I'm bullish on XTZ -- even after Tezos set a record for the biggest ICO in history. Here's what we know:
The Tezos Foundation raised roughly $232 million between July 1 and July 14, 2017. When the genesis block finally goes live (at a date TBD), 763,306,929.69 XTZ will be born. If things stay 1:1, each Tezzie would be worth about $0.30.
We're probably not going to see a 1:1 price, though. In fact, XTZ futures are already trading at a big premium on HitBTC. As of this writing, you could buy an XTZ IOU for .00034900BTC ($1.19 USD). That would imply a market cap of $908 million+ for XTZ.
What if that's just the beginning? Let's set a medium-term price target of 50% of Etherum's market cap for XTZ. That would mean all the XTZ in the world would be worth a combined $14 billion, and each XTZ would trade around $18.50. If XTZ eventually overtook Etherum, each Tezzie could be worth $37.
How much would that yield your average ICO investor? Let's take a look:
Per this post from Tezos, the 50th percentile for contributors are expecting 2,332 XTZ (after investing roughly $1,200). At our medium-term price target of $18.50, they'd be holding $43,142! Double that to $86,284 if XTZ were to somehow overtake Ethereum at today's prices.
Pie in the sky?
Only time will tell.
NOTE: This post is entirely speculative. For all I know, the genesis block might never happen. I was just curious about what could happen if XTZ somehow managed to overtake ethereum.
Do you remember when in 2015, people still thought that bitcoins were worthless?
Even with the current developments, I think we're only seeing the beginning. What an exciting time to be alive and have front seats at the show!
$2.08 now. Even if it goes no further I can live with that as that's more than double my investment.
It'll be interesting to see if HitBTC's futures reflect the actual trading price. HitBTC isn't very transparent on their futures. I'm not even sure how many XTZ they're selling.
xtz is interesting coin but eth is on the move for the next step. Tezos is just @ the beginning... It takes several years to climb @ that technical point where eth is and they develope the next stage..