Bitcoin to Hit $5 trillion Market Cap by 2024, Crypto Fastest-Growing Asset

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Research from Luxembourg-based Forex Suggest thinks bitcoin could reach a market cap of $5.2 trillion by 2024, based on the average annual growth rate of 103.5% it has shown over the past four years.
According to Coinmarketcap, bitcoin currently has a market cap of $1.25 trillion and is priced at an all-time high of $66,519, up 3.9% in the past 24 hours.
The research compares bitcoin against traditional asset classes such as stocks and commodities, including high-flying tech stocks such as Apple, Tesla, Microsoft and ASML as well as gold and silver.
Over the last couple of years cryptocurrencies have become mainstream investments thanks to their strong upwards trajectory, with many choosing these over traditional assets. But, how does crypto really stack up against well-founded assets like gold, silver and the biggest companies in the world?
The researchers determined fastest-growing asset by looking at the average market capitalisation growth of gold, silver, top global companies alongside and leading cryptocurrencies, and then extrapolated from that data to forecast which shares, crypto and other assets were on track to be the best investments for the future.
In terms of best returns Solana comes in at No.1 with a 3,476% growth rate year to date. Solana (SOL), a Layer 1 blockchain that boast transactions per second of up to 50,000, is up 18% in the past 24 hours at $192.

The top 10 investments in 2024 according to projections:

The table below is projections of what the market cap of assets could look like by 2024, when analysing average annual growth rates from 2018 to 2021 thus far.

Rank

Asset

Asset Class

4 Year Average

Annual Growth Rate%

Projected Jan. 2022

Projected Jan. 2023

Projected Jan. 2024

1

ASML

Company

373.68%

$ 1.1T

$ 5.0T

$ 23.7T

2

Gold

Commodity

8.27%

$ 12.8T

$ 13.9T

$ 15.0T

3

Tesla

Company

115.01%

$ 1.6T

$ 3.5T

$7.6T

4

Apple

Company

34.97%

$ 3.2T

$ 4.2T

$ 5.9T

5

Bitcoin

Crypto

103.50%

$ 1.3T

$ 2.6T

$ 5.2T

6

Ethereum

Crypto

198.19%

$ 456.8B

$ 1.4T

$ 4.1T

7

Microsoft

Company

32.00%

$ 2.3T

$ 3.1T

$ 4.0T

8

Amazon

Company

26.35%

$ 2.1T

$ 2.6T

$ 3.3T

9

Toyota

Company

138.28%

$ 466.2B

$ 1.1T

$ 2.6T

10

Dai

Crypto

1040.38%

$ 18.9B

$ 215.1B

$ 2.5T

This only includes assets with data stretching back to 2018 that provide for sufficient analysis.
  • By 2024, three cryptocurrencies are on track to break into the top 10 best performing assets.

  • Bitcoin is projected to be the 5th strongest performing asset by 2024 with an estimated market value of over $5 trillion thanks to its 103.5% average annual growth rate. It would surpass long-standing giants including Microsoft, Amazon and Google by over $1 trillion. Bitcoin is currently dipping in and out of the top 10 highest value assets, but in just a few short years it could solidify its place.

  • Ethereum sits just behind with an even higher average annual growth rate of 198%, set to be the 6th strongest asset in 2024. With a projected $5.1 trillion valuation, it would equally outperform the current top dogs like Facebook and silver, and the recent NFT boom can only strengthen its growth.

  • The crypto with the third highest projected market cap is Dai, which could have a total value of $2.5 trillion. While it is much less well-known outside of the immediate crypto community, it has soared in value over the past few years with an astounding 1040.38% average growth rate since 2018.

According to Forex Suggest, crypto was the fastest-growing investment of 2021, with up Solana 3476% in 2021

Rank

Asset

Asset Class

Market Cap

31/01/2021

Market Cap 29/09/21

Growth

Jan 2021 – Sept 2021

1

Solana

Crypto

$ 1.2B

$ 41.2B

3476%

2

Polygon

Crypto

$ 187.9M

$ 5.6B

2859%

3

Terra

Crypto

$ 695.3M

$ 14.3B

1956%

4

Avalanche

Crypto

$ 996.5M

$ 14.5B

1357%

5

ASML

Company

$ 223.4B

$ 3.1T

1292%

6

Algorand

Crypto

$ 810.0M

$ 9.7B

1093%

7

Binance Coin

Crypto

$ 6.8B

$ 63.5B

827%

8

Binance USD

Crypto

$ 1.5B

$ 13.4B

801%

9

Ethereum Classic

Crypto

$ 868.1M

$ 6.1B

600%

10

Dogecoin

Crypto

$ 4.0B

$ 26.6B

563%

Apart from ASML, the top 10 fastest growing assets this year have all been cryptocurrencies.
  • Solana has been the strongest performing investment option of 2021 so far, with its market cap growing by 3,476% since January to over $41 billion by the end of September. Many investors are optimistic about Solana thanks to the incredible speed and efficiency of its blockchain technology.

  • The second biggest winner of 2021 is Polygon, with the market cap increasing by 2,859% this year, bringing the total value to just over $5.6 billion. Polygon is a platform for development and scaling on the Ethereum blockchain, and can therefore benefit from increased interest in Ethereum, and vice-versa.

  • In third place is the cryptocurrency Terra, which has seen its market cap grow by 1,956% in 2021. Terra uses stable coins, pegged to fiat currencies, to carry out cross-border payments efficiently and with low fees.

The full research is available here: https://forexsuggest.com/cryptocurrency-cap/

About Gary McFarlane PRO INVESTOR

Gary was the production editor for 15 years at highly regarded UK investment magazine Money Observer. He covered subjects as diverse as social trading and fixed income exchange traded funds. Gary initiated coverage of bitcoin and cryptocurrencies at Money Observer and for three years to July 2020 was the cryptocurrency analyst at the UK's No. 2 investment platform Interactive Investor. In that role he provided expert commentary to a diverse number of newspapers, and other media outlets, including the Daily Telegraph, Evening Standard and the Sun. Gary has also written widely on cryptocurrencies for various industry publications, such as Coin Desk and The FinTech Times, City AM, Ethereum World News, and InsideBitcoins. Gary is the winner of Cryptocurrency Writer of the Year in the 2018 ADVFN International Awards.