What would the bitcoin price be if everybody in the world owned a days wage in bitcoin?
First, the world population is 7.5 billion. The mean wage in dollars is about $18000 a year, which is about $50 a day. The daily wage for the entire planet is the about $50*7.5 billion = $375 billion. This would be the theoretical market cap for bitcoin if the above condition is true.
The current market cap for bitcoin is 75 billion. The above market cap for the "everybody has one daily wage in bitcoin"-assumtion is 375/75 = 5 times bigger than the current market cap.
Assuming that the bitcoin price is proportional to the market cap, then the price for the "all-daily-wage" assumption would be 5 times the current price, i.e. 5*4554 = $22720.
That is one way to look at it. Of course there is also the store of value side of the equation which can push it much higher.
Gave you a follow...good post.
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Nice calculation. Next year we could possibly have this value for one bitcoin
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Interesting thoughts! One more way to calculate bitcoin price. Followed
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