๐1/18: Want to see #Bitcoin hit $1,000,000? ๐ค The journey to that coveted $1M mark is an interesting one. Let's dive into what it actually takes for #BTC to reach that unit bias, and if it's even realistic! ๐งต๐
๐ญ2/18: Since my first day in #crypto 7 years ago, the question of how BTC can reach $1M has been constantly repeated. Can it really happen? Let's explore! ๐ต๏ธโโ๏ธ
๐3/18: $21 Trillion might seem huge, but the global economy is vast and growing, especially amidst high inflation. However, $21T might not be the magic number for #Bitcoin to hit $1M. ๐ค
๐งฎ4/18: Time for some math! Let's unpack the factors that could push Bitcoin to $1M per coin, and see if it's wishful thinking or a realistic possibility. ๐ก
๐5/18: Currently, only 22% of circulating BTC supply is liquid. This chart shows the supply of Bitcoin that hasn't moved in the past year. It's been growing steadily since 2020, which is surprising! ๐
๐ค6/18: You'd think illiquid coins would turn liquid when #BTC price skyrockets, right? Well, that does happen, but on a macro trendline, the illiquid supply continues to increase. ๐ฐ
๐ผ7/18: Data shows that a lot of Bitcoin is moving to smaller hands, with more and more people HODLing BTC in their own wallets each year. The network keeps growing! ๐ฑ
๐8/18: This illiquid supply is important for our discussion. To reach a $21T market cap, we don't need every Bitcoin to catch a bid โ just the liquid coins. The liquid supply will dwindle as coins are moved to wallets. โ๏ธ
๐9/18: Supply and demand drive every market force. An interesting theory: for every $1 that bought BTC, the net market cap increased by $2.6 on average. ๐
๐10/18: This multiplier effect can be seen in BTC and smaller market cap coins too. When you buy a significant amount, the market cap increases by more than the amount you bought. It's all about liquidity! ๐ง
๐11/18: With 78% of BTC supply illiquid, exchanges receive bids and market makers start moving. So, when $1M goes out to buy BTC, the market cap might increase by $2.6M. ๐ข
๐ฏ12/18: Using a 3x multiplier, if $8T flowed into BTC, we might see it hit $1M per coin. The market cap of gold is currently $13.193T โ not so far-fetched, right? ๐ฉ
๐13/18: Conclusion: I've been a net buyer of BTC for 7 years, always ending up with more than the year before. I'm an optimist and a realist, and I believe Bitcoin will flip the gold market cap. ๐
๐ฐ14/18: Gold is worth $13T now and thriving amidst the banking crisis. But to me, Bitcoin is superior gold โ digital gold for a digital era. It offers easy storage and global, permissionless transactions. ๐ฅ๏ธ
๐ถ15/18: The Bitcoin market is still tiny, with a current market cap of $546B. For #Bitcoin to flippen gold, we would need a 26x increase in the current price
๐ฎ17/18: While reaching $1M per coin might be a stretch, the growth potential for #Bitcoin is undeniable. It could very well surpass gold's market cap and change the financial landscape as we know it. ๐
๐18/18: So, whether it's $1M or not, the future of Bitcoin is bright! Keep an eye on this digital gold as it continues to evolve and transform the world of finance. ๐ #BTC #Crypto
Bitcoin likely has much higher prices. The capped nature make it a perfect asset for speculation. If the other metrics continue to grow, which they should, then it only seems likely the price will increase also.
๐ญ2/18: Since my first day in #crypto 7 years ago, the question of how BTC can reach $1M has been constantly repeated. Can it really happen? Let's explore! ๐ต๏ธโโ๏ธ
๐3/18: $21 Trillion might seem huge, but the global economy is vast and growing, especially amidst high inflation. However, $21T might not be the magic number for #Bitcoin to hit $1M. ๐ค
๐งฎ4/18: Time for some math! Let's unpack the factors that could push Bitcoin to $1M per coin, and see if it's wishful thinking or a realistic possibility. ๐ก
๐5/18: Currently, only 22% of circulating BTC supply is liquid. This chart shows the supply of Bitcoin that hasn't moved in the past year. It's been growing steadily since 2020, which is surprising! ๐
๐ค6/18: You'd think illiquid coins would turn liquid when #BTC price skyrockets, right? Well, that does happen, but on a macro trendline, the illiquid supply continues to increase. ๐ฐ
๐ผ7/18: Data shows that a lot of Bitcoin is moving to smaller hands, with more and more people HODLing BTC in their own wallets each year. The network keeps growing! ๐ฑ
This is true. There are so many users like me who are holding $BTC for longer than three years and do not have full #BTC yet.
๐8/18: This illiquid supply is important for our discussion. To reach a $21T market cap, we don't need every Bitcoin to catch a bid โ just the liquid coins. The liquid supply will dwindle as coins are moved to wallets. โ๏ธ
๐9/18: Supply and demand drive every market force. An interesting theory: for every $1 that bought BTC, the net market cap increased by $2.6 on average. ๐
๐10/18: This multiplier effect can be seen in BTC and smaller market cap coins too. When you buy a significant amount, the market cap increases by more than the amount you bought. It's all about liquidity! ๐ง
๐11/18: With 78% of BTC supply illiquid, exchanges receive bids and market makers start moving. So, when $1M goes out to buy BTC, the market cap might increase by $2.6M. ๐ข
๐ฏ12/18: Using a 3x multiplier, if $8T flowed into BTC, we might see it hit $1M per coin. The market cap of gold is currently $13.193T โ not so far-fetched, right? ๐ฉ
๐13/18: Conclusion: I've been a net buyer of BTC for 7 years, always ending up with more than the year before. I'm an optimist and a realist, and I believe Bitcoin will flip the gold market cap. ๐
๐ฐ14/18: Gold is worth $13T now and thriving amidst the banking crisis. But to me, Bitcoin is superior gold โ digital gold for a digital era. It offers easy storage and global, permissionless transactions. ๐ฅ๏ธ
๐ถ15/18: The Bitcoin market is still tiny, with a current market cap of $546B. For #Bitcoin to flippen gold, we would need a 26x increase in the current price
๐16/18: That would put $BTC at $728k per coin. It may not be $1M, but it's still an impressive number! ๐ช
๐ฎ17/18: While reaching $1M per coin might be a stretch, the growth potential for #Bitcoin is undeniable. It could very well surpass gold's market cap and change the financial landscape as we know it. ๐
๐18/18: So, whether it's $1M or not, the future of Bitcoin is bright! Keep an eye on this digital gold as it continues to evolve and transform the world of finance. ๐ #BTC #Crypto
Nice. Did you prepare your threads beforehand and copy pasted? :P Just curious.
Read my full #hive #leofinance post on how $BTC could reach $1M:
https://alpha.leofinance.io/posts/view/khaleelkazi/what-does-it-really-take-for-bitcoin-to-reach-1-million
Bitcoin likely has much higher prices. The capped nature make it a perfect asset for speculation. If the other metrics continue to grow, which they should, then it only seems likely the price will increase also.