During these times, it is expected to witness the compliance of high-profile investors, who have Bitcoin as a primary target. If we focus on a certain group or a sample, it is very interesting to see how a certain concept will produce different reactions on all aspects, and if we take into account that these group members can be a very good indicator if we’re trying to study the reactions of a larger demographic group, so their reactions might help us find out whether they can be applicable to a more broader demographic.
As time is passing, the number of people that are using crypto and who are being exposed to the Bitcoin trend will continue to grow more and more, and it’s safe to say that even currently we’re talking about large numbers. So far, the bigger the collection of information we have, the more we are able to try to learn about the specific argument and then we can start to better understand and explain what the outcome is expected to be. Slowly but surely, we’re leaving the hypotheticals behind and we are heading directly towards a new idea of a transition into a world where we are able to know where the ongoing rise in popularity of Bitcoin is headed.
One of the most common ways that Bitcoin is valued consists of using gold as a framework and this is how the Winklevii get their case for USD 500,000 BTC from, the same as Guggenheim’s USD 400,000 prediction, among many others. The calculation works by dividing world’s gold value and that of bitcoin. These projections are not fast to take place though, as they could end up taking decades in order for them to finally be able to show up https://bitqh.app/.
Meanwhile, as we like to nitpick these projections as they encompass all different types of gold available (jewelry, central bank reserves, electronics. investment gold) into one form and they probably will need to be adjusted along the way, we can arguably accept this idea.
But the same as with many different projections it can show different ways of looking at the matter, optimistically or quite conservatively. Gold as we know it today, in the past used to be regarded in the same way as money, but the modern society that we live in always contemplated different ways of moving towards more practical financial solutions. According to a survey of 2019, the majority of people prefer stocks or real estate as a wealth preserving method and view gold as a potential niche asset.
With this in mind, where is Bitcoin headed?
People who are optimistic on this matter think that bitcoin is able to come on top of the global rate of money circulation. People who dwell more on this topic have concluded that if we want to approximately know bitcoin’s total addressable market it is somewhere around the USD 100 trillion of global broad money. But these different analyzations miss the point of explaining why money as we know it today is so unsuccessful when comparing it to the idea of what it could potentially have been.