The Path to $1 Million Price for Bitcoin
I wanted to share a data point that I found on Twitter which details the path that Bitcoin could take to reach a price point of $1 million, based on a Stock-to-Flow model.
Do you think this is realistic? Let me know what you think!
DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make.
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This sort of thing apt to put a hodlers mind at ease.
There definitely is something to it. But it depends on adoption whether or not this scenario will come to pass. I think Bitcoin is best suited to complement precious metals to some extent as a store of value for the digital age rather than become an every day currency. With sufficient adoption, I can imagine Bitcoin being included in a basket of commodities and foreign currencies making up reserves in central banks. Initially, it's share might be very small but with maturity and decreasing volatility it may rise in importance. The US dollar is the world's reserve currency of choice at the moment but that is bound to change with the share of the US economy of the world's economy gradually becoming smaller each year.
I wish I could believe that.
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I believe it is very possible but this will still take a lot of year to come to pass but I believe it is very possible
Anything is realistic given the way humans can create bubbles in financial markets but I think it will not happen this way in our lifetime. I hope I am wrong but it would not be sustainable as we learned in 2018.
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Wow. 2028-2029 could be a crazy time for crypto if the price of btc follows this projection.
Dude. If BTC reaches a million, what will the USD be worth? Nothing.
And I think BTC will be 1mill, and USD will die.
Not because of BTC, because of QE, deficit spending, bankruptcy and lost trust.
Hopefully BTC or cryptocurrency can fill the gap. Or heaven help us... Dark times could be coming.
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Interesting stuff, Louis. You may be interested in an analysis I did which reached similar conclusions in BTC being a long-term game. (with an R² of 0.97).
You can see more at https://busy.org/@citizenkane/original-research-my-time-travelling-algorithm-found-the-risks-of-buying-btc-on-different-time-frames