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RE: 🔥 How bigger can Bitcoin be? 1,000,000$ possible?

in Project HOPE2 months ago

Dear @crypto.piotr,
In this matter I disagree with you. I think that Bitcoin will be Gold 2.0.
It has more properties than gold, and I think it can surpass their market capitalization. With Bitcoin at 500,000 it will have the same market cap than Gold.
I see it going way further.
Only time will tell! 😊

 2 months ago 

Dear @resiliencia

Don't take me wrong buddy. I also agree that BTC will be considered by many (including me) to be Gold 2.0.

It has pretty much all Gold features and is more convinient to transport and liquidity is only growing.

However, GOLD total market cap is approx 11 trillion. So my question is: what would bitcoin market cap be if BTC would grow to 1mln? Around 27 trillion?

My question is: HOW could we ever get there? Even if ALL wealth stored in gold would be moved to bitcoin - we would not get half way to reach that target.

For that particular reason, I do not see it ever happening.

Cheers, Piotr

If Bitcoin hits 1,000,000$ mark, their market capitalization should be around 18,7 Trillions.
This is not doubling the market cap of Gold which is 11 Trillion.
I think this can happen sooner than later. We could get there if some money from institutions starts flowing to Bitcoin. Actually there are Trillions of dollars in state bonds that are yealding 0 or almost 0.
This can flow rapidly into Bitcoin, and at some point a part of that will come.
We just have to be patient!