What Happens When Bitcoin Hits $100,000?

When BTC approaches a market cap of $2 trillion, that’s when the real fun begins.

This updated article was originally written about 4 years ago when the price of Bitcoin was around $60,000 — about 3 years before the approval of BTC EFTs.

The Bitcoin network really hasn’t been around very long — about 14 years. Nonetheless, it’s now the biggest thing since… well, since anything, really.

Bitcoin is a global decentralized monetary network. Just like the internet, no one owns Bitcoin. It’s essentially a bank that’s owned by the people who use it.

Metcalfe’s Law and the value of the Bitcoin monetary network

Many have heard of Moore’s Law which says that computer technology will double every 18 months or so. That rule of thumb has been on track for many decades now. But there’s another law with which people are less familiar, but which is a very powerful tool for measuring the growing value of a network. (We could just replace the word “network” with “organization.”)

Metcalfe’s Law basically says that the value of any communications network is proportional to the square of the number of connected users of the system. As the network grows, the value grows…