Does graphs make everything more clarified? Maybe they do shine a bit of light on how a trend is going, or making it just a shit note with lines all crossed, but still, still gotta mean something. So guys, it's another day to keep our fingers crossed on this internet money shit, it ain't easy trusting the process at all, but maybe, just maybe a little fixation on on-Chain data could boost the spirits. The question is, do you actually trust this? Do you believe in Bitcoin? How about cryptocurrency at least? Is $1 Billion for 1 BTC outrageous? Is there any other currency that's best valued at that?
I could go ahead with more and more questions, but I'm sure I wouldn't get that much of a response to get me to sell my house, my sister's, my brother's and probably also my dad's and throw it all on Bitcoin, run away and return in prolly two decades to reimburse, quite a dream anyone could have. As much as I wouldn't wanna believe anyone's words concerning investment assets, I've always been the type to stick to my guts, unless it takes a different turn the next second, minute, hour, day, weeks, months or even years. But let's just give this guy the benefit of doubt, could this be real? Does this chart prove shit?
Jurrien Timmer, Director of Global Macro at Fidelity, presented earlier this month a method of valuing bitcoin that predicts it reaching $1 billion per coin in about two decades by circa 2038.
Timmer combined in one chart the stock to flow model together with his own demand model as shown above. For his demand model, he says:
“Metcalfe’s Law holds that, as the number of its users grows linearly, a network’s value (or, by inference, the bitcoin price) grows geometrically.
In other words, bitcoin’s utility (value) should grow much faster than does its network of buyers, sellers, exchanges, ATMs, and participating retailers—at this time including, directly or indirectly, AT&T, Wikimedia Foundation (donations), the Dallas Mavericks, a few insurers, many banks, and countless small businesses.”reference
Different people have their own approaches in determining value in assets, I'd say the man putting in more effort in presenting pre records, data, and analysis is most likely to gain my attention than the ones just bluffing shits in disagreement out of hate(you could guess who).
It's official, $1 million BTC is an easy catch, there are various reasons why that is possible and above. In the current days, it's obvious how many people are chasing after that millionaire status, it's a pleasurable position to be in, and looking at how huge figures are becoming mere ones by the day, don't you think an asset valued $47k today replenishing the system with wealth could be worth a ton going forward? It takes demand to beat the odds, forget regulations, forget authorities, the real impact in this industry comes from the growth in user-base backed by buying pressure in the markets. Let attention be given to the growing population with great interest to build firm foundations for future establishments, there's only so much those numbers of people could do to the crypto life span. The industry expansion in users is the greatest achievement, in decades, demand will beat supply, now guess how expensive assets will be bidded? $1 Billion or $10 Trillion?
Time will tell
