Re: Bitcoin Bearish or Bullish? Here my thoughts: FEBRUARY UPDATE
⭐ Merited by fillippone (1)
1 trillion marketcap is still low, gold has a 7 trillion marketcap and that is mainly from store of value. The world is moving to a digital world and gold is a hassle to transport globally while bitcoin just requires a few clicks of the mouse.
So true.Next step is: if you think digital gold (Bitcoin) can be equal in store of value to physical gold, and physical gold has 7 TN of market value, what is the fair value of the digital gold, provided there are only 21 millions unit of this?
That was one of the back of the envelope calculations I made when I decided to invest in bitcoin.
Before trying to give value to Bitcoin in x years, we need to understand what Bitcoin is: digital gold, value reserve, currency, commodity?
Basically it is none of this, and at the same time it is all these things!
If that were the case (and that's what I think), you will not have a $ 7 trillion market, the physical gold market, but we would have a $ 1,000 trillion market, and more.
That was one of the back of the envelope calculations I made to invest in bitcoins.
My outlook is long term so I am always bullish. I'm not worried about the next few months or even the next year. I'm looking a decade in the future.
Me too
https://bitcointalk.org/index.php?topic=4849889.msg43731865#msg43731865
7 months ago I made this post looking at the next decade of Bitcoin, after the 5 halving of about 2028, when 97% of all Bitcoins will be extracted and when there will be only 225 Bitcoin mined and available a day, with the current 1800 .
In 2016 there are 16 million people in the world with assets of over $ 1 million ..... what if even only 5% of these diversify their wallet and want to own even 1 Bitcoin?