CryptoQuant CEO: Bitcoin breaking $1M is a matter of when not if

CEO of crypto data analytics firm CryptoQuant, Ki-Young Ju, stated via X that Bitcoin will surpass the market cap of gold when it reaches $1 million. He emphasized that in 2004, before the gold exchange-traded fund (ETF) was approved, the market cap of gold was $1 trillion, but now it is $17.8 trillion. Assuming the intrinsic value of gold is $1 trillion, $16.8 trillion represents the demand for gold as a safe haven asset and inflation hedge. The CryptoQuant CEO says that if Bitcoin’s current market cap is $2 trillion, and if gold demand shifts to Bitcoin, it can rise by 750%. Considering inflation, Bitcoin’s breakthrough of $1 million is not a matter of if, but when, he believes.