As the bitcoin hype continues to gather momentum, ETF Trends sat down with Gabor Gurbacs, Director of Digital Asset Strategy at VanEck (pictured above), to discuss bitcoin’s growth potential.
Gurbacs has extensive digital asset trading and market structure experience and he is well known in the digital asset community.
Prior to joining VanEck, Gurbacs was a George Soros Scholar, Edgar Bronfman fellow, serial entrepreneur, and holder of several new economy finance research positions at the Massachusetts Institute of Technology (MIT), Harvard, and Williams College. Gurbacs earned a BA from Williams College, triple majoring in Mathematics, German and Sociology.
What is Bitcoin’s growth potential?
If you view bitcoin as “digital gold” then there is tremendous growth potential. Gold’s market capitalization is about $8 Trillion, bitcoin is approaching $200 billion. In other words, if purely compared to gold’s total value, bitcoin might have as much as 40X more growth potential. If you compare bitcoin to M1, that is the total quantity of currency in circulation, bitcoin’s M1 is larger than the M1 of Mexico, Venezuela and Denmark. I’d be surprised if bitcoin would fully assume gold’s safe-haven role, but bitcoin could get to $1 trillion dollar market cap—compared to the $8 trillion market cap for gold—which is still up 4 to 5 times from here.