4% Of The Total Bitcoin (BTC) Supply Could Replace The United States’ Total Gold Holdings
No one can deny that 2019 is set to be the year of Bitcoin again. While the crypto market faced some hard times last year, the truth is that things are looking up now and that prices are finally moving up again.
Can you imagine that Bitcoin was priced below $4,000 USD just a few months ago? Now, the cryptocurrency stands at around $11,850 USD, leaving the $10,000 USD mark behind.
It is obvious that, since its inception, Bitcoin was devised to be the new digital gold of the world. A boundless asset that would be decentralized and fully digital. However, the token has faced many problems so far that got in the way of the fulfillment of Satoshi’s dream. Now, however, it seems that the whole digital gold idea is no longer a utopia.
Rhythm trader recently made a new analysis that countries would need to hold some quantity of BTC in order to have as much BTC as they have gold. The U. S., for instance, would need 913,388 BTC, while China would only need 206,923 BTC and the U. K, would need 34,847 BTC.
In case these countries decided to replace their gold assets by BTC, the world would be considerably changed by that. The number of BTC required for that is not even that big. The United States is buying a lot of gold and even in this case they could replace it with less than 1 billion BTC. It does not really seem impossible at all.
What would happen in the future in which these countries really started to rely on our dear digital gold asset? A lot. For instance, the market would be more decentralized and also more technological. Bitcoin is, to many, the better asset when you compare it to gold, so the world has a lot to gain by replacing it.
Obviously, this would also impact BTC holders, who would gain a lot of money, as prices would probably go up very quickly if these countries were really to buy the asset.