Is Bitcoin Destined to be Worth $1 Million USD? Experts Weigh In, Bitconnect

Is Bitcoin Destined to be Worth $1 Million USD? Experts Weigh In

Is Bitcoin Destined to be Worth $1 Million USD? Experts Weigh In

The world of Bitcoin is still a very, very puny fish in a massive ocean of global financial services. It is so petite that no whales have truly even bothered to truly manipulate the market since the epic bubble that was Mt. Gox’s demise three years ago. However, it is always joy to desire about what a little Bitcoin could one day become. Could it be one day worth one million USD?

This actually began with a Business Insider article by Henry Blodget, who got caught up in the bubble that was Mt. Gox at the time. At the time of his November two thousand thirteen article, Bitcoin had reached a fresh all-time high of $340 USD on its way past $1100 USD later that month. He used the $1 Million dollar number as clickbait (as I am not above doing), only to hedge his bet and say Bitcoin could also be worth $0. He wasn’t willing to take a stand on Bitcoin, but hey, it got him over 100,000 views.

Today, after Bitcoin has matured some and added many features and investment capital, where do we stand on that potential vision? A few leaders in the Bitcoin community and investment have weighed in. Let’s begin with Wences Casares, the CEO of bitcoin service provider XAPO, who said at TechCrunch two thousand fifteen and the bitcoin.com forum:

“I think that there is a higher than fifty percent chance that a bitcoin is worth more than a million dollars. It is hard to estimate how many people on bitcoins, but it may be somewhere inbetween thirteen and fifteen million people right now. If Bitcoin is successful we will see hundreds of millions of people own Bitcoin and, eventually, billions.”

“The only way we can get to billions of people possessing Bitcoin is by the price going up by several orders of magnitude, let’s say $1 million. So, if I am right, and Bitcoin has to go from $390 to $1,000,000 the best way for it to get there without crashing irreversibly is with as much volatility as possible.”

Financial analyst Rick Falkvinge, a frequent guest on Max Keiser’s “The Keiser Report” on Russia Today shares Max’s enthusiasm about Bitcoin’s potential future value (Max Kaiser also believes this value may be in the cards for Bitcoin one day). If Bitcoin takes as much as 10% of the transactional currency market:

“This leads us to a target market cap of six hundred billion to six trillion USD, to be fulfilled by about six million bitcoin, which makes for effortless calculations. That means that each bitcoin would be worth $100,000 at the low market cap and $1,000,000 at the high market cap.”

Trace Mayer has used his RunToGold.com website to also sing the praises of Bitcoin, and refer Gold and Silver investors to the digital currency. He believes that Bitcoin’s long-term value should exceed $1 million USDand may be closer to $Trio million USD

“If you moved just 1% of the cash balances from offshore tax haven bank accounts, which presently hold estimated thirty trillion dollars of value if you stir just 1% of that into bitcoin you are looking at Two.8 million dollars per bitcoin,” says Mayer.

It's all just pie-in-the-sky speculation, but the real question may be what will a USD be worth in the future? It has lost about 97% of its value since the Federal Reserve Act of 1913. China and Russia would love to see the U.S. Dollar lose its global reserve currency status in the near future, causing its value and request to plummet almost overnight.

With Bitcoin proving itself to be one of the world’s top economic safe havens, I see no reason to doubt the future value of Bitcoin. However, in the future, a million dollars indeed won’t be a million dollars. We may be valuing Bitcoins against an ounce of gold sooner than you think.

Author : Evander Clever

Evander Clever worked for many years as a Wall Street banker, and has learned how the economy is self-destructing from the inwards. His travels, practice and research have led him to Bitcoin as the best way forward for the common man. He looks to spread the word on how Bitcoin can help anyone break the fetters of economic slavery being created by global establishment compels. Evander gets you thinking about what money truly is, and how it will work for you going forward. The world of finance is getting ready for incredible switches, and he is getting ready for what's coming next. Are you? Learn more about "The Future of Money" @ Bitcoin Movie University

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