Bitcoin (BTC) Price to Target $1,000,000 After COVID-19 and Analyst Explains Why
https://u.today/bitcoin-btc-price-to-target-1000000-after-covid-19-and-analyst-explains-why
https://twitter.com/QWQiao/status/1246672665210949633
Why not? I can perfectly believe it, if in 2019 someone had told me that a motherfucker virus would kill and paralyze the world, they would not have believed it either.
More importantly gold is not some magical material blessed by the gods. It's just a thing, no reason to use it as a cap.https://u.today/bitcoin-btc-price-to-target-1000000-after-covid-19-and-analyst-explains-why
Quote
Lots of people think that Bitcoin’s total addressable market is ~$7T because that’s the marketcap of gold.
Problem is, with so much #brrr going on gold can easily triple from here.
So the digital gold thesis now puts Bitcoin’s TAM at ~$20T, or $1M per coin...
Problem is, with so much #brrr going on gold can easily triple from here.
So the digital gold thesis now puts Bitcoin’s TAM at ~$20T, or $1M per coin...
https://twitter.com/QWQiao/status/1246672665210949633
Why not? I can perfectly believe it, if in 2019 someone had told me that a motherfucker virus would kill and paralyze the world, they would not have believed it either.
And as always, we consider the price in the current dollar value. The brrr is not even relevant.
Yeah, but, even though we seem to be living in very crazy-ass times, there should be limits to outrageousness, even with BTC's likely exponential growth possibilities with the money printer go brrrrrrr.
We had a bit more than 100x exponential price growth in 2013-ish and then 78x exponential price growth in late 2015 to late 2017, and the above-linked article is projecting about 150x for this next time around (with BTC prices at $1 million-ish), which just seems to be way too much in such a short period of time.
Even though we are in strange times, I would put 78x as the cap, and 50x as a more realistic run.
Furthermore, we do not need to reach or surpass gold parity on this exponential growth time around, it could take a couple more cycles, even though I do agree with your overall underlying premise, Ibian, that bitcoin is likely a better asset than gold, so ultimately bitcoin remains quite likely to surpass gold's marketcap, and even to grandly surpass it, but I just have problems presuming that bitcoin will surpass gold's marketcap in this particular expected upcoming exponential cycle (presuming that we are still on target for such upwardly exponential BTC price run within about the next 4-20 months).
