal, the transaction is worth $375 million, to be paid through a mix of cash and stock. Echo founder Jordan Fish, better known online as Cobie, confirmed the sale on social platform X.

“I did not think Echo would be sold to Coinbase, but here we are,” he wrote, acknowledging the deal’s completion.

A $25 Million NFT Deal Preceded the Acquisition

The acquisition follows an earlier $25 million transaction between Coinbase and Cobie. As reported by The Crypto Basic, the exchange sent $25 million via USDC stablecoin to Cobie’s wallet to purchase and burn an NFT.

The move was part of an effort to revive Cobie’s UpOnly podcast, which had been inactive for years. This transfer, coming shortly before the acquisition announcement, drew attention from the crypto community and hinted at deeper collaboration between Cobie and Coinbase.

Echo’s Journey From Beta Launch to Major Exit

Echo launched in April 2024 as a beta platform to help online communities invest together in early-stage cryptocurrency and technology projects. Within just eight months, the platform facilitated 131 deals and raised over $51 million in capital.

Its first successful campaign funded Ethena, the team behind the USDe synthetic dollar protocol, a fast-growing stablecoin with yield.

In May 2025, Echo expanded its offerings with Sonar, a tool that allows founders to self-host public token sales on blockchains such as Cardano, Base, Hyperliquid, and Solana.

Integration Plans and Future Roadmap

Following the acquisition, Echo will remain an independent platform “for now,” according to Cobie. However, Coinbase plans to integrate Sonar into its ecosystem to expand investment opportunities.

Coinbase said the integration will enable direct, on-chain participation between projects and investors. Initially, Sonar will support crypto token sales, but Coinbase aims to expand into tokenized securities and real-world assets over time, using Echo’s infrastructure.

Sign of ICO Revival in New Form

The Echo acquisition highlights a broader shift in the crypto sector toward community-based fundraising. This approach echoes the dynamics of the Initial Coin Offering (ICO) boom in 2017.

A recent Tiger Research report, dated October 16, noted that public token sales are re-emerging in modern formats. Platforms such as Sonar, Legion, Buidlpad, and Kaito are leading this resurgence.

According to the report, the earlier ICO market collapsed due to fraud and a lack of transparency. However, new launchpads are offering more structured approaches, aiming to rebuild credibility while attracting early users and liquidity.

In parallel, some political figures have endorsed this comeback. In February, Zak Folkman, co-founder of World Liberty Financial, a venture linked to the Trump family, said, “We want to make ICOs great again.”

BlackRock Facilitates Over $3 Billion in Bitcoin-to-ETF Conversions for Whales

Lele Jima
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BlackRock Facilitates Over $3 Billion in Bitcoin-to-ETF Conversions for Whales

Large investors are increasingly converting their Bitcoin holdings into ETFs, with BlackRock alone facilitating over $3 billion worth of BTC-to-ETF conversions.

The move comes following the SEC’s approval of an in-kind transaction for Bitcoin ETFs. While this conversion is common with traditional ETFs, the SEC approved in-kind transactions for crypto-related funds in July.  

Following the approval, several large investors began exchanging their BTC holdings for ETF shares, without selling a single token. This process allows them to transfer their Bitcoin directly into an ETF in exchange for shares of the fund, instead of cash. 

BlackRock Facilitates Over $3B Conversion 

Since the SEC approved in-kind transactions for Bitcoin ETFs, BlackRock’s Head of Digital Assets Robbie Mitchnick confirmed that the firm has processed over $3 billion in Bitcoin-to-ETF conversions.

The world’s largest asset manager completed the conversion through its iShares Bitcoin Trust (IBIT), which recently surpassed an AUM of $100 billion. 

According to Mitchnick, large investors are waking up to the reality of being able to maintain their exposure to Bitcoin within their existing financial advisor. He suggested that conversions will spike significantly as regulatory clarity continues.

However, Mitchnick declined to comment on the exact number of conversions BlackRock has facilitated through its IBT ETF so far. 

Moreover, he pointed out that clients’ inquiries have spiked lately, with some investors seeking to convert only 20% of their Bitcoin holdings, while others are moving all their BTC holdings to ETFs. 

Bitwise and Galaxy Confirm Strong Interest in Bitcoin-to-ETF Conversions 

Besides BlackRock, asset manager Bitwise also confirmed that it is receiving daily inquiries from its wealthy clients regarding the conversion. Similarly, Galaxy has also helped some of its clients to process these Bitcoin-to-ETF conversions.

