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?
Though the rise of Bitcoin's price was still continuous, the expectation of getting it into a higher value to reach up to $1,000,000 will surely to be taking up too much time for it to be able to happen. Also, if that will happen, the price will come up into a real expensive amount which is not really affordable and will be hard for the small time users to avail and purchase even a single Bitcoin if that scenario will truly happen.