Pi Network price remains in a clear downtrend following its initial listing gains on small exchanges. The struggle to secure a top-tier exchange listing has dropped the price of PI Coin by 80% in 69 days. Despite the crash, the future outlook witnesses a spark as Michael Saylor remarks a bright Bitcoin market cap target of $200 trillion.
Such a bullish viewpoint projects a strong possibility of a phoenix-like rise for projects like PI Network. So, how high will the price surge of the PI Coin price if Bitcoin hits a $200 trillion valuation?
Pi Network Price Implication if Bitcoin Market Cap Hits Saylor’s Target of $200T
Michael Saylor, Executive Chairman of MicroStrategy, ponders the possibility of Bitcoin achieving a $200 trillion market cap by 2045. This will position Bitcoin as a global settlement layer after a 100x increase from the current market cap of almost $2 trillion.
Based on PIScan, the current market cap of PI Network is $4.09 billion, securing a spot in the top 30 cryptocurrencies. If PI Network witnesses similar 100-fold growth, the bullish case targets a $409 billion valuation. This will pump the current price of PI Coin from $0.581 to $58.10.
If PI maintains its current market cap of $4.09 billion, a 100-fold increase in Bitcoin’s market cap could proportionally elevate PI’s market cap to $409 billion. With the circulating supply remaining constant, this would translate to a PI price of approximately $58.10.
An even more optimistic PI Network price prediction surfaces if it could reclaim its all-time high $13.4 billion valuation. In such a case, PI Network will reach a $1.34 trillion valuation and a $190 market price. This surpasses the current Ethereum valuation and is $600 million shy of the current Bitcoin market cap.
Such a mammoth rise in Bitcoin will impact the entire cryptocurrency market, as historically, BTC price jumps relate to altcoin market rises. Hence, in such a scenario, top altcoins other than PI Coin would witness a similar move.
Other Factors That May Affect Pi Coin Price In Near-Term
The key hurdle for PI Network to reinstate a positive trend remains the top-tier exchange listing, like Binance. Facing rejections due to its minimal utility, network upgrades and increased liquidity could open the gates to major listing gains.
Recently, Banxa, a payment platform, secured PI Network’s KYB approval, bringing PI Coin exposure to its users globally. This will boost the liquidity and bring real-world utility, increasing its listing chances.
Elsewhere, PI Network provides another real-world solution to Cube Motors, a well-known Florida car dealership. In a partnership with Pi Coin, the dealership will now accept Pi Coins as a legitimate payment for vehicles.
The PI Network utility expanded to real estate earlier this year. Zito Realty LLC, a Florida-based real estate firm, now accepts Pi Coin as a form of payment for property transactions.
Conclusion
In conclusion, if Saylor’s promising target of a $200 trillion valuation becomes a reality, altcoins like PI Network will skyrocket. Estimated valuations from $409 billion to $1.34 trillion could witness a price surge between $0.58 and $190.
Frequently Asked Questions (FAQs)
As of now, Pi Network holds a market cap of approximately $4.09 billion, with a trading price near $0.581.
If Bitcoin reaches $200T and Pi Network scales proportionally, PI price could surge to $58.10—or up to $190 in an optimistic scenario.
Key factors include a Binance listing, increased real-world utility, fiat on-ramps like Banxa, and rising adoption in auto and real estate sectors.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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