The resent up surge in the crypto space has been crazy to say the least. However, for those that have been following the space for a while, it is nothing new at all. The $50 billion market cap is about to be breach in the crypto space for the first time ever. While this may seem like a lot of capital, which for one person heck yay, in the big picture, this crypto market is a drop in the bucket.
Lets look at is this way. By some estimates the gold market is upwards of $7 trillions!(1 )
Yes, that 7 with 12 zero's behind it. So even at a $50 billion dollar market cap, the entire crypto space is less then 1 percent that of the market of gold. Now having said that, lets look what may happen in the near future.
This crypto technology thus far has all but proven itself to be a real and viable market assets.
Recently the dollar value of Btc , alone has double that of gold. I am willing to state that many deep deep pockets are really starting to look at this insane crypto thing with serious eyes. Why? GOLD.
Do not make the mistake in thinking that the super wealthy don't love gold. They do. It is an asset that has proven itself over thousands of years. At the same time publicly they are saying dump gold ,kill your gold position, ( which is meant for the unsophisticated investor), while many are super gold hoarders themselves. It is an old story involving an old game, which is still valid today.
So what does this have to do with the crypto space? Simple.
Do you know how much it cost to have gold? Gold cost much more then the spot price and the premiums that are attached. With gold, one Must protect it via storage.
And this storage is not cheap.(2) And if you want to take delivery of physical gold, transportation of said gold is more expensive still.
Cryptocurrency by comparison, has gold beat on both counts.
It is my assessment that those in the gold market will start to move a larger percentage of their gold positions in cryptocurrencies in the near future because of the benefits gained that were discussed earlier.
Keeping in mind gold is only one such market. Once the gold bugs move over in drove, I believe capital from other large markets will stampede towards the crypto space.
With all this in mind, it is very feasible to see the crypto space reaching upwards of a trillion dollar market cap in the not so far away future.
Of course this in flux of capital will only be a great thing for altcoins like Steemit.
1.http://onlygold.com/Info/All-The-Gold-In-The-World.asp
2.https://www.bullionvault.com/help/tariff.html