Despite converting BTC to shares of Bitcoin ETFs, investors will still maintain their underlying exposure to the apex cryptocurrency. With these shares stored in a brokerage account, investors can use them as collateral or even include them in an estate plan. These things are complicated for self-custodied Bitcoin. 

Indeed, interest in Bitcoin ETFs remains strong, with the products collectively recording $61.46 billion in inflows in less than two years. BlackRock’s IBIT ETF leads the pack, accounting for approximately $64.88 billion in inflows and boasting $88.92 billion in AUM as of October 20. 

Expert Says Evernorth Is Just 100% Bullish for XRP in Every Way

Abdulkarim Abdulwahab
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Expert Says Evernorth Is Just 100% Bullish for XRP in Every Way

XRP community figure Nietzbux has described Ripple-backed Evernorth Holdings as a “pure increase the price of XRP play.” 

To him, the initiative represents one of the strongest long-term signals yet for the asset. 

The remark comes amid excitement about Ripple’s expanding institutional ecosystem, which now includes Evernorth, GTreasury, Rail, and Hidden Road. These efforts aim to embed XRP into the fabric of global finance.

Evernorth: The Institutional XRP Treasury Engine

Launched this month, Evernorth Holdings Inc. announced a $1 billion merger with Armada Acquisition Corp II, which will see the firm listed on Nasdaq under the ticker XRPN. The company’s mission is simple but bold: to create the largest institutional XRP treasury ever.

The initiative has drawn support from Ripple’s major partners and investors, including Kraken, SBI Holdings, Pantera Capital, and Rippleworks. Ripple Chairman Chris Larsen has contributed roughly $120 million in XRP to the initiative.

Notably, former Ripple executive Asheesh Birla was appointed CEO of Evernorth. According to Nietzbux, the formation of Evernorth signals Ripple’s deliberate long-term approach to XRP and the XRP Ledger.

“Ripple is thinking long term about XRP, deploying top ex-employees to run it,” he wrote.

Why Hasn’t the Price Pumped — Yet?

Following Nietzbux’s post, one community member asked why XRP’s price didn’t immediately respond to the Evernorth news. In response, he clarified that the buying activity hasn’t started yet, noting it “won’t until next year.”

This suggests that Evernorth’s market impact will unfold gradually, as the firm begins open-market purchases of XRP throughout 2026.

Notably, part of the deal’s structure is that most proceeds will be dedicated to XRP accumulation. In other words, institutional demand could rise significantly once the treasury formation begins in earnest.

“Just 100% Bullish for XRP in Every Way”

In essence, Evernorth is not a short-term event but a multi-year liquidity strategy that could shape XRP’s long-term price and circulation supply. It could mirror MicroStrategy’s (Now Strategy) Bitcoin accumulation playbook, which has played a role in BTC’s surging prices.

For many in the community, Evernorth represents more than another Ripple partnership. They see it as an infrastructure-level play to strengthen XRP’s position in global finance.  As Nietzbux sums it up, “just 100% Bullish for XRP in every way.”

Ripple’s Strategic Expansion in 2025

Evernorth’s launch adds to Ripple’s string of major 2025 developments around institutional adoption. In April, Ripple acquired Hidden Road, a prime brokerage connected to the $11 trillion U.S. Treasury clearing market. 

Meanwhile, in August, Ripple acquired Rail for $200 million, giving it control over 10% of global stablecoin B2B payment flows.

Then, this month, Ripple bought GTreasury for $1 billion, marking its entry into the $120 trillion corporate treasury market. 

Each acquisition ties into a broader strategy, creating an integrated financial network whose backbone is XRP and Ripple’s stablecoin RLUSD.

Analyst Says the XRP Pump Will Catch Many Off Guard

Abdulkarim Abdulwahab
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0
Analyst Says the XRP Pump Will Catch Many Off Guard

XRP community figure Zach Rector believes that the token’s next rally will arrive unexpectedly, catching both skeptics and long-term holders by surprise.

He suggested the next pump could push the coin to a new all-time high, and many won’t see it coming. Rector shared this view in a tweet on Monday, amid a mild market recovery at the time when XRP briefly reclaimed $2.50. However, as of today, the coin is trading in the red again, dipping 3% to $2.40.

Meanwhile, the bullish comment stirred debate across the XRP community. The replies to the post highlight contrasting outlooks regarding the asset’s next move.

