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Hugh Hendry, a renowned investor, has sparked excitement with his prediction that Bitcoin could triple in value, surpassing NVIDIA’s market capitalization. On a recent Yahoo Finance podcast, Hendry highlighted Bitcoin’s relatively small market cap of $1.3 trillion compared to gold at $16-17 trillion and US stocks at $40 trillion, suggesting significant growth potential for the cryptocurrency.
Hendry’s bullish outlook aligns with other experts and comes as Bitcoin shows signs of recovery, with its price up over 4%, crossing $66,300, and trading volume rising 11% to $31 billion. BTC Futures Open Interest has also soared nearly 6%, indicating robust market interest. This optimism is echoed by the growing demand for Bitcoin ETFs, reflecting increased institutional investment in the cryptocurrency.
Hendry emphasized the unique opportunity Bitcoin presents in an overvalued market, drawing parallels to undervalued stocks of the 1980s. He urged young investors to consider Bitcoin for substantial gains, reinforcing the positive sentiment around the flagship crypto’s future potential.
