BNB has the potential to create a significant panic in the market value of prominent firms. The digital asset has surged in price, in the process leading its market cap to soar up and coming to a point where it could outpace tech giants such as Apple and Amazon.
But, the head of Binance Blockchain and exchange does not manifest that the aforementioned is just speculation. As the CEO believes that BNB will surpass the tech giants in no time and has
nothing to speculate.
Will Binance Coin market capitalization ever surpass $1 trillion?
Prominent Youtuber and Bitcoiner Davinci lead Chief Executive Officer to unveil the big news of him believing that BNB can become larger compared to Amazon and Apple because it is a crypto smart chain and a stock.
The CEO replied on Twitter saying, Binance coin cannot be considered as a stock. However, the other part of the Bitcoiner tweet is accurate.
If we take a deeper dive into the ongoing market statistic, the CEO’s statement does not add up.
At the time of reporting, Binance coin market capitalization is roughly $64.8b. This is in itself quite impressive. However, a significant difference compared to Amazon and Apple’s $1.63b and $2.09b market cap.
Cryptocurrencies are taking the international financial market by a storm
Currently, only Bitcoin has managed to hit the $1 trillion mark of market capitalization and, if the CEO wants his dream to become a reality, Binance coin needs its bulls to work extra time.
Regardless, there is plenty of reason to keep one’s head up. If we look at the history of cryptocurrencies, they have taken significantly less time to achieve a market cap than many assets, which took a significantly greater time.
Looking at Apple and Amazon, both of the tech giants took 42 and 24 years to reach $1 trillion of market cap. However, Bitcoin managed to do that same thing in 12 years. Similarly, altcoins have followed their bigger brother in the manner of disrupting prominent organizations in market capitalization in a lesser amount of time.
It is not a far fetched expectation of Binance coin to surpass $1 trillion given the immense success it is enjoying at the moment. Pair that with the CEO’s influence and other Binance firms such as Smart chain, BNB certainly achieves this massive feat.
CZ also expressed his opinion on the potential performance of cryptocurrencies compared to fiats in which he tweets about digital assets outperforming conventional assets in the last ten years, and the next ten years will be the same with crypto-assets outpacing conventional assets.