By the time this happens, Bitcoin’s market cap could reach $1.5 trillion.

Analysts predict that the Bitcoin (BTC) market cap will reach $1.5 trillion. Jurrien Timmer from Fidelity predicts that Bitcoin will soon occupy 25% of the non-industrial gold market.

Institutions and analysts have turned to higher bullishness in XRP, ETH and BTC, which, combined with ETF-fueled institutional demand, will increase the crypto market capitalization by at least $500 billion.

Why is the Bitcoin market cap increasing?

This week, Elon Musk echoed Warren Buffett's 2016 statement endorsing Bitcoin as a true currency. Buffett said in 2016 that time was important to him, not money.

‘Time is currency,' Musk replied, echoing anonymous writer Gigi's comment that Bitcoin's block height is a measure of time. Musk's tweet comes amid gloomy speculation about the future of Bitcoin. Recent increases in XRP, ETH and BTC prices have increased the cryptocurrency market capitalization to over $2 trillion.

“It is the time-keeping device that is changing our civilization today. The real key to the modern information age is the clock, not the machine. And this watch is Bitcoin,” Gigi wrote.

Read More: What is Market Capitalization? Why is it important in Crypto?

According to renowned analyst Kevin Svensson, Bitcoin may double depending on how closely it follows the recent trend. According to Svensson's analysis of the chain, the price of Bitcoin doubles the so-called ‘Base 3' price according to the parabolic crypto trading patterns seen in each cycle. At the beginning of this year, the value of the property reached 45,000 dollars in Base 3, which means that it is possible to get a price of 90,000 dollars.

How the BlackRock Spot Bitcoin ETF Coaxed Firms

Institutions that distanced themselves from bitcoin have now embraced it, some even arm-in-arm. JPMorgan, whose CEO called Bitcoin a pet rock, recently upgraded the stock of American kriptovalyutnogo Coinbase to neutral, arguing that after the approval of ETFs in place of the US Securities and Exchange Commission, the sustainability of Bitcoin's rally has been confirmed. Jurrien Timmer, Global Macro Director at Fidelity Investments, has recently offered a bullish take on Bitcoin taking market share of financial gold, that is, gold that is not used in jewelry or manufacturing.

“Based on the calculations in your previous threads, I estimate that Bitcoin will eventually take over a quarter of the monetary gold market. At 40%, monetary gold is currently worth about $6 trillion, Bitcoin is worth $1 trillion,” Timmer said.

Investment advisory firm Carson Group recently boarded four of 10 Bitcoin ETFs, including Fidelity's. Bitcoin ETFs from Fidelity and BlackRock are the largest, with BlackRock becoming the fifth largest ETF among all asset classes.

Read more: What is a Bitcoin ETF?

But Buffett, one of the world's most famous and successful investors, remains unconvinced. At Berkshire Hathaway's shareholder meeting last year, he told investors that bitcoin was worthless.

His comments echo recent criticism from the European Union. They said in a recent statement that Bitcoin cannot generate cash flow and investors cannot treat it as a commodity. BeenCrypto asked Berkshire Hathaway for their views on Bitcoin but did not hear back at press time.