Notably, some expressed excitement about the long-overdue breakout. Supporters like Aragorn Invests responded with optimism, saying they were ready to be “caught off guard.” This suggests many holders remain confident in XRP’s potential, especially as institutional adoption deepens.

For these investors, XRP’s fundamentals and Ripple’s expanding list of global partnerships point to a strong setup for eventual price discovery.

Skeptics Say History Is Repeating Itself

However, many do not share Rector’s enthusiasm. Specifically, critics within the same thread pointed out that similar predictions have circulated for years without coming to fruition.

User Jason Hayden remarked that such claims have persisted for over half a decade, saying, “You’ve said this for 5 years and it still never hit its ATH.”

Another commenter, B. Connor, added a note of caution. He noted that XRP needs to reclaim $3 before new highs can even be considered. However, he warned that “all arrows are pointing down.”

Macro and Regulatory Factors Still in Play

Some community members linked XRP’s future performance to geopolitical and regulatory developments.

Posh Kitty suggested that progress on U.S.–China trade relations and the passing of the Clarity Act could influence XRP’s trajectory. At the same time, Kevin Quasar warned that renewed trade tensions could weigh on the market.

These comments suggest that XRP’s rise to new highs depends on various factors, not just bullish fundamentals. Earlier this month, the coin tanked to an 11-month low shortly after Trump’s tariff announcement and has not fully recovered since.

Bitcoin, the primary market driver, is also in bearish territory at the moment, weakening the prospect of an independent XRP price pump to a new all-time high.

XRP Long-Term Confidence Remains

Despite the mixed opinions, Rector’s conviction reinforces the popular belief among XRP loyalists that the asset’s next bull phase will emerge quickly — and when it does, it will surprise those who have written it off.

With Ripple expanding its footprint through partnerships in banking and cross-border settlements, the community remains hopeful that when the market turns, XRP will not just revisit its 2018 highs but push far beyond them.

Elon Musk’s SpaceX Moves $268M in Bitcoin Again

Zabi
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0
Elon Musk’s SpaceX Moves $268M in Bitcoin Again

SpaceX, the aerospace company led by Elon Musk, has carried out another major Bitcoin transfer, moving 2,395 BTC valued at approximately $268 million.

The on-chain movement, confirmed by blockchain analytics firm Arkham Intelligence, took place early Tuesday and involved two significant transactions.

According to Arkham’s data, 1,187 BTC were sent to wallet address bc1qq…4sduw, and 1,208 BTC to bc1qj…6kqef. Both receiving addresses remain inactive, showing no further activity since the transfer.

Second Major Bitcoin Movement in Three Months

Notably, this is the second large-scale Bitcoin transaction by SpaceX within a short span. In July 2025, the company moved around 1,300 BTC, worth $153 million at the time, from a wallet that had been dormant for nearly three years.

However, that earlier transfer was later linked to a Coinbase Prime Custody restructuring process rather than an asset sale. This pattern suggests that, once again, SpaceX is reshuffling its holdings internally, likely for security or compliance reasons.

While SpaceX has not issued a public comment, analysts interpret the latest move as part of a routine internal wallet reorganization. Institutional holders like SpaceX often transfer large sums between wallets to upgrade security layers, refresh multi-signature access, or transition to new cold storage setups. 

Such moves are common in institutional crypto management and typically indicate custodial maintenance, not trading activity.

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Timing Aligns With Bitcoin Price Volatility

The timing of the transaction coincides with a period of market volatility. Bitcoin recently dipped to around $107,000, with several large holders selling or shorting positions to limit exposure. Nevertheless, on-chain data confirms that SpaceX’s transferred Bitcoin remains untouched.

Musk-Linked Firms Hold Over $2 Billion in Bitcoin

Data from BitcoinTreasuries.net shows SpaceX currently holds 8,285 BTC, worth around $894 million at current prices. 

Combined with Tesla’s 11,509 BTC reserve, companies tied to Elon Musk collectively control nearly $2.13 billion in Bitcoin. 

This positions Musk’s ventures among the most prominent corporate Bitcoin holders worldwide, underscoring their continued commitment to digital assets even amid a turbulent market.

Shiba Inu Still Lives: Analyst Highlights Key Areas for Bearish Trend Reversal

Elendu Benedict
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Shiba Inu Still Lives: Analyst Highlights Key Areas for Bearish Trend Reversal

Prominent meme coin Shiba Inu has held a crucial support zone, sparking speculations of a bearish trend reversal to greater heights.

