In the near future, 1 bitcoin might be worth $12 million dollars.
This is what I did, and this is what you can do to calculate this number.
Another day I was browsing the Web and I found an information that some well-respected and famous people believe that bitcoin will become the single global currency, like the US dollar today. I do not know if this will actually happen. But since bitcoin is driven by such famous and powerful people, it might happen.
We know that there can be only 21 million bitcoins. I’m not going to go into details, but this is what we have to remember. The most important difference between fiat currencies and cryptocurrencies like bitcoin is that the governments can print as much paper money as they can, and this is the main reason for inflation. But there there can be only 21 million bitcoins.
So, I asked myself, if there can be, or if there is only 21 million bitcoins in the world, if bitcoin is the global currency, the only currency used by everyone – in the United State, in Europe, in Africa, in this case all the riches on Earth will be worth – how much? 21 million bitcoins.
So, what I did is a found Global Wealth Report by Credit Suisse. They did some calculations and found out that the total wealth of the world in 2015 (I don’t think that something has changed fundamentally since then), so the total wealth of the world was and, let’s assume, is estimated to be $250 trillion dollars. Million, billion, trillion. $250 trillion dollars.
Now let’s do that math. I have to take $250 trillion dollars (this is the total net worth of the world) and divide it by all bitcoins in the world, by 21 million. This result will shock you if you like Twitter CEO Jack Dorsey, like Bill Gates and other influential people believe that bitcoin will become the global reserve currency. Because the result is around $12,000,000.
If all fiat currencies go to zero, like they always do, if the US dollar, euro, and all other paper currencies collapse, and if bitcoin becomes the global reserve currency, today’s $1,000,000 will be worth less than 0.1 bitcoins. And if you have 3 bitcoins you will be considered an ultra-rich person. Because today ultra-high-net-worth individuals are defined as having a net worth of at least $30,000,000 million dollars.
If you have a friend who has bitcoins, inspire him, send him the link to this video. I believe my research is worth sharing – why not give it a like? It’s free. And let me know in a comment section below, what, in your opinion, is the highest possible price of bitcoin. And do you believe that this can happen in reality?