Bitcoin (BTC) Price To $1 Million When It Turns Into ‘World Money’ Says Ryan X Charles
The CEO of Money Button, Ryan X Charles, recently uploaded a video where he shared his opinions concerning the current state of Bitcoin (BTC). He stated that the actual essence of Bitcoin (BTC) was to create a financial system where sound digital money can be made available to the world.
Ryan detailed that Bitcoin orbited around the notion of generating sound digital currency that encompasses everyone the world over. In addition to this, persons could join in trade with others in such a way that it will be impossible for a third party to place an embargo or hinder their payments.
He gave this scenario:
“Let’s say someone in Venezuela can participate in trade with someone in the United States without having any bad actors trying to leech away all your value.”
He went further to explain the meaning of Bitcoin at scale in relation to its price. Ryan mentioned that if Bitcoin were to be used as ‘world money’ it would have been easier to evaluate its worth.
Supposing fiat currencies were a medium of exchange, Bitcoin’s price in relation to fiat currency could be evaluated in terms of its money supply. He talked about the different ways of evaluating the US dollar supply where M0, M1 and M2 were the different ways of gauging the currency supply.
Ryan said that in the case of the US dollar, M2 had about $14 trillion in its money supply and when all the different currencies are added together it will be valued at approximately $21 trillion.
He stated that this 21 trillion could be divided by 21 million Bitcoins’ that is the maximum supply of Bitcoin as the limit has been ‘hard wired’ into the protocol. According to Ryan, this assumption clearly advocates that a Bitcoin’s price would be close to $1 million.
The CEO of Money Button posited that the above is the rough estimate of the value of Bitcoin in the future and what it is likely to be if it were to be world money. Although the value could be way more than that since the economy would have grown by the time we arrive.
This is how he puts it in his own word:
“So that is a rough estimate of the future value of Bitcoin and what is it going to be if it’s world money… and the value could actually be more than that because by the time we get there the economy itself will have grown.”