Bitcoin the World Reserve Currency by 2019? Crazy chart
BTC vs USD money supply
M1 and M2 stand for the USD money supply.
BTC is the Bitcoin market capitalization.
US Dollar market cap is from Investopedia:
M1 money supply includes those monies that are very liquid such as cash, deposits and traveler’s checks.
M2 money supply is less liquid in nature and includes M1 plus savings, certificates of deposits and money market funds.
So what does this mean?
Bitcoin is quickly nearing the US dollar market cap!!
How quick?
It needs to go from 100 billion to 5 Trillion. This seems like a huge step, but on an exponential scale we can see the growth of Bitcoin is so fast, its quickly possible.
How quick?
What is the best fitting curve?
I've drawn 2 green curve fitting lines here:
If Bitcoin continues growing exponentially we're right next to the US Dollar total market cap in 2019.
If growth goes from exponential to linear (a more fitting curve in my opinion) Bitcoin will be big but never the world's reserve currency. It also means we're now in a pretty big bubble.
What do you think?
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