If Bitcoin Becomes World Currency what will the price look like?

in bitoin •  7 years ago 

If the entire world wanted to get bitcoin there would only be enough for .0028767 per person. Meaning the price would be astronomical. The only flaw in this theory is that chances are it wouldn't be every single person, nor would everyone pump every single penny in, so if we take a conservitive estimate of 10% of wealth into bitcoin, meaning we can move the decimal over to get .028767 bitcoin per person. But that still doesnt really answer the question, What will the price be? For this a different approach is needed. The new method is to work backwards and taking the global market cap of all registered businesses (64 trillion) and assuming 10% (6.4 trillion) we can divide that by 21 million bitcoins (maximum that will ever exist) and we then see a price of 304,761. Not too bad if you ask me.

Sources: http://data.worldbank.org/indicator/CM.MKT.LCAP.CD
https://coinmarketcap.com/

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Congratulations @setnicodemus! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

You published your First Post
You made your First Vote
You made your First Comment
You got a First Vote

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

By upvoting this notification, you can help all Steemit users. Learn how here!