How to Get to $1 Million Per Bitcoin
I have been around Bitcoin and cryptocurrency for a good while now, but only until recently has this idea of Bitcoin hitting $1 Million Dollars made sense to me. Now it isn't because all these analyst and gurus are saying it, but because it seems that the whole cryptocurrency ecosystem is beginning to accept this idea.
Several years back, mainstream media would not even mention Bitcoin or cryptocurrency. Fast forward to 2019, and now you have mainstream investor news sites explaining how to buy Bitcoin, and interviewing Billionaire Cryptocurrency investors like Michael Novogratz.
Now the next phase seems to be getting Bitcoin and Satoshis into everyday conversation. Facebook has now put cryptocurrency on notice the World over, giving even the most ardent of Crypto naysayers pause to consider. In fact, the World over is now searching Bitcoin even more now on Google per Google Trends. Not quite as many searches as during 2017's massive Bull Run, but should Bitcoin get closer to its all time high again, that could change substantially since now Facebook has piqued the World's curiosity for all things crypto, especially Bitcoin.
Bitcoin is going mainstream globally, and more and more people are starting to talk about Bitcoin and how it works. Many are now coming to learn that Bitcoin is divisible into 100 Million units or smaller pieces of Bitcoin known or called Satoshis, in honor of the Bitcoin founding father, Satoshi Nakamoto. In fact, I now hear and see people talking about trading other crypto-coins based on the price per Satoshi. I have seen articles on Steem price mentioning how Steem was at an all time low in Satoshis, not Dollars. When I asked a friend about an investment in Pundi X, he replied by stating how many Satoshis he paid for it and how many Satoshis he was profiting, when I was expecting an answer in Dollars.
That is when the idea hit me, that maybe Satoshi even envisioned the day when a Bitcoin would be worth $1 Million US Dollars. In fact, he probably designed it that way because 100 Satoshis being equal to 100 U.S. cents, or $1 US dollar would then make 1 whole Bitcoin worth $1 Million US Dollars. If Bitcoin once again hits $20,000, then next year's prediction of $100,000 per Bitcoin will really start to look realistic with $1 Million becoming more and more a reality.
What does this mean for other crypto-currencies?
What does it mean for Steem?
In my opinion, Bitcoin will become the Gold Standard, and will be used to transact such as in purchases and trades. Yet, I believe that like Gold, it will become more of a Wealth Reserve while the rest of the cryptos are what the World uses on the daily. Although not all cryptos will survive, the ones that have strong community, participation and development will be the ones that make it. Steem is one of these, that's for sure. I mean, look at Dogecoin. Not to bash on Dogecoin but simply comparing it to Steem and its strong community will insure Steem's success, just like the Dogecoin community has insured theirs.
As they say in the Dogecoin Community.... To the Moon!