Bitcoin To $1 Million: How Can This Happen
Cathy Wood of ARK Invest has a price target of $1 million on Bitcoin by 2030.
In this video I discuss how this target can be hit and the different components that go into it. We could see Bitcoin take on characteristics that can make it appealing to many different entities.
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I've been saying this for a while: http://satoshibitcoinconverter.crrdlx.websavvy.work/satoshiday.htm I still feel as though it'll happen eventually.
Except the idea of Bitcoin as the everyday medium exchange will not happen. In fact, it will be impossible since it is inelastic.
Without money equilibrium, it cannot fill that role.
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You mentioned the important points.
I firmly believe that Bitcoin will reach $1 million. This could even happen before 2030.
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It could. There is no doubt that adoption is starting to take place. This is all expanding well.
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With a continuous development of Bitcoin and new adaptations to the world economy that will surely come in the future, that goal of $1 Million can be reached, since we all imagine that it will be the currency of the coming years.
I dont think there will be just one currency in coming years. That are going to be a lot of things we do with it and many different ones will be used.
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But still btc and even eth will be the main ones mostly used as store of value which in long term will see a natural healthy grow in price.
That is the case right now. It might not be the case in the future. Ethereum has a varied future ahead of it. We do not know where this will fall exactly.
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That means in the next 7 years. No @taskmaster4450le , I'm not against the crypto industry or BTC but not in the next 7 years, in my opinion. Adoption is okay, but it has to take decades to reach 1 mn.
Though I feel, it will cross 150 k by then. That is for sure.
Hard to time so you could be right. Of course, so could she.
Stock-to-flow model has it at a million by 2030 for what that is worth.
Hard to forecast markets. We will just have to see how quickly things move.
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I have an estimate for Cathy Wood, however I find it hard to believe that Bitcoin can reach 1 million dollars. Instead, I believe that many Alt Coins will be used as a real means of payment, and those will have a strong price increase.
That is true and I agree with that. However, that doesnt really take away from Bitcoin. It is not a widely used payment system now so it isnt as if it is going to lose market share.
The key with Bitcoin is can it become used as collateral. If so, it will find its way onto many balance sheets.
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I think the ability to trust BTC due to the blockchain and the liquidity issue is a good reason why it can be good collateral. At least, I think BTC can only become more appealing as the marketcap increases because the liquidity should also go up.
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Unless so much of it gets locked up that it gets more volatile.
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Could bitcoin be $1 million? Yes, maybe. But that doesn't mean bitcoin will be the only cryptocurrency. Nor does it show that it is the best cryptocurrency. There are hundreds of better coins than Bitcoin. I think Bitcoin is valuable because it is the first?
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Depends upon what metrics you mean to reach better. There are many tokens that have a larger possibility for Alpha. Others are better for transactions.
However at this point, I am not sure anything is better for store of value even though it is pretty poor overall.
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That's in the far future as nite, there's every tendency in the number $1 million.
Summary:
In this episode, the speaker discusses the possibility of Bitcoin reaching a value of one million dollars. He references a forecast by Kathy Wood from ARK Investments and explores the factors that could contribute to Bitcoin's price increasing significantly. These factors include Bitcoin potentially replacing gold as a store of value, corporations and businesses holding Bitcoin on their balance sheets, and sovereign wealth funds investing in Bitcoin. The speaker also speculates on the potential for Bitcoin to serve as a global collateralization agent and highlights the qualities that make Bitcoin a favorable form of collateral. While he does not provide a specific timeline for when Bitcoin could reach one million dollars, he acknowledges the potential for higher valuations in the future.
Detailed Article:
The episode delves into the forecast by Kathy Wood of ARK Investments, who predicts Bitcoin reaching a value of one million dollars. The speaker elaborates on the factors contributing to this projection, beginning with the concept of Bitcoin replacing gold as a store of value. ARK Investments anticipates that Bitcoin could capture a significant portion of the gold market, potentially leading to a valuation of around five trillion dollars. While Bitcoin's current market cap does not align with a million-dollar valuation solely from the gold market, the idea of Bitcoin as a digital gold alternative remains compelling.
Another aspect discussed is the potential for corporations and businesses to incorporate Bitcoin into their treasury reserves. The speaker notes that while central banks and governments typically hold gold, businesses are not traditional holders of this asset. The precedent set by companies like Tesla investing in Bitcoin suggests a growing trend where corporations diversify their treasuries with cryptocurrencies like Bitcoin. Additionally, the speaker mentions the likelihood of sovereign wealth funds entering the Bitcoin market, further bolstering its value.
Furthermore, the speaker contemplates the future role of Bitcoin as a global collateralization agent, highlighting its qualities that make it a suitable collateral. Trust and confidence in the Bitcoin network due to its blockchain technology, liquidity reflected in high trading volumes, and the potential for stability as the market cap grows are underscored. However, he acknowledges the challenge of maintaining liquidity and stability as Bitcoin's market cap expands, emphasizing the importance of these factors in Bitcoin's role as collateral.
The speaker refrains from providing a specific timeline for Bitcoin to reach one million dollars, emphasizing uncertainty regarding the timing. He speculates on the possibility of Bitcoin surpassing one million dollars to achieve a market cap of $40 trillion, suggesting Bitcoin's potential as a significant global asset. The episode concludes with a reminder that the opinions expressed are not financial advice but musings based on discussions with Cathie Wood, leaving room for the potential of higher valuations in the future.