The Bitcoin Floodgates Just Opened; Ronnie Moas Sees It Hitting $7,500

The price of bitcoin soared above the $4,000 mark on Monday, just a few weeks after crossing the $3,000 mark.

And some analysts are referring to the strong gains as being the beginning of the digital currency's run to be worth tens of thousands of dollars.

One of those analysts is Ronnie Moas of Standpoint Research, who told CNBC that bitcoin's surge is "the floodgates opening." He believes bitcoin is now attracting hedge funds and uber-wealthy individuals to buying the currency en masse. As such, he has a near-term price target of $7,500 for the price of one bitcoin and a long-term price target of $50,000 by 2027.

A $50,000 price target implies a 28 percent annual compounded growth rate and would be worth $2 trillion next decade, he explained. This would be possible as digital currencies will become part of a "strategic reserve" for many investors and also a more stable alternative to many foreign currencies.

But even a $50,000 outlook is a "conservative" figure, CNBC quoted him as saying in a separate research report. Bitcoin is now at the "same point in the adoption curve" as was seen in 1995 when the internet exploded from one million users to ten million -- only to soar to hundreds of millions of users after Netscape went online.

"I expect that within a couple of years we will have between 50 and 100 million cryptocurrency users -- up from approximately ~10 million today," Moas said. "We only have 0.15% market penetration right now -- if that goes to 2% or 3% we will get to the $50,000 price target that I set at the beginning of July."

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