For 1 Bitcoin to be worth $1,000,000, the total market cap of Bitcoin would have to be $21 trillion dollars. What are the odds of this happening?
For reference, the amount of physical $dollars and coins in circulation are around $1.2 trillion. The global M2 money supply of all currencies are around $45 trillion. The market cap of all mined gold is around $7 trillion.
Will 1 Bitcoin be worth a million dollars? Half a million? Thoughts?
Based for the statistics you pointed out, I am convinced now that one bitcoin will never be worth as much as one million dollar, except of course if the dollar became a banana coin with hyper-inflation making its value close to nothing.
Bitcoin does not need to increase its value to a high price like 1 million dollar and get trouble to calculate the value for daily using. Bitcoin is an asset but it is also a currency. I do not hope Bitcoin will become only an asset and give up its first nature of Bitcoin created by Satoshi Nakamoto.