While Shiba Inu has been in a clear consolidatory phase, recent analysis suggests the token “still lives.” Notably, SHIB is down 4.3% in the past seven days, 20.3% over the last 30 days, and 52.7% since the start of the year, clearly indicating a downward trend.

Shiba Inu Holds Key Support

Nonetheless, pseudonymous analyst “ForexDremVantage” has insisted that all hope is not lost for Shiba Inu bulls. He shared that the meme coin has held a critical support zone around $0.000010. As a result, prices could still rebound.

Notably, several analysts have highlighted the importance of this level to Shiba Inu, with the consensus being that the token can target higher prices as long as it keeps holding. A particular commentary called this accumulation around the support since March “boring,” claiming that such action typically precedes an explosive move.

Key Level for Next SHIB Leg Up

Meanwhile, the latest commentary from ForexDremVantage emphasized that another demand zone lies around the $0.0000119 region. It also mentioned that while the support area is strong, it also has a large supply. As a result, bouncing to the area would require sufficient demand.

But the analyst predicted Shiba Inu would seek that support, which marks a 20% increase from the current market price of $0.00000992. He maintained that reclaiming the zone would mark a resumption of an upward push for SHIB.

However, this is just one of the several areas of potential selling pressure for Shiba Inu. Should the price start moving upwards, the next resistance point is the descending trendline, which has impeded higher prices for the meme coin since it dropped from May’s high of $0.00001765.

The accompanying chart shows that the trendline currently lies around $0.000013, representing a 31% growth from here. Breaking above the trendline would see Shiba Inu target the “trend reversal zone.”

Shiba Inu Crucial Zones
Shiba Inu Crucial Zones

This Zone Would Mark a Momentum Shift for Shiba Inu

Additionally, the market watcher highlighted an area that will shift momentum from bearish to bullish for Shiba Inu if it attains it. This trend reversal area lies at the May 12 peak price of $0.00001765, a 78% rise from here.

Breaking above the crucial resistance would confirm bullish momentum and pave the way for rallies to greater heights. Meanwhile, the chart also identified levels at $0.000020 and $0.000025 as subsequent targets if SHIB sustains the price rally.

Here is How High Cardano Could Soar if Ethereum Hits $20,000

Lele Jima
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Here is How High Cardano Could Soar if Ethereum Hits $20,000

Cardano price could clinch a new all-time high if Ethereum ever trades at a unit price of $20,000. 

The ongoing market downturn is still taking a significant toll on Cardano (ADA). As of press time, ADA has dropped 4.71% over the past 24 hours, mirroring the broader crypto market’s decline. It also shows a 30-day loss of 28.22% and a weekly dip of 4.47%.

Currently trading at $0.6419, ADA has declined 23.4% since the beginning of the year, making it one of the worst-performing assets among the top 10 cryptocurrencies by market cap. Despite this underperformance, investors remain optimistic that the token will rebound.

Several factors have been identified as potential drivers of Cardano’s growth, including increasing institutional interest in the token, as evidenced by Cardano ETF filings from Grayscale and Turtle Capital.

Cardano’s Correlation with Ethereum

Additionally, some community members believe that Cardano’s strong correlation with major assets like Ethereum could trigger a rally if those tokens experience significant price surges.

To put things into perspective, while Cardano has dropped 4.47% over the past week, Ethereum has dipped 4.38% in the same timeframe. Similarly, with Ethereum’s price soaring 43.26% over the past year, Cardano has seen more gains within this period, soaring nearly 75%.

This correlation has strengthened investor confidence that Cardano could experience a significant uptick if Ethereum undergoes a major rally.

Notably, Ethereum remains one of the best-performing cryptocurrencies this year, having reached a new all-time high alongside Bitcoin. Following Ethereum’s positive performance, market analyst Ted Pillows predicted that ETH could reach as high as $20,000 in this cycle, citing its potential to align with global money supply trends.

ChatGPT Predicts ADA Price If ETH Hits $20,000

To explore this possibility, we turned to the AI model ChatGPT to estimate ADA’s potential value if ETH reaches $20,000. The model first noted that Cardano’s current market capitalization of approximately $23 billion represents 4.9% of Ethereum’s $468 billion valuation.

