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RE: A Simple Case for $250,000 Bitcoin-- Maybe not as Impossible as it Sounds!
$100 Steem... that would be nice. It'd only be about a $24B market cap, which seems less and less far-fetched as time goes on.
With bitcoin getting to $250k, I have my doubts. I do wonder if Bitcoin will survive that long, due to political struggles, big money trying to use the project for its own benefit... Perhaps even some covert government interference. Even though Bitcoin was the most decentralised money to date when it was invented, the people involved can still be corrupted.
I'd say it's possible... All the gold in the world is valued at about $7 trillion. Bitcoin would have to be worth about $4.5 trillion. At that point, I suppose Bitcoin's reputation would have to be almost as good as gold.
What will actually happen remains to be seen... in some ways, cryptos are a bit like the web, itself... older versions become obsolete as they are replaced with new iterations based on the same principles.
The post was mostly intended as a bit of a mental exercise in perspective... our current "bubble" (if there IS one) is tiny compared to the overall capital market. Whether the breakout to the next level of cryptocurrencies comes on the back of BTC, or Steem... or some coin yet to be invented... it seems pretty clear that there's a LOT of growing room.