Will the Bitcoin price reach a Million dollars some day?
According to various sources there are between 15 and 35 Million dollar millionaires globally. It is difficult to say but it is somewhere in between.
It is important to note the word Dollar :) as there are many millions more other currency millionaires. If we only look at Zimbabwe there are probably more billionaires, or to put it differently everybody in Zimbabwe was a billionaire at some point due to their idiotic leader just printing more money, but that is not where I want to go today.
There will only ever be 21 Million Bitcoin issued.
It is remarkable to think that there will most probably be less Bitcoin issued than there currently is Millionaires in the world. Just think about that for a second… One of the main things that will give Bitcoin its value in future is its scarcity. It is still very possible to get your hands on Bitcoin as there is new Bitcoin mined every 10 Minutes. The future will however be a bit different.
I do not believe that Bitcoin will be the one and only crypto in the hands of the masses. Sure the network operators are trying to address the scalability and speed of the coin. In my opinion this is not really necessary as I believe that Bitcoin has a purpose. So does all the other crypto's in the world. Bitcoin for me should be used as a measurement and benchmark standard for the other coins. Like we had gold in the olden days. You could only print as much money as the amount of gold your country owned. Again this is just my opinion.
To use another comparison to gold, is that Bitcoin has value for the same reason gold has value. People want Bitcoin and there is not enough to go around. You can't just create more gold, and at some point nobody will be able to create Bitcoin. It will therefor become scarce.
The future price of Bitcoin.
I have read various sources indicates that Bitcoin can go up to as much as $10 000 even $15 000 I the near future. Even in this year 2017. I am not giving financial or trading advice whatsoever, but what I do know for a fact is that I am going to buy at least 1 Bitcoin for my 3 and 7 year old daughters. Hopefully this will be worth something on their 18th Birthdays. If it is not, well I haven't lost much have I?
You can read more about this on Coin Telegraph - Bitcoin Price Might Exceed $1 Million, More Millionaires in World Than Bitcoins
Happy Steeming!
I truly believe the growth is still going to be phenomenal!! These are still early days 👍🏻
Buying 1 bitcoin for your kids education, might be a much better investment than savings bonds or an educational money-market account.
Somebody mark the date. Let's check the return in a few years. Bitcoin versus an educational savings account.
...the result might start a new trend.
If it hits millions per 1 Bitcoin I doubt they will still want to go to college..
I feel blessed to have a fraction of a Bitcoin, now I want more 😎💰💰💰, someday I will get a whole BTC 😉
Bitcoin will be the highest currency used worldwide soon... I believe that
Bitcoin has been losing a lot of market cap. With all this potential in the market, it would be a shame if only one coin ruled.
IMO, bitcoin will have a price cap, the old technology will eventually be replaced with the new one, same thing can happen to bitcoin, it will reach a very high value but as soon as it becomes so scarce that it's hard to get, people will move on to the next thing.
I am not sure if Bitcoin will ever reach that level. I am very sure it should rise in price overtime. My view about Bitcoin is that it functions more like a store of value and an unofficial reserve currency/benchmark for crypto.
It probably will. In the next 15-20 years imo.
Love your thinking man.
You are a smart man and that 1 BTC will probably be worth atleast 10-20x more when they turn 18.
Much better than giving it to the devils in the bank.
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Nope..no chance!
The technology is revolutionary, it was the start...it simply opened the door
Think of it as similar to the industrial revolution!
There are many alt-cryptos that are already technologically superior than Bitcoin
I'd guess not, if for no other reason that that other cyrptocurrencies are bound to outperform it in functionality, technical capability, and scaleability...
Well, Bitcoin became the canon cryptocurrency.
But I believe that in future when other coins became stronger, we may meet the domination takeover.