Bitcoin who's the next Millionaire?
Bitcoin craze looks like it's going back up again we've seen Bitcoin hit an all-time high of over $50,000k and people are speculating that it will reach 1 million dollars! Will it reach $1 million dollars? it's a possibility and here's why.
The total supply of Bitcoin is limited to 21 million. there's only 21 million bitcoins at the moment that could be mined. But there is another way of branching off and splitting and to make a different version of Bitcoin which is already done Bitcoin cash Bitcoin Plus and a bunch of other Bitcoin knockoffs. Currently there is 18.5 million bitcoins that have been mined that leaves less than 3 million so in the rule of supply and demand if Bitcoin is the only king of cryptocurrency you would obviously think that people would want to get more so you're going to have the hoarders holding on to it and then you're going to have the people who really want it.
Right now with the miners active currently being upgraded they are saying the probability of all the bitcoins to be mine will be in year 2140.
But that also leads to the question will Bitcoin reach $1 million dollars we all will say yes it'll reach 1 million dollars but you know there could be a downward trend and Bitcoin actually can drop back down to one cent nobody really honestly knows, but I'm a firm believer that the world currency will adapt to digital currency and you know pretty much in the future will eliminate hard Cash tangible cash besides maybe gold and stuff like that cuz you can use it for other things but you know who am I just a critic.
I know you were probably hoping that I would give you the answer if Bitcoin would reach 1 million dollars well yeah it could take your Bitcoin that you have if you have one put it on an exchange and listed for million dollars you know cash to line out there you might have some bites you might be the next well so we'll never know so stay tuned and keep riding the wave.
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