Topic: Bitcoin is now a TRILLION dollar asset! (Read 287 times)

$ 1 trillion = $ 1000 billion, which means 100x since you bought it the first time...
we will see the big surprise that Bitcoin makes again in the next few years, maybe in 5 years, the market cap of BTC will be $ 100 trillion. *who know

Slowly fell a bit these past weeks , but back in 2017 we are just praying for the whole market cap to reach 1 trillion but now Bitcoin alone had break this amount.
Wow , meaning you are a Millionaire now?

Congratulations to us, without us supporting bitcoin this will not be achieved.

I'm kinda late in celebrating it, I was also monitoring the price of bitcoin but I failed to look at the total marketcap and this thread reminds me of that big achievement, thank you and once again I'm congratulating everyone for making it happen, especially the institutional investors.

Isn't it always like that, when Apple stocks and the like were still in low market cap no one bats an eye but once they become among the top corporations people start latching onto it. It's just how people's mind works always underestimate something at the beginning and regrets when things already happened beyond their expectation.
Same thing with crypto, crypto always being accused of being a tool for scamming in the past by the people who lack knowledge but turns out it becomes such a huge thing a decade later.

We cannot deny that, the pandemic crisis does not have a direct impact on the existence and trade of bitcoin, but it transmits a good way to avoid using paper money because it is alleged that paper money is the spread of the pandemic as well. so that the transaction method has been adopted by many companies to form digital money in each country.

as long as there is crypto, it is clear that bitcoin will be the best because individual investors, large companies, brokers are still holding it and making future investments. so that we can be sure that it will remain the best and maybe even grow a lot of potential new altcoins due to the increasing movement of bitcoin.

Interestingly Winklevoss twins said they had as much as 400k bitcoins as well, this wasn't directly by them I think, it was some other people who shared information regarding how much winklevii had, I do not know how much exactly they have, but we all know they used tens of millions of dollars from their facebook settlement money on buying bitcoin and they are easily billionaires now, they are getting closer to Mark as well and if one day they pass mark that would be very very funny.

Obviously Mark worths nearly 100 billion dollars whereas Winklevoss twins worth about few billion dollars so there is a long way to go, but in case facebook drops a bit while bitcoin increases a lot, we could actually see Winklevoss twins becoming richer than Mark and that day will be a much celebrated day for sure, without a doubt. Everyone hates Mark and we do like Winklevoss twins who supported bitcoin way before anyone else did.

That really something to happen, it expected to see as the market keep growing, massive growth of crypto users, it all just to go like this and probably to increase faster as what we think. There are a lot of changes that could just happen in 1 year, everything is a surprise and full of wonder. And this is to justify that Bitcoin has closer to its goal and soon, it is finally be considered digital money, not an investment.

I think we must focus on $2Trilion first and it's just about time, For 1 trillion we can reach it around ten years after Bitcoin launched.'
And for $2 trillion, I think we don't need to wait until ten years too, but maybe only need 5years-6years. Because Bitcoin is more famous and the price already so high, so will be easy to reach $1T again rather than before

Awesome market cap ever, and this is the best proof for those people who doesn't recognize bitcoin as trusted asset. They've been slapped so hard with this capabilities of bitcoin. All controversial issues, that it's scam or whatever fud ran by manipulators were all gone.
Trillion cap is somehow unbelievable, but let's face reality if it and embrace.

It is a fact that the bitcoin market and the entire cryptocurrency market has became a speculation market and these valuations we are seeing right now i am not expecting that to hold on to those valuations next year as we will have a correction and we might even go below $20k and the process off pumping and dumping will continue and these valuations are not making the technology any better.

It is not emotions but the greed of making money with every pump in a bull market and i am not against it, all you need is to be careful because when you think you figured out the market the market could come down hard on you .

I totally agree with early Bitcoin believers, however other Bitcoin believers have only complained because they claim that Bitcoin became an asset out of mere speculation and the sense of technology was lost, I don't remember which article it refers to , but one day I said it in WO.

But I think those who think like that must have imagined that Bitcoin would reach great prices, and that obviously most people were going to enter for the money, this is something that cannot be ruled out, however believers today are buying in large quantities. This is why we have more and more new ATHs, this without taking into account the large number of people who are buying due to the emotions that some leaders like Elon Musk have only tweeted from their account.

It can be said that in part he is certainly responsible for the success that BTC has achieved over the years - back in 2014, he bought as many as 30 000 BTC which he paid only $18 million. Some people like Winklevoss twins or Tim Draper realized much before others what potential BTC has, unlike all the others who have only just begun to realize this in late 2017 or back in the last few months.

These early visionaries were (and still are) true believers in Bitcoin - not only in terms of investing for profit, but in terms of the technology that drives the project. People laughed at them and said that BTC would fail, and today these same people speak completely differently - fortunately some of them are honest and admit that they were wrong.

