Add as a preferred source on GoogleLeon Wankum Says Bitcoin Could Absorb Real Estate’s Monetary Value
He estimates global real estate is worth $300 trillion to $500 trillion and says monetary demand accounts for 80% to 90% of its value.
Real estate operator and author Leon Wankum says Bitcoin (BTC) could absorb monetary value now embedded in property prices, shifting some demand for wealth storage from buildings to a digital asset.
Wankum estimates the global property market is worth $300 trillion to $500 trillion. He contends that monetary demand, rather than the practical use of buildings, accounts for 80% to 90% of that value. He calls this extra monetary demand a monetary premium.
His base case puts Bitcoin’s value at $1 quadrillion. Wankum also projects a price of $1 million per coin by the late 2030s; both figures are his projections.
Wankum’s premise is that real estate took on a monetary role after 1971 and that this role can shift to Bitcoin. He compares the potential transition to the movement of information onto the internet.
Sonny Jang
ReporterSonny Jang reports on people and leadership in digital assets for TokenPost. Send corrections or tips to info@tokenpost.com.