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RE: BTC Hash Rate hits another all time high (and other cool things)

in #bitcoin • 5 years ago

It would be interesting to see BTC worth $1,000,000 one day.

In order to get their I think it will take more than being a store of value and a crypto on-ramp.

5 years ago in #bitcoin by
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     5 years ago 

    For it to reach that number, probably needs to be more, though not impossible.

    The entire gold market is worth roughly $8 trillion currently, which is mostly a store of value market. At $1 million, bitcoin would be worth $21 trillion (when all coins are fully mined), quite a bit higher than the gold store of value market.

    Though, perhaps money from other stores of value, like real estate and collectibles would also venture in...

    I wouldn't say it's impossible that bitcoin achieve that valuation while mostly "only" being a store of value, but I agree that it may be difficult.