Where Bitcoin goes, only time will tell
Source: MarketWatch
I used this graph to give us a perspective of the possibilities of Bitcoin, only time will tell how far and how big it gets. The current price action continues to support a bullish outlook with BTC making higher highs and higher lows.
As Bitcoin approaches the USD 4000.00 mark, I have jumped ahead and look at another milestone that could be achieved within this year. That milestone is a market capitalization of over 75 billion USD, at its current supply of 16,502,862 BTC, that would give one BTC a USD price tag of approximately 4575.00. This would put Bitcoin firmly among the world ultra-rich net worth and reinforces a much further perspective
Source: Forbes
Taking into account, the current net worth of Jeff Bezos, who recently ranked the world richest man with a net worth of approximately 90 billion dollars set up an interesting initial target for Bitcoin. If we are to consider the current supply of 16,502,862 BTC, that would give one BTC a USD price tag of approximately 5490.00.
Thinking outside the box, the biggest implication of this, is how Bitcoin could be help with the redistribution of wealth if the poorest countries invest in it as a sovereign wealth fund.
Source: http://www.zerohedge.com/article/detailed-look-global-wealth-distribution
Probably better put, Bitcoin gives individuals an opportunity to secure their financial future with a model that has shown to appreciate over the last eight years.
I believe as Bitcoin continues to pass milestones, what is possible and what is not possible would become clearer. Today its not only Bitcoin making a difference in people lives, the technology behind it has led to innovations and inventions around Blockchain technology that seeks to improve and answer society toughest question.
At the time of writing this blog, the total cryptocurrency market capitalization stands at $134,869,366,348 with a 24h volume of $5,175,862,103 and BTC Dominance of 47.6%. Let me leave you with this perspective, "Opportunity favors the brave".