Goldman $100,000 BTC Prediction - The WAGMI Journal #55

Store of value combined with high-growth tech stocks potential.

Jan 05, 2022

In today’s issue:

The crypto market is slightly down with the global market cap sitting at ~$2.2-2.3 trillion. MINA and ICP are amongst the top performers in the past 24-h, once again further showing the market’s appetite for layer 1 tokens. Global markets are concerned with the sharp moves in Treasuries as well as weakness in the tech sectors.

In other news, Goldman stated the probability of $100,000 BTC, OpenSea got valued at $13 billion, and ex-CFTC Giancarlo proposed a way to unify crypto regulations.

We’re continually improving our content, please reach out if you have ideas or would like us to recap another segment of the market.

- Curated by Marco Manoppo (@manoppomarco)

📰Market News

⎆Goldman Says Bitcoin $100,000 a Possibility

Predicting that BTC will continue to gain market share from gold, Goldman stated that a price of $100,000 per BTC is a possibility. Hypothetically, if the market size for the store of value assets increases by 50% over the next 5 years, then it is likely for BTC price to go over $100,000.

⎆OpenSea Valued at $13.3B in $300M Funding Round

As the NFT craze continues into the new year, the number one marketplace for NFTs finished raising its $300M Series C at a $13.3 billion valuation. This valuation is close to a 9x increase compared to the OpenSea series B raise 6 months ago. The firm went from a valuation of $1.5 billion to $13.3 billion. In the next 12-24 months, I predict that OpenSea will still continue to grow but experience a similar issue that Coinbase is facing; competitors will continue to lower the ludicrous fees that these platforms charge.

⎆Ex-CFTC Giancarlo Proposes a Way to Unify Crypto Regulation

During a panel hosted by the American Enterprise Institute, ex-CFTC chairman Giancarlo proposed a method to unify crypto regulations in the US, sounding Coinbase’s proposal for a single regulator for crypto assets. Both the CFTC and SEC have been actively trying to increase their oversight over crypto assets. However, the existing frameworks are not directly applicable due to the extremely complex nature of crypto assets.

Share The WAGMI Journal

👨🏻‍💻Decentralized Finance (DeFi)

Grayscale Adds Flexa’s AMP to DeFi Fund, Removes BNT, UMA
Osmosis Lights Up the Market with 80% Run in Last 14 Days
Giancarlo Assails ‘Defensive and Reactionary’ Crypto Policy and Calls for Single U.S. Watchdog
Defi Kingdoms Reaches Record Activity Levels on Top of Metaverse Push