How many Governments does it take to own Bitcoin for it to reach $1 Million?
How many governments does it take to own BTC for it to reach $1 Million? In other words, how many governments need to own Bitcoin to secure their Sovereign Bonds for BTC to hit $1 Million Dollars? The answer is less than 23. You see there are 195 Nations globally. Only 5 currencies that make up the SDR (Special Drawing Rights).
They are: U.S. Dollar, Euro, Chinese Yuan, Japanese Yen and the Pound Sterling.
Nations and their currencies that are not included in the SDR have an uphill battle. They have a huge disadvantage. 80% of the global Nations can not simple have their Central Banks print money. 80% of the nations face terrible currency crisis and inflation as we speak now. Notable example nations are, Venezuela, Argentina, Moldova, Turkey, India, Peru, Brazil, Mexico, Russia (to a certain extent), Sweden, Afghanistan and Tunisia. What options do these countries have?
Well, Bitcoin is their option. Afghanistan and Tunisia are planning to issue sovereign bonds in bitcoin to fund infrastructural developments, reported Asia Times from IMF’s Springs Meetings summit. This is just the tip of the iceberg. Once 20 plus nations adopt BTC as part of their bond program, BTC will hit $1 Million Dollars easily. All of us know that there is really less than 15 million BTC available. Around 3 million have been lost. 15 million BTC could easily be gobbled up by 20 countries and BAM, you have availability issues.
There is a huge difference between real BTC with private keys and derivative BTC. The $5400.00 BTC price is a derivative bitcoin not a real bitcoin. For nations to back their bonds with BTC, they will need real BTC with private keys. Good luck trying to secure a real BTC two years from now. It will not be a matter of humans fighting over owning real BTC, it will be nations fighting over real BTC. Over 150 nations will be forced to own real BTC to bolster their economies since they are not part of the SDR program run by the infamous IMF (International Monetary Fund).
At this point, I feel sorry for anyone not owning at least one bitcoin. In the future, many people will not forgive themselves for missing the opportunity to own a bitcoin when it was fairly reasonable in cost to obtain. Two years from now, people will be in shock to think of BTC prices of a mere $5400.00.
What about alternative coins (Alt Coins)? Well, there are at least 30 top quality alt coins available right now at basement bargain prices. Do you know which ones they are? Do you own any? These are serious questions you need to answer this year before it is too late.
I like your thought @jetblake but I think the world moves a bit slower than in our heads. I may be wrong and would like to be in the case of BTC :-)
The elite won't give up their fiat beast yet as it brings them great wealth
Yes, they will only give their Fiat when they have to. When Fiat collapses. I think the rise in BTC will be due to second and third world nations purchasing BTC not the general pubic purchasing it. I also think people will be surprised at the speed of economic degradation that will soon take place. In your other comment, yes, maybe it would be in 2030 that BTC hits $1 Million. I can wait. The odds are that that date is more likely than it hitting $1 Million in the next 3 years