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Bitcoin could easily go to $100K and then some...

avatar of @revisesociology
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Zebedee
@revisesociology
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2 min read

A number of high profile crypto-commentators such as Plan B, have predicted Bitcoin to hit at least $100K before the middle of the next decade, and I'm inclined to agree....

Just 1% of the world's wealth invested into crypto would = $100K Bitcoin @60% market dominance.

This, I think, is one of the most powerful arguments for Bitcoin hitting $100K at some point (I wouldn't want to predict when!), as 1% is a relatively small hedge.

The statistics...

According to Credit Suisse, current global wealth stands at $360 Trillion.

Currently, hardly any of this is stored as cryptocurrency:

Or it's probably clearer here:

If just 1% of that $360 trillion of global wealth were transferred over into cryptocurrency, then we'd end up with a total crypto market cap of £3.6 trillion.

If we divide that by 21 million (the total number of BTC to be minted) then we end up with a BTC price of around $170K.

But given there are other cryptos, let's multiply that by 60% to allow for some of the alts to develop and maintain their market share, which gives us a Bitcoin Price of just over $100K.

I did a spread sheet! With super cool E numbers and everything!

It really wouldn't take much to boost the price of BTC to $100K or more.

  • Just 10% of gold wealth transferred to crypto gives us $35K BTC (approx 60% of the $51K in the chart to keep in line with the 60 dominance.

  • 10% of the world's wealth and we're at $1 Million BTC.

Of course it might not be BTC!

$100K BTC will only be the case IF 1% of global wealth gets invested into crypto and 60% of that goes to BTC - it might well be that a combination of other what are now called 'alt's but might in the future be called 'once were alt' coins which soak up who knows 90%, 95% of potential investment....

So maybe we'll get $2000 ETH, and/ or $50 LEO and $50K BTC - to give us a total crypto market cap of the equivalent of $100K BTC.

And we all know that's a possibility, otherwise we wouldn't all be having so much fun having a punt on this and that hopefully to be once were alt coins!

Sources

  • This is a great source which I used for the stats above! - All the World's Markets in One Visualisation.
  • This article from Coindesk runs through some interesting scenarios along the same lines as I do above - just 2% of US Household wealth in BTC gives us 6 figure BTC according to this, but I don't think they take into account the dominance affect!

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