It's almost like one of those movies where the stars are thrust into an alternate dimension or some point in the future where headlines show something exactly like this one.

"Bitcoin Hits $10,000"

However, this is reality. This is already happened... today. Bitcoin sits at $10,078.00 currently and anyone who thinks it's "too late" to get involved is dead wrong.

This is one milestone out of many to come with some estimates of bitcoin's value exceeding $300,000 within the next 3-5 years.

Replacing Money

After all for true mainstream adoption the price needs to be much higher. At $10,000 bitcoins total market capitalization is around $167 billion. There's over $75 trillion "dollars" in circulation today. That's a discrepancy of $74.8 trillion ... nearly $75, which means bitcoin value is far less than 1% of all the money in the world.

Bitcoin needs to be worth $1 million USD for the smallest denomination, called a satoshi, to be worth 1 penny. Even then bitcoins total accumulative value would be $16.7 trillion or $21 trillion with all bitcoin mined.

Since that's not going to happen until year 2140 bitcoin would need to be worth much more than $1 million USD to really contend with currency.

Forget the Moon, We need Mars

There's also the current rate of inflation to deal with which is 3.15% globally so as incredible of a milestone as $10000 may well be, it's far from over.

Although it has been an fantastic rise this year from $1,000 to $10,000 in less than 12 months. It's also likely that a correction could happen early 2018. If that happens, buy as much as you can because it's likely the lowest price you'll see in the foreseeable future. 

The point of all of this is that it's never to late to involve yourself with bitcoin. 

Get on it!

[accordion] [item title="Author and Credits"] Article by dinbits
Image Credits: Banner Image by staff
[/item] [item title="Disclaimer"]The opinions expressed by authors of articles linked, referenced, or published on do not necessarily express, nor are endorsed by, the opinions the of or its affiliates. Please review the Terms of Use for more information.
[/item] [/accordion]

Post a Comment

Powered by Blogger.