The financial director of the Japanese company Metaplanet, Dylan Leclair, said that the capitalization of bitcoin could reach $ 100 trillion if it is fully integrated into traditional capital markets and corporate reserves. Currently, Metaplanet holds 43,000 BTC in its balance. According to Leclair, the negative sentiment observed in the crypto market is a temporary phenomenon, and investors' concerns about a further decline in the quotes of the first cryptocurrency are exaggerated.

The top manager noted that the current correction of bitcoin is largely due to the specifics of financing companies using borrowed funds to purchase digital assets. In August, shares of organizations such as Metaplanet and Strategy declined in value more than the underlying asset itself. Leclair explained this dynamic by the structure of corporate debt and general market processes. The current situation is typical for periods of large-scale sales, accompanied by a decrease in excess leverage. In such circumstances, companies forming bitcoin reserves are under increased pressure, but after completing the debt reduction cycle, they have the potential for accelerated growth.

Leclair drew parallels with the bearish cycle of 2022, when the elimination of margin positions led to a reduction in speculative capital and formed the basis for the subsequent market recovery. He added that after exhausting the potential of sellers, bitcoin is able to demonstrate significant growth even in the absence of significant information reasons. In his opinion, the current market situation indicates signs of a local bottom formation. In the second quarter, corporate investors redistributed funds from bitcoin-related assets into shares of artificial intelligence companies, which created additional pressure. Leclair also pointed out that factors such as the development of quantum computing are overestimated by the market and do not have a fundamental impact on the asset. Earlier, Blockstream co-founder Adam Back admitted the possibility of bitcoin's capitalization growing to $ 200 trillion, linking this potential with the accumulation of assets by public companies.

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The material has been prepared solely for informational purposes and does not constitute financial advice or recommendation.