Most people have literally no money. So we just need to convince the big whales that diversifying their portfolio on Bitcoin, even with 1%, will be a good idea. With just 1 to 5% of the top 1000 fortunes on Bitcoin, the price would be really high, I haven't done the math but I think it's all it takes to go $500,000 to $1,000,000:
If you sum the top 2 tiers you get 220 trillion USD (the purple top) so we need that this top goes 10% on BTC and we would get a 20 trillion marketcap in other words $1,000,000 per coin. I think this is doable in the next decade or so.
Also if you keep track of these charts you'll see that the rich just keep getting richer so the incentive for them to diversify in Bitcoin will grow too.
We don't have to convince anybody. People say they want adoption and all that shit, but in reality they don't. Sure, the price will go high, but things might just start getting much worse from then onwards. If you sum the top 2 tiers you get 220 trillion USD (the purple top) so we need that this top goes 10% on BTC and we would get a 20 trillion marketcap in other words $1,000,000 per coin. I think this is doable in the next decade or so.
Also if you keep track of these charts you'll see that the rich just keep getting richer so the incentive for them to diversify in Bitcoin will grow too.
Convincing whales is pointless, but I believe most of them have invested in bitcoin, and those who say they haven't are pathetic liars who don't want to ruin their reputation by saying that they are involved in bitcoin. Either that, or they really hate/dislike bitcoin and don't have a clue on what bitcoin is.
That chart is so damn informative, thanks for that. I was shook when I saw that there are 33 Million millionaires and yet the world hasn't got rid of poverty. What a sad world we live in.
It would be interesting to see the same pyramid/chart for bitcoin holders, in similar manner, like how many people have more bitcoins and similar data.
Bitcoin can go to a million dollar per coin, its doable, but not very possible. There are invisible barriers that firstly block that from happening and then you have humans blocking the same to happen. If bitcoin reaches a million , things can go really awry.