Bitcoin Will Replace Gold and Hit $700,000!
The entire bitcoin network could one day be worth more than $6 trillion, according to a partner at Pfeffer Capital.
“Bitcoin is the first viable candidate to replace gold the world has ever seen,” Mr Pfeffer said. "So if bitcoin becomes the dominant non-sovereign store of value, it could be the new gold, or new reserve currency."
The last bitcoins will be mined around October of the year 2040.
Since no more bitcoins will be mined after this date, this will create scarcity, which will inflate the price of a single bitcoin astronomically.
There are the top 10 most bitcoin friendly countries:
- Estonia
- The United States
- Denmark
- Sweden
- South Korea
- The Netherlands
- Finland
- Canada
- UK
- Australia
Even if your country hates bitcoin, other countries will continue to drive the price higher and higher over the years.
The uses for blockchain technology are only increasing. Bitcoin has been around for a decade already and has come from being priced at around $1 to about a current price of about $9,000 and many more big investors such as Soros and Rockefeller will be pushing up the price soon.
You might feel confused about whether you should purchase bitcoin right now but in 10 years from now, everyone will be trying to get their hands on it because of the ever increasing scarcity of bitcoin.
I doubt that there will be such a huge increase. I think the government will not give.
I think as long as they can tax people's gains from bitcoin and make money off of it that they're perfectly happy. I'm just hoping that they don't increase tax or put more regulation on it because that would drive away investors and probably destroy its future in the process.