Bitcoin Could Be Valued At $1.5 Million USD Per Coin If It Absorbs All Fiat And Gold Holdings
When Satoshi Nakamoto created Bitcoin, he was interested in creating a solution for the financial world that would take all far away from traditional finance companies and Wall Street and closer to having more freedom to own your money without needing any intermediaries.
While Satoshi never actually outlined his plan about how Bitcoin was supposed to take over the world and become the one true money, this is what the Bitcoin community have come to defend over the years.
For instance, Dan Held, former product manager at Blockchain.com, has once argued that Satoshi meant to create the backbone of a new financial system that would take over the world, not only a peer to peer digital cash system that people could choose to use.
At the moment, Bitcoin has not yet made its revolution come true and taken over the world but some say it is only a matter of time. Now, if Bitcoin was actually able to merge all the fiat and gold holdings in the world into its chain, how much a single BTC would be worth? Travis Kling affirms that it would be over $1.5 million USD.
In case you do not know Travis Kling, he is the Chief Investment Officer of Ikigai. He has recently talked about the bear market and how people should remain optimistic. According to him, the bear market is simply a phase that the market is facing at the moment but he said that Bitcoin is “the hardest money we’ve ever had in the history of mankind”.
That is a huge affirmation, alright. In this same occasion, the crypto investor and expert has affirmed that the market has plenty of space for growth, you just have to consider how much money exists in the world. This is how much Bitcoin can grow.
He affirmed that the value of the USD is currently about $19.5 trillion USD and that all gold is around $7.8 trillion. Bitcoin, on the other hand, is only worth $60 billion USD so far, so there is simply a lot of space for growth because Bitcoin can still achieve a lot as a way to store value.
According to him, if Bitcoin was to actually absorb all value, it would be worth $1,571,316 per unit, which would make each person that holds a Bitcoin today a millionaire.
Sure, this is an almost insane prediction. Bitcoin will not eat up all the value that USD and gold have today, that much is a given. However, the value that the token can reach even if it takes a share of that, say, for instance, 10% of this market, would be that each Bitcoin would be worth over $150,000 USD. This is 50 times the value that Bitcoin has now.
If the token would ever get a third of the market for USD and gold, for instance, its prices would skyrocket to half a million USD. Now, this looks like a solid investment.
Will Bitcoin Actually “Gobble Up All Fiat”?
While it is great to dream that Bitcoin will be valued at $1,500,000 USD, we all know that it is not very easy to make this actually happen. Max Keiser, a prominent Bitcoin expert, has once said that crypto is like a monetary black hole and that it will “gobble up all fiat”. How right he was back then?
Trace Meyer, another Bitcoin investor, has affirmed that the 2008 crisis happened not a lot of time ago and that the world has learned nothing as countries continue to accumulate debt that they may not be able to pay later.
With initiatives like the Bitcoin Lightning Network making Bitcoin much more accessible and interesting for the investors, as well as with the fact that Wall Street is getting interested in cryptos, Bitcoin would easily become an alternative.
Also, most of these investors believe that hyperinflation will happen in the future, which could easily devaluate the USD. Many underdeveloped and poorer countries have seen hyperinflation crisis but the United States has not for a long time faced a lot of inflation, so Bitcoin could be the way out.
These are all just theories, however, so we should be pretty happy is Bitcoin actually hits that 10% level in the next ten years. If the “best case scenario” for crypto does happen, though, investors will be quite happier.