Lately, there has been lots of talk about how the Bitcoin market could drastically swing up if the crypto were to be widely adopted as the top means of payment in digital form. As a matter of fact, it wouldn’t be far-fetched to opine that such a scenario isn’t really entirely impossible. There have been a number of blockchain and crypto-focused startups trying to come up with payment solutions to fit that bill.
Bitcoin’s Future From Ryan’s Angle
However, it’s what the influential people are saying that’s catching most people’s attention. Case in point is the latest opinion by Ryan X Charles. Ryan is the CEO of Money Button. In a video he uploaded, Ryan shared his opinions about the current Bitcoin situation vis-à-vis Satoshi Nakamoto’s vision of an excellent global digital payment system that should be all-inclusive while eliminating the need for prohibitive third parties.
To get his point across, Ryan gave the example of a Venezuelan transacting with someone in the United States without having to go through any third parties like banks and government agencies while still keeping criminals at bay. From a social point of view, such a secure and trusted system could very easily be accepted and globally validated as the best possible means of transacting, especially in trades that involve cross-border transfers.
Just $1 Million, Or More?
And then he started talking about the price of Bitcoin and how it could reach a million dollars without breaking a sweat. In this account, Ryan made his calculations based on the supply of fiat money in comparison to Bitcoin’s supply that’s been capped at 21 million coins. Currently, the total supply of USD is $14 trillion. If all currencies are summed up, the figure comes to $21 trillion. From his simple math, Ryan gets that in gauging the fiat money supply against the total Bitcoin supply, a single Bitcoin would be worth around $1 million.
Going further, Ryan noted that the $1 million figure is just a rough estimate of how much Bitcoin could be worth if it really became the world’s chosen token for money. Since the adoption campaign is still ongoing and global acceptance of Bitcoin could take some time to be realized, it also means that economies would have grown bigger. In that context, Bitcoin price could even be much higher than the estimated $1 million.