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by MichaelDickens
4559 days ago
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Right now, M1 money supply in the US is about $2.6 trillion (source: http://www.tradingeconomics.com/country-list/money-supply-m1). I couldn't find any data on world money supply, but extrapolating from US money supply, I'm guessing it's about $10-15 trillion. The current market cap of Bitcoin is $10 billion (source: https://blockchain.info/charts/market-cap). In the absolute best case, Bitcoin will be adopted as the de facto currency of the entire world, in which case its market cap should rise to about $10 trillion—an increase by a factor of 1000. That said, it's highly doubtful that Bitcoin will take over all world currencies in the near future. It may be reasonable to expect Bitcoin to grow, but it's almost certainly not going to increase its value by 100x in the next few years. |
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