So I was thinking.
According to Google, the 2013 estimates of total m2 money supply in US was 10.5 trillion. So if I owned 1 usd today that would be a so a very small percentage of the total number, yes?
But I can own 1 bitcoin today and that means I can own 0.0000048% of total btc supply..
If you think about it, 0.0000048% of total US m2 money would be 504,000 usd.. half a million
So can we say that 1 Btc = $500,000?
Lets discuss..
According to Google, the 2013 estimates of total m2 money supply in US was 10.5 trillion. So if I owned 1 usd today that would be a so a very small percentage of the total number, yes?
But I can own 1 bitcoin today and that means I can own 0.0000048% of total btc supply..
If you think about it, 0.0000048% of total US m2 money would be 504,000 usd.. half a million
So can we say that 1 Btc = $500,000?
Lets discuss..
I don't know if that is the right computation, mate. Only time will tell. If Bitcoin becomes the main currency of the US, then perhaps 1 BTC will reach as high as $500,000. But that would happen way beyond our lifetime here. But then, BTC will always be used alongside a handful more cryptos. That makes it less than $500,000.
