Future of Bitcoin

I have noticed lately that many people have been asking whether or not it is too late to invest in Bitcoin and the answer is no. There is currently around 16,000,000 Bitcoins in circulation, and when they are fully mined, there will be a total of 21,000,000. Although Bitcoin may seem expensive, the limited supply will drive up the value due to market demand. If Bitcoin keeps growing at the pace it has been, there is significant potential for it to see explosive growth, making even a single Bitcoin extremely valuable.

To illustrate, the chart below, taken from the Global Wealth Report, shows how many millionaires were in the world in 2016. There were 32 million millionaires. There is no possible way every millionaire can hold even a single Bitcoin, there is simply not enough to go around. Since there are already investors taking sizeable positions in Bitcoin (BTC) — 5,748,032 BTC belong to the top 1,000 accounts. That means approximately 35% of all BTC in circulation belongs to 1,000 people. Since most of these investors are likely long-term holders, the remaining BTC become what is available to the open market, and with every long position, the scarcity increases, driving up the price of all Bitcoins.

When Bitcoin takes off, millionaires across the globe will be scrambling to get in. Once the barriers surrounding the mass adoption of Bitcoin have been chipped away, institutional investors, such as hedge funds, will start to flow in. When institutional investors start to flow in, demand steadily increases until the media catches wind and mass adoption accelerates rapidly, driving up the demand for Bitcoin and therefore the value/return to investors. I still feel like Bitcoin is in it’s infancy stages and will continue to see extremely satisfying valuations due to increased demand and such a limited supply.

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