Now here's the million-dollar question, do you guys think that’s possible at this pace?
Right now the total market cap is around $2 trillion. So if we’re talking 10x, that means Bitcoin would be trading at $1 million per coin.
Sounds kinda wild, right? But do you think there's any chance this could happen in the next 5 years? Or is this just one of those crypto fairy tales we keep telling ourselves to sleep better at night?
Every time I see a question about whether 1
BTC can be worth $1 mln. , I want to draw the reader's attention to the fact that if this happens, it will not be as positive news as the user asking the question expects. Because by the time it happens, the value of $1 mln. will be significantly lower than the value of $1 mln. now. And the thing is that the world is increasingly being flooded with printed dollars, which are rapidly depreciating. Of course, reaching the value of $1 mln. will have a very powerful psychological effect, but from a financial point of view, this effect will be spoiled by inflation. If before it seemed important to me how much bitcoin was valued in dollars, now I am increasingly inclined to the phrase that "1
BTC = 1
BTC", which has been repeatedly heard on this forum. Estimating 1
BTC at $1 mln. for me looks like an attempt to exchange 1 gold bar for 1 million beads. That is, an attempt to exchange assets that are not of equal value.
Don't get hung up on the numbers with the "$" sign, which are written with the "=" sign with bitcoin. 1
BTC = 1
BTC.