Topic: Bitcoin Must Hit $213,000 to Replace US Money Supply! - page 3. (Read 302 times)
I dont think so, bitcoin will not replace any currency. Bitcoin will only become an alternative currency for online transaction. Although bitcoin is getting popular but its only popular among rich people, geeks, smart people, open minded people and speculative investors, so not among ordinary people, they afraid about loss money in bitcoin so they leave it.
If the goal of bitcoin is to replace fiat, that is. However, it has been discussed multiple times that bitcoin wouldn't be ultimately replacing any fiat in existence due to its deflationary nature. Aside from that, no central authority could ever handle bitcoin due to its decentralized network; if one nation is to assume control of bitcoin, this nation would ultimately break the integrity of all coins in existence, resulting into the fall of bitcoin. Assuming that bitcoin reaches $213,000 as reported by UBS, it only comes on par with the total money supply of the US, but will not be able to replace it.
According to Cointelegraph:
UBS: Bitcoin Must Hit $213,000 to Replace US Money Supply
Zurich-based investment bank and financial services company Union Bank of Switzerland (UBS) has said that the Bitcoin (BTC) price must hit nearly $213,000 to replace U.S. money supply, Bloomberg reported August 2.
According to Bloomberg, a new report by UBS suggests that BTC cannot currently be considered money or a viable asset as its versatility is stymied by the capacity constraints of the BTC network.
Read more here: https://cointelegraph.com/news/ubs-bitcoin-must-hit-213-000-to-replace-us-money-supply
UBS: Bitcoin Must Hit $213,000 to Replace US Money Supply
Zurich-based investment bank and financial services company Union Bank of Switzerland (UBS) has said that the Bitcoin (BTC) price must hit nearly $213,000 to replace U.S. money supply, Bloomberg reported August 2.
According to Bloomberg, a new report by UBS suggests that BTC cannot currently be considered money or a viable asset as its versatility is stymied by the capacity constraints of the BTC network.
Read more here: https://cointelegraph.com/news/ubs-bitcoin-must-hit-213-000-to-replace-us-money-supply
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