RE: What Does it Really Take for Bitcoin to Reach $1 Million?
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Actually, to this date, there are so many coins other than Bitcoin to make remittances. But Bitcoin is still the Bitcoin and the king because of its security and degree of geographic decentralization.
In the early days when the concept of satoshi was contemplated, it was argued and deliberated that it has been designed in a way that each satoshi will be worth 1 USD one day. I am not going to make the claim that Bitcoin will hit 1 Million USD in 3 months or that early. But I personally anticipate that by 2030, BTC will reach 1 million USD.
Regardless of the sophisticated app and 2nd layer economy we have in crypto, BTC will be seen as a different commodity in the crypto domain.
The backing behind the BTC since its inception is by elites, you must be wondering who are those people who from 2012-13 to this date never sold BTC. The 5 yr HODL curve is ever-increasing in BTC. Put simply, in the context of scarcity, BTC is truly a scarce coin.
Yes exactly. It’s kinda funny when people compare other cryptos to BTC. You simply can’t. Network effect is what keeps companies like Facebook, google, apple in businesses. It’s the same thing that keeps and will remain to keep BTC the top dog in crypto
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