I have a friend of mine at the conference this weekend and he has been speaking to a few people who think a $5000 + bitcoin could be possible.
Thoughts ?
Thoughts ?
Take 21M coins and multiply it by whatever number suits your fancy. For $5K, that's $105B. The US money supply is around $3T currently. Gross domestic product was $15T a few years back.
Knock yourself out.
It actually wouldn't take much to reach 5k. It could reach 5k by the end of the year if the right media and circumstances occur. But the infrastructure cannot handle it yet and hackers would probably DDOS the exchanges to make sure that it doesn't get that high before they get some. It's going to be a challenge in terms of infrastructure not in terms of getting demand. Demand will come on its own.
Ultimately, there's 21M coins x 100M satoshi's/coin right? That's a couple of quadrillion units I think. There's a lot of room for infrastructure growth as you note. If a Satoshi was worth a USD, then a coin would be worth $100M. And now back to our previously programmed reality.