Re: Will Bitcoin hit a trillion dollar marketcap in the future?
I'm not so sure if it's a fantastic achievement to actually become a fiat millionaire with how it keeps losing value. If I at some point want to secure some of the value that I hold in Bitcoin, I will try to buy land or as many properties as I can, and all will be paid for in Bitcoin. I ain't going back to fiat. Selling Bitcoin for fiat is like selling Gold for Copper. Who does that?
The more adoption Bitcoin goes through, and thus the more acceptance there is worldwide, the less incentive there is for people to sell Bitcoin for fiat. People will spend it, and that's how money should be used, because Bitcoin is money at the end of the day.
The more adoption Bitcoin goes through, and thus the more acceptance there is worldwide, the less incentive there is for people to sell Bitcoin for fiat. People will spend it, and that's how money should be used, because Bitcoin is money at the end of the day.
That's certainly true, mate. While Bitcoin is money for our day-to-day needs, it's also an investment just like Gold. Many consider the pioneer cryptocurrency as a store of value, simply because it has characteristics which resembles Gold. At some point, Bitcoin needs to be spent just like Cash, because if most people hoard it, then it wouldn't be of benefit to the crypto economy. When there's a lot of interest in acquiring Bitcoin, we see prices rise like skyrocket within a short amount of time. However, that's not the case nowadays as people seem to be more interested in spending and holding their Bitcoins without buying more in the process.
Eventually, Bitcoin would reach over a Trillion-Dollar market cap as institutional investors come into the crypto space. However, in the meantime, it's best to buy Bitcoin while its cheaper, since there's a high probability that it would go past its latest ATH any time soon. Behind the scenes, developers are working their way through making Bitcoin as scalable as possible for the masses. Even with the current downtrend in the whole cryptocurrency market, the blockchain industry has been improving every step of the way.
Therefore, Bitcoin will hit a Trillion-Dollar market cap in the future. But it is just a matter of time when it will happen whenever it'll be next year, or a couple of years from now. Just my opinion
