Bitcoin continues to be the most important crypto. There are nearly 6000 coins and they are all trying to be like Bitcoin and to be money. Also, everybody are trying to be a store of value and is trying to compete with fiat currencies.
An investment strategies expressed that Bitcoin is eating the world. He further expressed that it has become a supermassive black hole that is sucking in everything around it and destroying it. This narrative is only going to grow over the next 18 months. You see, gold is breaking down versus Bitcoin and gold investors will flip to BTC.
In response to this opinion, Michael Saylor tweeted: “For the first time in history, we have a software network capable of storing & channeling monetary energy without power loss. Bitcoin is the first digital monetary network. As investors & enterprises come to realize this, the consequences will be profound.”
Other investor opinions are interesting as they consider Bitcoin to be a multigenerational asset. Peter Brandt, Futures/fx career trader recently opined that, there is a possibility for Bitcoin to register its highest monthly closing price ever.
Cameron Winklevoss, the Cryptopunk expressed, “When asking people if they own Bitcoin, you are bound to get a bunch of yes and no answers. But if you ask people who own bitcoin, if they have enough, the answer will always be a resounding NO.”
An interesting reply from another user was: From my experience in the past year or so is that 99% who are early bitcoin miners would never disclose that they mined it or have it at all, which isn’t helping the cause, then is the 1% Elite who do and this is in form of companies like exchanges.
In a similar air of thinking, Sydney Ifergan, the crypto expert tweeted: “I agree with the idea of someone who stated that 98% of the world is short of Bitcoin.”
Carlos J. Fernández-R from Venezuela stated, it is well known that only 21 million Bitcoins will come into existence, with 18.53 million created so far. The last is expected to be created around the year 2140.
To the common idea of whether 21 million Bitcoin will be enough for the entire population in the world one of the statements from made sense: Although 21 million BTC might seem insufficient with a world population of 7 billion people, the bitcoin currency is highly divisible. The smallest denomination allowed by current software is 10^-8 BTC, which has been defined as 1 Satoshi.
There are therefore 100 million satoshis in a single bitcoin, and therefore the maximum supply of 21 million BTC will be equivalent to 2.1 quadrillion satoshis or, if you prefer, 2,100 trillion satoshis.
Steven is an explorer by heart – both in the physical and the digital realm. A traveler, Steven continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Steven and through his business acumen has gained financial profits as well as fame in his business niche. Send a tip to: 0x200294f120Cd883DE8f565a5D0C9a1EE4FB1b4E9
Get the latest Crypto & Blockchain News in your inbox.
