The Future of Bitcoin: Predictions and Possibilities
The idea is that Bitcoin will become the world's preferred medium of monetary exchange over time. Forget the dollar and the Euro. Gold bars are already an uncommon form of payment, and in this scenario, alternative payment-focused cryptocurrencies like Litecoin (CRYPTO: LTC) and XRP (CRYPTO: XRP) never catch on.
Bitcoin's guaranteed scarcity is the core argument for firmly dedicated bulls. Only 21 million coins will ever be minted, though you can split each one up in 100 million Satoshis (CRYPTO: SATS). So there's a hard limit to the amount of available Bitcoin assets, while the global demand for this stuff could grow to the moon.
And it doesn't take a complete Bitcoin victory to bring this coin to a $500,000 price point. Of the 21 million coins that will ever exist, more than 99% will have been mined by 2035. So the total value of every Bitcoin at that price would be approximately $10.5 trillion.
That's about half the value of gold today. Estimates vary, but the total value of above-ground gold is at least $19 trillion.
The timeline for Bitcoin replacing other assets is up for debate, of course. A wholesale revolution where every country and all their citizens forget about old-school currencies just 10 years from now may be overly optimistic. Still, even a partial replacement of just thegold marketwould lift Bitcoin to $500,000 or more.
