Bitcoin has plenty of runway ahead of it.
We all know that the bitcoin market is not very big, but sometimes it helps to see some visuals.
Check this chart out:
(Source:
)https://twitter.com/tommyp408/status/1053803966947971072
- tommyp408
Currently bitcoin falls somewhere between Jeff Bezos and Bill Gates.
Those are people by the way, not the total valuation of a global money supply which may one day eclipse the value of all fiat money globally.
Some takeaway...
Currently, bitcoin is worth roughly $113 billion.
Less than Apple, Facebook, Facebook, Visa, and even Netflix.
Again those are all companies.
What's more, bitcoin would have to increase by 10x from current levels just to equal the same amount as the current valuation of Apple.
The** ENTIRE** crypto market is worth roughly $210 billion.
Meaning it would have to increase by 5x just to be worth what Apple is valued at currently.
Gold, we are coming for you...
Bitcoin is most often referred to as digital gold. A store of value that is easier to transfer, easier to use, and easier to store than gold.
Gold is currently worth almost $8 trillion.
If bitcoin were to take the entire gold market, we would have to see a price increase of 80x from current levels.
I am not sure we take the entire gold market any time soon, but you get the idea of the potential here.
Taking just 25% of the gold market means bitcoin would have to increase by 20x from current levels.
Stay informed my friends.
