Hugh Hendry predicts Bitcoin’s value will triple and surpass NVIDIA’s market cap

Renowned investor Hugh Hendry’s prediction on Bitcoin has caused a lot of excitement. In a recent Yahoo Finance podcast, he predicted that the cryptocurrency’s value could triple and surpass the market capitalization of well-known technology company NVIDIA.

This positive outlook is in line with the views of other industry analysts and increases enthusiasm for the cryptocurrency’s long-term possibilities. Moreover, it comes during a strong recovery in BTC following its previous decline.

Hugh Hendry expressed his bullish prediction for BTC in a recent Yahoo Finance podcast, claiming that in a world where everything seems to be overvalued, the leading cryptocurrency stands out due to its very modest market cap.

“Bitcoin’s market cap is about $1.3 trillion,” he claimed, stressing that Bitcoin is relatively small compared to gold, which is worth $16-17 trillion, or U.S. stocks, which are worth a total of $40 trillion. Hendry emphasized the considerable potential for Bitcoin to experience significant growth compared to the 1980s, when stocks were cheap and not widely held.

At the same time, the renowned investor’s forecast is consistent with the cryptocurrency’s current recovery signs. He believes that the primary cryptocurrency offers a unique opportunity for significant gains in an overvalued market. If Bitcoin’s value were to triple, it would be equal to NVIDIA’s market capitalization. “This is not an impossible task,” he clarified.

Many investors looking for growth prospects in the Bitcoin industry have been attracted by Hugh Hendry’s positive outlook. In other words, Hugh Hendry’s positive perspective is in line with the opinions of other financial experts who foresee a promising future for BTC, according to Coingape.

The rising interest in BTC ETFs and increased market activity indicate strong demand for the leading cryptocurrency. The entry of more institutional investors into the market increases the likelihood of a significant price increase.

Furthermore, the current surge in investment in US Bitcoin ETFs underscores this pattern. Investors are attracted by the cryptocurrency’s potential for significant gains, especially in a market where conventional assets appear overpriced.

Hendry’s comments reinforce the notion that cryptocurrencies could see a significant upswing in the coming years. He stressed the importance for young investors to identify assets with significant growth potential, saying, “I need to make significant gains.” Which asset has the potential to triple its value? The currency in question is Bitcoin.

At the same time, Bitcoin price rose by more than 4%, crossing the $66,300 threshold at the time of writing. Its trading volume increased by 11% to $31 billion. The cryptocurrency has reached a minimum value of $63,246 in the last 24 hours. In addition, the open interest (OI) for BTC futures increased by about 6%, indicating increasing market interest in the leading cryptocurrency.

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