That doesn't refute what I said. Without an expansion of the money supply, which would be extremely harmful to our country, how does BTC expand 10x?Bag said:The market cap of of gold is 10x BTC or $20T I see no reason why BTC cant get to at least the market cap of gold. Gold is not the monetary standard yet it sits at $20THeineken-Ashi said:Two things..Bag said:now do $1m BTCTxAG#2011 said:
Bitcoin jumped more in 5 minutes that the entire price when I first bought it lmao.
I remember sweating 4k down to 3.2k
1% up or down is $10,000, if you are sitting on 10 BTC then ordinary movement 1-2% will be $100-$200k
the numbers get stupid after a while
1. For $1M BTC at the existing money supply, there would have to be some combo of gold, silver, equities, and bonds absolutely decimated where money moves to BTC and BTC gains market share against them. This is the "BTC is going to become the monetary standard" scenario.
2. For expanded money supply to get to $1M BTC, the payments for interest on the debt would likely be 2-4x higher than they are now, and they are already unsustainable. We would be on our way to becoming Greece financially, which hasn;t ever worked out well for any country that has hyperinflated. This is the "BTC continues to be the ultimate risk asset" scenario.
Either BTC is going to $1M in option 1, or BTC is not going to $1M and the money supply actually shrinks back to where it was pre-2020, aka, a mass liquidity event. BEcause should it get to $1M in option 2, it's just an even larger bubble with a much harder pop coming. Considering BTC moves up WITH risk assets, and has never once been a safe haven during risk-off events, mostly following the trajectory of the Nasdaq, even option 1 is not likely.