Cryptocurrency bitcoin is poised to continue its rapid ascent this year, with one market observer predicting the value of the digital currency could surpass Apple Inc.’s (AAPL

) market capitalization during the course of the next five years.

Ronnie Moas, the founder of Standpoint Research who correctly predicted bitcoin would reach $5,000 when it was still trading around $2,600, said that at the rate it is moving its likely to overtake the Cupertino, Calif., technology powerhouse’s market cap, which currently stands at $810.9 billion. What’s more, Moas predicted the price of bitcoin could reach $50,000 within 10 years with its market value reaching into the trillions of dollars. (See also: Bitcoin Price: What’s Next?)

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“People need to start taking this seriously because today bitcoin caught up with Goldman Sachs,” Moas told CNBC. “Within five years, it’s going to catch Apple, which has (a more than) $800 billion market cap.” As of Tuesday,…