Strike’s CEO on Bitcoin’s Market Potential

Jack Mallers, the CEO of Bitcoin wallet and payments app Strike, believes Bitcoin’s market cap could increase dramatically.

In a recent interview with Anthony Pompliano during Bitcoin Investor Week in New York, Mallers highlighted Bitcoin as a competitive store of value asset alongside art and real estate.

> “Bitcoin’s product-market fit is in what people are calling store of value. Humans own about $900 trillion worth of stuff right now. That’s currency, real estate, art, collectibles, precious metals like gold – $900 trillion worth of stuff. It’s estimated that about half of that is monetized, meaning they own the stuff, they own the house, they own the art, they own the precious metal, not to consume it, not to live in the house, not to look at the art … but because they’re trying to store wealth. They’re trying to preserve value… That means the market opportunity to store wealth, store value … is about $400 trillion to $500 trillion.”

Mallers forecasts that Bitcoin will seize a larger share of the store of wealth market in the years to come.

> “So when people say, you know, can Bitcoin go higher than $100,000, the way I think about it is, right now Bitcoin’s about $1.5 trillion in market cap is going after a $400 trillion to $500 trillion opportunity… So I think Bitcoin still has a 400x to 500x left in it… I think Bitcoin is going to grow to hundreds of trillions dollars in market cap.”

At the time of writing, Bitcoin is trading at $80,964, showing a 3.3% decline over the last 24 hours.