It seems a little crazy to think of but could $BTC Bitcoin be worth over 1 million per token at some point? The simple answer is yes, but a lot goes into making that a possibility. Let's have a look...
The Current Ecosystem
Right now Bitcoin is about 7% of the way to the 1 million per token goal. A far cry from that goal. However in just a 1 year bitcoin went from a 1.6% of that goal to a now nearly 7% of that goal showing us just how fast scaling can happen.
Right now inflation is still high and dollar values are getting worse and worse. Meaning more dollars with less value and what does that do to assets? It makes them skyrocket in price.
For example a house I bought 6 years ago was worth a little over $400,000. Fast forward to today and that same house is now over $800,000. A staggering 100% increase in just 6 years or a little under 20% gain per year. It's legit crazy but so has everything else gone up. Meaning I'm not really getting anything more for my money I'm getting the same thing but at double the cost of my money.
This is where job wages and so forth come into play. Unless you got yourself a 100% raise in the last 6 years you're actully getting less "wealth" then you where 6 years ago. It's legit wild when you start thinking about it in this way.
This is why wealthy people will buy up assets to store that value such as real estate, silver, gold etc. and Bitcoin is quickly starting to come into the spotlight being that there is a limit supply of them and now easier than ever access to it. It's looked to many as a store of value in a world that continues to devalue peoples times and money that represents that time.
How We Get To $1,000,000 BTC
Over time we would get there as long as the demand remained there. That's because inflation would continue to go up and the dollar value would continue to fall. There's never really a time where your dollar becomes worth more. It's happened but it's normally for a short moment and quickly eaten up again.
So yes, over time we would get there eventually. But what about in our lifetime? What would need to happen and change for us to get to that point?
While the integration of ETFs has for sure helped and allowed for a lot of new funds to be available to bitcoin it simply won't be enough to get us to that point. What will have to happen is what we are seeing happen in El Salvador
Where countries and governments are building up their own crypto assets as a store of value into their economy.
This is where trillions would be injected into bitcoin and other cryptos at scale across the entire world.
The big factor here is the world is involved in crypto, it has more use cases and it's far easy to transfer around then other assets such as gold and silver.
So what are you thoughts will more and more governments get into buying and holding crypto?