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Bitcoin Gains Spark Bullish Call of ‘$15T Asset;’ BTC Forks Jump
One bull said bitcoin is “more valuable than gold” and will become a $15 trillion asset.
Updated Oct 16, 2023, 10:14 a.m. Published Oct 16, 2023, 10:00 a.m.
Bitcoin neared the $28,000 mark early Monday before retreating as crypto bulls seemed to bet on hopes of a major spot bitcoin exchange-traded fund (ETF) going live in the U.S. in the coming months.
Bearish trades among bitcoin futures cost traders some $27 million within a few hours on the move during Asian morning hours. Open interest – the number of unsettled futures contracts, which may indicate market liquidity – rose 6.7%, showing improved trader participation over the past 12 hours.
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Popular crypto investor Anthony Scaramucci, the founder and managing partner at SkyBridge Capital, said in a podcast he expected bitcoin to eventually become a $15 trillion asset over the coming years, calling it “more valuable than gold.”
Bitcoin led gains among major tokens, with Solana’s SOL and Tron’s TRX also climbing. SOL jumped as a bankruptcy estate for beleaguered crypto exchange FTX – which holds billions worth of SOL – staked nearly 10% of its holdings, damping fears of a token sell-off.
Among other alternative tokens, and , both bitcoin forks, gained as much as 11% while crypto casino Rollbit’s RLB tokens surged as much as 14%.
Elsewhere, crypto game Big Time’s BIGTIME tokens jumped 350% shortly after listing on influential exchange Coinbase (COIN). However, analysts at Delphi Digital said they considered the token an "extremely risky asset to be trading right now."
"Before touching on some of the game-related concerns, it is important to point out that it is incredibly hard to find any reliable sources on what BIGTIME tokenomics looks like," analyst Joseph Lloyd said in a client note shared with CoinDesk. "There is no vesting schedule, no mention of allocations, and no concrete info on the current circulating supply (will update when we have this info). All we know is that so far, approximately 5% of the total supply has been airdropped to players and is being actively traded on the open market."
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
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