Editorial StaffIf you’ve heard anything about Bitcoin, it’s likely been about its price skyrocketing or plummeting. But, for those who are looking to invest long term, there’s a different question that should be asked—what will one Bitcoin be worth in 10 years?
Where Bitcoin Is Going
For Bitcoin, no prediction is guaranteed, but an interesting vision shared by MicroStrategy CEO, Michael J. Saylor, is that once Bitcoin passes the market cap of gold, around $11T currently, nothing will stop it.
Saylor sees Bitcoin capable of reaching a market cap of $300T in the long run. Of course, he doesn’t give a date, because nobody can do that. He talks about a future goal.
With a market cap of $300T, the price of a Bitcoin would be around $14 million.
Why You Should Be Excited About Bitcoin’s Next 10 Years
When it comes to Bitcoin, the original cryptocurrency, here are a few reasons why its reach may increase over the next 10 years.
There’s A Finite Number Of Bitcoin To Be Had
There are only a limited number of Bitcoin in the world—twenty-one million, to be exact—so supply and demand will lead to scarcity and higher value over time. Think of it as spending four dollars per gallon at the gas pump today due to inflation versus $0.36 in 1970.
Bitcoin also goes through a halving process every four years, meaning the amount of Bitcoin rewarded through mining the currency (through a proof of work consensus) will be cut in half. This effectively cuts Bitcoin’s inflation rate in half every four years in a controlled manner that is easily tracked by anyone around the world. Compare that to the mysteries of Central Bank target interest rates and it becomes clear why Bitcoin is referred to as an inflationary hedge – it is deflationary by design.
If It’s Digital, It’s Durable
Bitcoin transactions happen digitally on the blockchain, making the currency much more durable than your typical dollar or coin. It may sound pedantic, but this is a huge step toward the digital peer-to-peer ease of transactions.
Blockchain technology is exceedingly safe and efficient, with developers building new tools to improve it every day. In fact, it’s very easy to keep track and secure your digital assets with Voyager, one of the first public crypto companies, which makes it easy to understand the crypto market and invest in Bitcoin or other cryptocurrencies. Get started with the Voyager app now.
Bitcoin Is Open
That’s right, everyone can own Bitcoin. It’s not gatekept for wealthy investors, it’s not tucked away in corporate finance offices or only offered to those who got in early. One of the magic things about Bitcoin is that you can buy it in pieces, or satoshis. This opens the investing opportunity up to anyone who wants to invest. You don’t have to buy a $32,000 Bitcoin—you can buy a fraction of it and still be able to profit off your investment.
How To Get Into Bitcoin Now
Bitcoin is a currency for the people, by the people, that is giving investors options that the traditional stock market has reserved for the extremely wealthy few. All of these factors create ample opportunity for growth over time, and market fluctuations are a sign of this upside. The crypto market offers investors opportunities that the stock market cannot, giving them a chance to revisualize what a fruitful financial future really looks like.
Benzinga contributed to this article.
