Is 1 Bitcoin equal to half million USD? - page 6.

ralle14

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Having a small percentage of total supply in Bitcoin and converting it to the total money of the US doesn't mean that's the real or possible price of Bitcoin in fiat. The demand will always be a big factor in the price changes and USD isn't the only fiat being used to trade Bitcoin. I also think Bitcoin could be $500k in the next several years or decade but it's not because of the m2 money supply.

squatter

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STOP SNITCHIN'

Quote from: Subal_Damudar on June 04, 2019, 05:25:42 PM

If you think about it, 0.0000048% of total US m2 money would be 504,000 usd.. half a million

So can we say that 1 Btc = $500,000?

No, not really. The M2 money supply isn't a realistic basis for Bitcoin's value -- unless Bitcoin completely replaced all cash and fiat money savings accounts -- cash, check/savings/money market deposits, mutual funds, etc. Even then, Bitcoin's market valuation is more complex than that. I suspect Bitcoin and fiat currencies will exist side by side for quite a while anyway.

It might hit $500,000 in the coming years based on its speculative investment properties alone, but I don't think it will have such a clear relationship to the fiat money supply.

Subal_Damudar

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So I was thinking.
According to Google, the 2013 estimates of total m2 money supply in US was 10.5 trillion. So if I owned 1 usd today that would be a so a very small percentage of the total number, yes?
But I can own 1 bitcoin today and that means I can own 0.0000048% of total btc supply..

If you think about it, 0.0000048% of total US m2 money would be 504,000 usd.. half a million

So can we say that 1 Btc = $500,000?

Lets discuss..

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