This is gonna be a really short article. It's either gonna sound so stupid or somewhat genius. so stick with me. will you?
People like to predict certain things about the future. While some people take current world events and historical data into consideration, some people just say what they want. If we talk about Bitcoin, There's a whole debate on whether Bitcoin will hit $1000000 or not. Here is my take on it.
According to Coinmarketcap, we have a current circulating supply of 19,823,031 BTC.
The current price of one BTC is roughly $95,575.
So if we do the math(19,823,031*95,575), it comes to $1.8945862e+12.
In words, you could say, It is one trillion eight hundred ninety-four billion five hundred eighty-six million two hundred thousand Dollars. That's the total value of the current Bitcoin supply in paper.
Then let's calculate the value of the circulating BTC supply if 1BTC hits $1000000.
We have 19,823,031 BTC in circulation and prediction is $1000000. If we do the math(19,823,031*1000000), it comes to a whopping $1.9823031e+13.
So in words, it's nineteen trillion eight hundred twenty-three billion thirty-one million Dollars.
That's a very large number and yes I used an online tool to know how to say those numbers in words. Basically, Bitcoin has to 10 X its current value. In conclusion for 1 Bitcoin to get 1 million dollars as its value, it requires a lot more money from the world. Right? money doesn't come from nowhere. It has to come from somewhere. So where could we find that much money in a short period of time? So here is my prediction. Bitcoin won't hit 1000000 in the near future, like let's say 2030. (just a year that came to my mind for no apparent reason.) I mean it took 16 years for Bitcoin to reach $100000 after it came into circulation as a currency. all we can do is wait and see what the future holds for us.
So what is your prediction? will Bitcoin ever hit 1 million dollars per coin? If yes, when will it be and why? that's the question from me to you today.