Bitcoin to reach $50,000 by 2021, according to Scott Galloway’s famous forecast list
Along with Amazon, Airbnb, Peloton and Roblox, Bitcoin should be one of the highlights of 2021.
Reuter published a list of five forecasts for 2021 for the global socio-economic scenario and, at the same time, Scott Galloway, a professor at New York University’s Stern School of Business and a Section4 partner known for his usually accurate forecasts for 2021, including Bitcoin at $50,000.
Each year Scott makes forecasts for the following year. Last year he reached 8 and missed 4. His list for 2021 is as follows:
-For reasons of competition, Facebook shares will go up and Amazon will get rid of AWS.
– Airbnb will become bigger than the 5 biggest hotel chains and reach 200 dollars per share
– Apple acquires Peloton (Peloton is an American fitness equipment and media company founded in 2012 and launched with the help of a Kickstarter funding campaign in 2013)
– Shopify or Zoom will make great purchases
– Roblox will triple its value
– Investments in Edtech will be highlighted
– Walmart will make a strong entrance into the health sector through acquisitions
– Amazon will receive $100 billion from the top 10 U.S. health players.
– Robinhood will be the new villain of the technology sector (Robinhood is a financial education platform that has grown and has several financial services built in)
– Bitcoin to reach $50,000
– Disney will go up by 30%
During the year 2020, Bitcoin (BTC) impressed investors with cumulative returns of over 200%, but despite this figure, four shares outperformed the largest crypto currency, including another company included in Galloway’s forecast, Peloton (PTON), which outperformed BTC with an annual return of 384%. However, the company, which offers gymnastics classes online, has a capitalization of only $42.4 billion, far behind the assets.
BTC/USD vs TSLA, ZM, PTON, MRNA, ENPH. Source: Tradingview
Bitcoin at $50,000
According to Galloway, Bitcoin’s promoters believe that crypto Bitcoin Champion currency can restructure global finance and monetary policy. It is a potential protection against inflation, provides a safer haven for wealth in unstable economies, and its institutional acceptance and infrastructure continue to strengthen.
Global currencies have a massive value. The world’s gold supply is worth over $9 trillion, and over $19 trillion is held in US dollars. This value is migrating to Bitcoin – investors traded gold as Bitcoin performed strongly in its current rally and throughout 2020. At the moment, Bitcoin’s total supply is worth around $400bn.
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For Galloway, institutional interest will drive Bitcoin through this year and the $50,000 figure will be reached sometime in 2021.
The five Reuters forecasts
In addition to Scott Galloway’s predictions, Reuters also made its forecasts, including analyses that may indirectly impact investors in cryptosystems
Fall of the dollar’s hegemony
Emerging country currencies are once again attractive to investors
Central banks must maintain more flexible monetary policies and keep cheap money flowing
Investments in „green“ technologies and businesses must accelerate during the Biden administration and 2021 will be the milestone for this movement
Technology-based businesses should be encouraged by the Biden government, especially electric cars.