Bitcoin's performance in the market is really impressive. And this pandemic crisis even helped a lot in what we are achieving today. The fact is, this pandemic brought a lot of adoption to users as we move to cashless payments to avoid fiat payments. 5 years from now, it would be interesting how bitcoin will be in the market. Will still be the top cryptocurrency in the market?

Yes, the market is the most active I've seen.
1. Bitcoin has historic ATH - market cap ~ 1000 billion dong, ~ 60% of total market cap (1000 billion / 1700 billion). This is the (relative) all-time high of cryptocurrency.( same Apple, Amazon, google, Microsoft... right now)
2. The highest bitcoin value of all time (Up ~ 500% year)
Although this is a really impressive number, the macro always has a basis for it to continue to go up vertically.

https://www.cryptoglobe.com/latest/2021/02/binance-ceo-cz-explains-how-price-of-bitcoin-could-even-go-as-high-as-10-million/

We'll see the next ATH very soon, guys!

Bitcoin has come a long way. When it was first traded in an exchange (New Liberty Standard), the exchange rates were $1 = 1,300 BTC. Now the prices have risen by more than 60,000,000 times. No asset (equity, bullion, real estate.etc) in the history of mankind has given this sort of returns. I have heard about 100 times or even 1,000 times return. But 60 million times?

I will tell about an incident which comes close. Back in 1998, Larry Page and Sergey Brin offered to sell Google to Excite for $750,000. But their proposal was then rejected by Vinod Khosla and George Bell. The current market capitalization of Google is $1.41 trillion, which represents an increase of 1.88 million times. This is the most extreme case I have seen from the stock market. But even that doesn't come close to that of Bitcoin.

Did he make it happen is the golden question?

Some had very bold predictions even in 2013 - so even though it's not 1 trillion MC - here's what the Winklevoss twins were saying at the time:


They were not far from the truth at all, because now we have something that can be called without any hesitation “big bull case scenario”. I well remember a time when many doubted that even $1000 would be something that would happen again - and few even thought about the numbers we have today.

My favorite when it comes to long-term forecasts (Tim Draper) said in 2018 that he predicts a price of $250 000 by 2022 - and he also accurately predicted back in 2014 that 1 BTC would reach at least $10 000 by 2017 - and we all know that's exactly what happened.

It can be more stable. It can never be stable. Volatility will go down as the market matures which just means the market cap gets larger and therefore harder to move around a lot. Volatility has continually gone down over the long term as Bitcoin has gotten bigger and bigger and that will continue. But yeah like you say its long term upward price trajectory will continue even as short term volatility falls over the years, so I don't see that creating an atmosphere where suddenly people are gonna be like hey lets all spend our bitcoin on a day to day basis rather than holding. Holding will still generate value so it will always be preferable to spending.

Spending Bitcoin has more to do with when each person is happy with what they've made and spending some of that on something, and has less to do with volatility. Knowing that Bitcoin could be 2% higher or lower tomorrow compared to 10% higher or lower tomorrow doesn't make a difference in spending - you still get the purchasing power of whatever the price is at the moment you spend it. You're only going to make the decision to spend if you're happy about how much value Bitcoin has already created for you and you feel comfortable spending some of that value, volatility doesn't come into play in that decision.

Short term volatility is more of an impediment to getting PAID in Bitcoin. You don't want your paycheck in a month to be worth 20% less than what it was when you got it. Make a purchase is instantaneous so volatility doesn't play a role in it, but you don't spend your paycheck the moment you get it so that is where volatility affects things. What we could see as Bitcoin matures and becomes more stable is more people taking their paychecks in Bitcoin. But the hurdles to spending are not volatility but tax rules, merchant acceptance, and tx fees. If Bitcoin merchant acceptance becomes ubiquitous, if LN became usage became ubiquitous so tx fees were not an issue, and if spending Bitcoin didn't incur capital gains taxes then Bitcoin would be ready to be a daily spendable currency, but only by people who were already happy with how much value they'd already generated through Bitcoin.

Bitcoin has way more support now compared to the 2017 bull market. Back then there was a lot of FUD and panic sellers brought about the scam ICOs. Right now there's more positivity and even acceptance from big institutions. Bitcoin is still very volatile and there is still some hesitation from the general public. While it is expected for the market to go bear at some point especially with all this positivity, I don't think it will drop as significantly as it did in 2018. Keep in mind though that we should always have an exit plan.

That's only impressive if you call bitcoin an "asset" which you did! And compare it with stocks and stuff like that. I keep saying this that bitcoin is a currency and if you want to compare it then compare it with currencies. And since it is a global currency made for everyone not just people in one country it has to be compared with the total money supply.

Now when you say there is a trillion dollar worth of bitcoin around while there is multi quadrillion dollar worth of fiat around you see that what bitcoin has reached is just the beginning.