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.
Yup it is true, bitcoin is always thought as million dollar dream by many of the crypto lovers in the community. But I always wonder how it could even reach the hallmark of 1 trillion also in the first place. Juts look at the current cap its around 200 B and we still have the prices of 10K (almost) So getting to that much high rates would need almost 50% of population the earth to invest into bitcoin. If they are convinced to do so in the next decade or so then there will also be few percentage of chance that we will be able to cover that much money or market cap. Now I'm very much doubtful that 500 billion people are going to trust bitcoin in first place and will put the money straight into it. So lets see we have the correct mathematics here but what we need is tremendous support and enormous growth in the crypto lovers community.