Chart Showing Value of Bitcoin Versus Other Forms of Wealth
Every year since it was created, people have watched bitcoin go up and up, and every year they think that it’s now too late to get in, because it’s already so valuable. Yet, it continues to rise and people regret not buying some.
How far can bitcoin really go?
In my opinion, it has a very long way to go. Why? The fact is that everything in the world is going digital. Not just photos, but everything else as well. Eventually, our human intelligence, merged with technology, will go that way too, probably by the end of the century. In the meantime, money is on its way to become just bits and bytes, in the form of Bitcoin and other cryptocurrencies.
Even at today’s “sky high” value of Bitcoin of $2000+, the total amount of bitcoin is only a tiny fraction of the value of other forms of money, as shown by this chart:
You can see from this chart that even just Bill Gates by himself could buy all the bitcoins and altcoins.
What this means is that for money to “go digital”, the value of cryptocurrencies is going to have to eventually become far larger so that the world’s cash has enough liquidity to function in a digital economy. How much will that be? Certainly $50 trillion or more, which means that all the cryptocurrencies together will need to grow in value by 600 times or more.
So which to invest in?
You can spend months just reading about all the 700+ cryptocurrencies out there, but what I’m doing personally is diversifying into ALL of the top ones, with the big three (Bitcoin, Ether, and Ripple) getting twice as much of my investment dollars. I figure that in 10 years, even if I never touch them again, perhaps 80% of them will go to zero, but the other 20% will be worth 500 times what they are now, which will mean that my investment has gone up 100 times. And with some strategic buying and selling, perhaps I can double that.https://virtualrealitytimes.com/2017/05/30/chart-bitcoin-versus-other-wealth/https://virtualrealitytimes.com/wp-content/uploads/2017/05/Chart-Comparing-Bitcoin-to-Other-Types-of-Wealth-537x640.jpghttps://virtualrealitytimes.com/wp-content/uploads/2017/05/Chart-Comparing-Bitcoin-to-Other-Types-of-Wealth-150x90.jpgBitcoinCryptocurrencyTechnology DiscussionEvery year since it was created, people have watched bitcoin go up and up, and every year they think that it's now too late to get in, because it's already so valuable. Yet, it continues to rise and people regret not buying some. How far can bitcoin really go? In...Geoff McCabeGeoff McCabe[email protected]AdministratorVirtual Reality Times