The flagship cryptocurrency will live on for centuries! Bitcoin will always remain the leader of the crypto market! Such high praise for Bitcoin came from Willy Woo, a crypto analyst and co-founder of the CMCC Crest fund. He believes Bitcoin will become “the perfect asset for the next 1,000 years.” However, there was a caveat: BTC will not be able to compete with the US dollar and gold unless it attracts significantly more capital.

At present, Bitcoin’s market capitalization stands at $2.42 trillion, less than 11% of gold’s capitalization valued at $23 trillion. As for the dollar, its market capitalization is measured at $21.9 trillion.

According to Willy Woo, large corporations purchasing Bitcoin for long-term holding are helping to cement the first cryptocurrency’s position in the financial world. However, the debt structure of such companies remains poorly studied, meaning that Bitcoin on their balance sheets could “collapse,” causing people to lose their money. Woo believes this issue is also relevant for companies investing in altcoins, as they could create yet another bubble.

The world will not change until Bitcoin — essentially, the perfect asset for the next thousand years — can fulfill its monetary function. It must attract large capital. Only on this condition, the first cryptocurrency will gain enough weight to compete with the dollar and gold, the entrepreneur asserted.

In Woo’s opinion, indirect investments in cryptocurrency through spot exchange-traded funds (ETFs) tied to Bitcoin or through pension funds contribute to the large-scale concentration of digital coins in the hands of centralized entities. This creates the risk of government intervention in the crypto industry, he noted.

Investors with deep pockets prefer to enter the crypto market via spot Bitcoin ETFs or by buying shares of companies that accumulate BTC, such as Strategy. Pension funds rely on Coinbase Custody solutions, Willy Woo noted. In 2024, the expert predicted that Bitcoin could surge to a staggering $1 million within the next decade. However, he later revised his forecast, dashing hopes for the flagship asset’s “endless growth.”