Post
Topic
Board Economics
Re: Will Bitcoin become a long-term trusted store of value?
by
mendra_2009
on 17/05/2018, 01:17:44 UTC

If it does become a long-term trusted store of value, BTC should trade around $2,000,000 a coin (depending on how many coins are lost and are actually in circulation). That is over 100x the price of where BTC is today.


Where do you get this figure from?

Bitcoin has the basic characteristics of a store of value, the main one being a limited supply. It will need to have some utility for it to be trusted as a store of value so it must succeed in some form as a currency.
True, bitcoin has the perfect characteristics to be a store of value in fact its characteristics are even better than gold, however there is a lot of competition with many other alts trying to take its place so if bitcoin is become a store of value it needs to leave no doubt that it is the best coin in the market and for that it needs to be adopted as a currency or have some other use.
Under limited supply, global acceptance either as digital asset or digital currency, bitcoin has a good prospect for trusted long term store of value.Its price will keep rising. With global adoption, bitcoin price in the future might be more stable than today so people will be more interested to buy or invest in it for a long term period of time. It is more practical than gold due to no physical asset underlined.