Why Bitcoin may reach $ 1,000,000 💰
bitcoin·@cryptospa·
0.000 HBDWhy Bitcoin may reach $ 1,000,000 💰
## Hello dear Steemians! <br> Once again I would like to say **why I think the price of one Bitcoin may reach one day the level of 1 million dollars.**  --- ***With high probability*** one day digital money such as cryptocurrencies may displace fiat money such as the United States dollar, Euro, Japanese yen, etc. At the moment in the global financial system the U.S. dollar is the main reserve currency. According to the latest [statistics](chrome-extension://oemmndcbldboiebfnladdacbdfmadadm/https://www.bis.org/publ/rpfx16fx.pdf) of Bank of International Settlements, the U.S. dollar accounts for almost 44% of all transactions performed on the Foreign Exchange Market. That's why the U.S. dollar is considered as the dominant currency in the world. *Let's assume that* one day Bitcoin may challenge the dominance of the U.S. dollar. Of course, I would like to mention, that in my view it could happen only if the Bitcoin community solves the scalability issue of the cryptocurrency and if Bitcoin will be able to remain ***the Crypto King*** (*the major digital coin in the cryptocurrency market*). *So*, in case cryptocurrencies displace fiat money it would be quite possible that Bitcoin would be able to challenge and displace the U.S. dollar as a major currency or *a medium of exchange* in the global financial system. In this case, I think the amount of bitcoins (or the market cap of Bitcoin ecosystem) will be able to reach the amount of U.S. dollars that have been already in the global financial system. *So*, we know that the maximum supply of bitcoins is limited by ***21 million digital coins***. According to @coingecko, at the moment there are [17 601 550 bitcoins in circulation](https://www.coingecko.com/en/coins/bitcoin):  *Now, let's have a look at the amount of U.S. dollars.* According to data provided by Federal Reserve Bank of St. Louis, the [M2 Money Stock](https://fred.stlouisfed.org/series/M2NS) was approximately 14,43 trillion dollars as of February 2019:  The most interesting thing is that the amount of U.S. dollars in circulation has been rapidly increasing and many economists expect that M2 Money Stock will reach 20-21 trillion dollars in 10 to 15 years' time. *So, let's assume* that in 10 to 15 years' time the bitcoin community will be able to solve the scalability issue of the cryptocurrency. Then Bitcoin will be able to challenge the U.S. dollar as a global *medium of exchange*. In this case the market cap of Bitcoin ecosystem will equalize the amount of U.S. dollars in circulation (*the good money will just displace the bad money*). Hence 21 million bitcoins will be priced at the level of approximately 21 trillion dollars (*the M2 Money Stock at that time*). **Therefore 1 bitcoin will be at a level of 1 million dollars.** ## Please, comment and tell me what your thoughts are. --- ***A few words about me:*** *Just to let you know: I've been working professionally as a currency analyst for the last almost 13 years, and as a cryptocurrency analyst for the last 2 years.* --- ***Important! Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency trades, investments and etc.*** --- ***Sign up with Presarch Search Engine and earn PRE tokens for searches:*** <a href="https://www.presearch.org/signup?rid=579310" target="_blank"> <img src="https://www.presearch.org/images/rf/ban-4.jpg" title="Presearch" alt="presearch" /> </a> **Read About How To** [Earn PRE Tokens By Using Presearch Decentralized Search Engine](https://steemit.com/cryptocurrency/@cryptospa/cryptocurrency-market-overview-or-07-03-2019) --- ***Sign up with FreedomEX and trade SMT tokens:*** [](http://auth.freedomex.io/accounts/sign_up?ref=IDEEBA3BDA8A) --- ***Sign up with Binance*** (*the biggest crypto exchange*): [](https://www.binance.com/?ref=28017531) --- ***Sign up with crypto exchange Huobi Global Binance:*** [](https://www.huobi.co/en-us/topic/invited/?invite_code=9g3a4) --- ***Sign up with Trybe.One*** (*a blogging platform that rewards content creators*): [](https://trybe.one/ref/6999/) --- ##### <sub> **Sponsored ( Powered by [dclick](https://www.dclick.io) )** </sub> ##### [INTERESTING CRYPTOCURRENCY/BLOCKCHAIN APPLICATIONS](https://api.dclick.io/v1/c?x=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJjIjoiY3J5cHRvc3BhIiwicyI6IndoeS1iaXRjb2luLW1heS1yZWFjaC11c2QtMS0wMDAtMDAwIiwiYSI6WyJ0LTE2NzUiXSwidXJsIjoiaHR0cHM6Ly9zdGVlbWl0LmNvbS9kY2xpY2svQG5pZWw5Ni9teS1iYW5uZXJzLXRoYXQtaS1tYWRlLWZvci1kY2xpY2siLCJpYXQiOjE1NTMzMDAxNTcsImV4cCI6MTg2ODY2MDE1N30.-gFMzqWZbXmo5Hc5oquBzP5OhR6JSpK64jR-xRYVkKQ) <sup>I SELECTED THE MOST INTERESTING APPLICATIONS TO USE ...</sup>
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