Date: 09 June 2026
Extracted Insight:
- U.S. Tiger Research analyst Bo Pei values Bitcoin between $227,000 and $378,000 per coin, assuming it captures 15‑25% of gold’s total market value.
- The valuation uses an illustrative gold market capitalization of $31.8 trillion and Bitcoin’s fixed supply of 21 million coins.
- The macro backdrop includes global M2 expansion from roughly $23 trillion at Bitcoin’s launch to over $100 trillion, and the Congressional Budget Office projects U.S. federal debt rising from about 100% of GDP in 2025 to 156% by 2055 with deficits averaging 6.3% of GDP over the next 30 years.
- U.S. spot Bitcoin ETFs have broadened the buyer base; future adoption may come from registered investment advisors, model portfolios, retirement accounts, corporate treasuries, pensions, and sovereign wealth funds.
- The report warns Bitcoin remains volatile, vulnerable to macro deleveraging, regulatory divergence, quantum‑computing tail risk, and that mining security budgets will increasingly rely on durable blockspace demand as subsidies decline after future halvings.
- Bitcoin was trading around $61,700 at midday on the day of the report.
Relevance: Economic/Market-related
Potential Market Impact: Positive, Immediate/Short-Term