Bitcoin may reach $ 100,000 by 2021 if it continues to follow the golden rule of technology, according to Harvard

Bitcoin has been trading at record highs since Monday, but the criptomoeda may still be far from reaching its "ceiling." The world's leading crypto-currency has soared more than 465 percent since last year.

According to analysis by Dennis Porto, a Bitcoin investor and Harvard scholar, the price of bitcoin could reach $ 100,000 per coin if it continues to follow one of the "golden rules" of technology - Moore's law.

The rule, invented in 1965 by Intel co-founder Gordon Moore, describes the exponential improvements of digital technology.

Usually, however, the rule applies to the power or computing capabilities of a technology. This is the first time Porto has noticed that the price of a technology is following Moore's law.

According to Porto, since the creation of bitcoin, its price has doubled every eight months.

"This represents a unique opportunity for investors: Since it has been difficult to invest in circuits or accelerate the internet, it is easy to buy a bitcoin," Dennis said.

Dennis hopes this doubling trend can continue until bitcoin reaches mass adoption. Of course, another criptomoeda could usurp Bitcoin meanwhile.

In February 2021, Dennis believes he could be worth more than $ 100,000.

Via: BusinessInsider