BLXN Posted August 9, 2019 #1 Posted August 9, 2019 Bitcoin’s mathematically limited supply has seen it being increasingly used as a store of value and an associated climb in price. In terms of market cap, bitcoin now beats the national currencies of Brazil, Canada, Mexico, Australia, and South Korea. At time of press, the value of all the bitcoins ever created was over $0.21 trillion. That is just short of the global supply of Russian rubles. So who’s next? After all, Bitcoin is the hardest money ever created, so it stands to reason there are some more scalps in its sights. Well, after Russia is despatched, the bitcoin market cap will have to double to topple the next largest supply of India. There is currently over $0.4 trillion worth of rupees in circulation. Another similar increase would be required to overtake Switzerland ($0.6 trillion), and the same again to become more valuable than the current supply of silver ($0.8 trillion). At this point, the United Kingdom would also have fallen by the wayside, with around $0.7 trillion worth of sterling in circulation. After that, it will probably be time to take a breather. Bitcoin will be the 6th largest money supply, and the price will be pushing $50k… and getting in the top five will take a monumental push. It’s a considerable further jump up to the current currency supply of the United States ($3.3 trillion) and Eurozone ($3.6 trillion). Even then we still have China ($4.6 trillion) and Japan ($4.9 trillion) to surpass before we can focus on the biggest prize. Gold! The stuff of Peter Schiff‘s dreams, and by far the largest supply of base money, with an estimated $8.4 trillion worth. Whilst this may seem like some pie in the sky fantasy, models like stock-to-flow do seem to suggest that bitcoin’s reducing supply of new coins due to reward halving events, could propel the market cap to $100 trillion after 2028. ___________________ Bitcoins making big advances in the financial world -- as was revealed earlier in one of my threads only 318 wallets control the vast proportion of the Tether reserve, placing the power of BTC trade, and prices in the hands of the few. Perhaps a global inundation is on the horizon-- will fiat go down in flames, and cue the crypto phoenix?
cryptofly Posted August 9, 2019 #2 Posted August 9, 2019 Very good information in this topic. Numbers & Mathematics never lies. With Bitcoin taking part in some regular financial companies by creating options for investors we can only say that we are going forward and the travel is being hard a usual due the Central Banks resistance. We also have the fake news and all kinds of news against Bitcoin and Cryptocurrencies, but that is not new, we all should have learn to fight against that. Thanks for the info in this topic. Good luck.
williamshennie9 Posted August 9, 2019 #3 Posted August 9, 2019 You are not allowed to simply copy and paste the content from other websites here. That is just not allowed. You need to provide some context, share your own thoughts on it etc.
nattekut Posted August 9, 2019 #4 Posted August 9, 2019 Yeah BTC is settling itself around the world. The most interesting part is that BTC has a limited supply which can benefit BTC total value in the future. Fiat currencies have a big slice but they can easily print some more which decrease the value of it compared to the economic situation. I am sure BTC will be able to catchup with some big boys in the future just because it will has a limited supply
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