Post
Topic
Board Economics
Re: What are the fundamentals behind the conception: 1 BTC will worth USD 1 million?
by
bitmover
on 22/03/2021, 14:36:55 UTC
I read this many many times,
Is there any solid fundamentals in the conception that 1BTC could be worth USD 1 MILLION or even more?
Or it is just wishful thinking?

Thank you!

There is no solid fundamental to confirm that, for now. If there was a solid fundamental, it would be 1 million now.
But there is a potential to reach that value, imo.

1 - USD value may decrease over years (decades).

2 - Bitcoin market cap is still only 2% of gold market cap. If bitcoin really becomes the "digital gold" , there is a chance:
Quote
Bitcoin has actually only taken 2% of gold market cap, new data suggests
Getting to 10% of gold's market cap would mean that each bitcoin costs $154,000, says CryptoQuant.
https://cointelegraph.com/news/bitcoin-has-actually-only-taken-2-of-gold-market-cap-new-data-suggests

So, following this line of thinking, as 10% of Gold marketcap is 154k, a 64% gold market cap would be 1 million USD.
Personally, I don't think bitcoin has the potential to reach 100% gold marketcap, but I think a 20% is a very likely scenario (10x from now). Gold is the oldest asset in the world, it has value since the beginning of the times. Bitcoin is amazing, but it is not gold.

But, there is a chance to reach 64% (1million).