How do you measure the world market penetration of Bitcoin???

in bitcoin •  last year

Bitcoin World.png

Well one interesting way to measure the market penetration of Bitcoin, that is relatively accurate and verifiable is the GWP (Gross World Product, sometimes called Global GDP) to Bitcoin Market Cap ratio...... All goods and services sold in the world in one year, according to The CIA Factbook amount to roughly $120 Trillion and the Market Cap of Bitcoin just happens to roughly be $120 Billion, so Bitcoin is pretty close to One, One Thousandth the size of the world economy....... OR One Tenth of One Percent. For Bitcoin to hit 1%, the price has to grow by a factor of 10x, so it needs to be at $72,000 per Bitcoin to be 1% of the world economy:-) and $360,000 to be at 5%......I like those numbers becasue they can be backed up. I will put the links below:-)

https://www.cia.gov/library/publications/the-world-factbook/geos/xx.html

https://coinmarketcap.com/currencies/bitcoin/

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

great post

Congratulations @jaquith! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of upvotes

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

By upvoting this notification, you can help all Steemit users. Learn how here!

sir if you have free time please up voted me on @iwant