Notably, a $20,000 price per ETH would raise Ethereum’s market cap to over $2.4 trillion. Based on this, ChatGPT projected ADA’s potential valuation under three different scenarios:

Conservative Scenario

In this scenario, ADA loses market share relative to Ethereum, dropping to 2% of Ethereum’s projected $2.4 trillion market cap. This would give Cardano a market cap of around $48 billion, resulting in a price of approximately $1.33 per token.

Baseline Scenario

Assuming ADA maintains its current 4.9% share of Ethereum’s market cap as ETH rises to $2.4 trillion, Cardano’s market cap would increase to about $117.6 billion. This translates to a token price of approximately $3.28, marking a new all-time high for ADA.

Bullish Scenario

In the most optimistic case, ChatGPT suggests ADA’s share of Ethereum’s market cap could rise to 10%, driven by ecosystem expansion and favorable market conditions. At this level, Cardano’s market cap would reach $240 billion, pushing the price to around $6.69 per token.

ChatGPT forecast for Cardano if Ethereum reaches $20,000
ChatGPT forecast for Cardano if Ethereum reaches $20,000

Ultimately, ChatGPT’s forecast illustrates that if Ethereum reaches $20,000, Cardano could experience substantial growth, potentially surpassing its previous highs, depending on how its market share evolves relative to Ethereum.

CZ Predicts BTC Will Flip Gold, Here’s How High XRP Could Reach If This Happens

Sam Wisdom Raphael
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CZ Predicts BTC Will Flip Gold, Here’s How High XRP Could Reach If This Happens

How could XRP price react if Bitcoin surpasses gold’s market cap as predicted by Binance co-founder Changpeng Zhao?

While Bitcoin (BTC) and the rest of the crypto market have faced prevalent uncertainties over the past two weeks, gold has been on an upward push, hitting new highs and proving why it has long been the go-to asset for investors looking to hedge against bearish macroeconomic conditions.

Changpeng Zhao Expects Bitcoin to Surpass Gold

Specifically, as BTC relinquished multiple support levels, including the pivotal $110,000 mark, gold soared to a new all-time high above $4,300 last week. This rally helped it achieve a $30 trillion market cap, becoming the first asset in the world to do so. 

After a brief pullback at the close of last week, gold soared again on Monday, Oct. 10, reaching a new ATH of $4,381. Today, the precious metal changes hands at $4,334 per ounce, boasting a market cap of $30.3 trillion at press time. 

While Bitcoin has struggled, Binance founder and former CEO Changpeng “CZ” Zhao believes the firstborn crypto would soon come for gold’s crown as the largest asset in the world. However, this would mark an extensive journey for Bitcoin. As a result, CZ confessed that he is not sure when this would materialize. According to him, it may take some time, but it will certainly happen.

Notably, with its current valuation sitting at $2.14 trillion, Bitcoin is over 14x smaller than gold despite being the largest crypto asset by a mile. For Bitcoin to surpass gold, its market cap would need to grow by 1,315% to the $30.3 trillion mark. Considering its circulating supply of 19.93 million tokens, this would translate to a Bitcoin price of $1.52 million per token.

Possible XRP Price if This Happens

Interestingly, if Bitcoin ever surpassed gold’s market cap, the impact could spill into the broader crypto market. Specifically, altcoins like XRP could see comparable rallies to new highs due to the close price correlation they share with Bitcoin.

For context, data from CoinMarketCap confirms that XRP and Bitcoin have moved alongside each other over the past month with slight deviations during the market crash. This shows how much XRP could follow in Bitcoin’s footsteps if the firstborn crypto hit $1.52 million to claim a $30.3 trillion market cap.

Bitcoin and XRP Price Correlation CoinMarketCap
Bitcoin and XRP Price Correlation | CoinMarketCap

Notably, with the current valuation of $2.14 trillion, Bitcoin currently boasts a market dominance of around 59.62%, as the broader crypto market cap sits at $3.61 trillion. If BTC maintains this dominance when its market cap reaches $30.3 trillion, the total crypto market cap would have risen to $50.84 trillion.

Meanwhile, XRP currently has a market dominance of 4.03%, as its market cap sits at $145.59 billion. If XRP maintains its 4.03% dominance when the broader crypto market cap hits $50.84 trillion, XRP’s market cap would rise to $2.04 trillion. Considering its circulating supply of 60 billion tokens, the $2.04 trillion valuation translates to a price of $34 per XRP.

However, it is not always this straightforward. Notably, even if Bitcoin does surpass gold, the rate at which the broader crypto market would grow remains uncertain. In addition, there is no guarantee XRP will rise at a comparable rate.

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