just playing with numbers little bit Wink
Some say Bitcoin may be the Gold of the future.
If we assume that the future generation will more likely use Bitcoin as a store of value rather than hiding a bar of gold under their pillow what would that mean?
The amount of Gold that is used as a store of value is around 40,000 tonnes worldwide.
1 ton gold = 41,500,000 $
40,000 tonnes x 41,500,000 $ = 1,660,000,000,000 (1,660 Billion $)
divided by the total number of Bitcoin we come to
1 BTC = +79,000$
I actually think the price of Bitcoin will continue to keep rising over time because the supply will start to drop. There are fewer Bitcoins mined every year and there are Bitcoins lost every year. At some point there will be more Bitcoins being lost than are being created. The supply will gradually drop while the supply of dollars increases because the government keeps printing money. Basically the value of the dollar keeps dropping and the value of Bitcoin keeps increasing.