2021 will be the year of bitcoin and here is why.
January 2020, bitcoin market cap: $150,000,000,000
December 2020, bitcoin market cap: $545,000,000,000
Market cap/monetary network/monetary energy increased nearly 400 BILLION in one year...there are only 900 bitcoin mined PER DAY.
If every bitcoin mined for all of 2021 (900x365=320,850) is sold at $35,000. The 'market cap' of bitcoin increases ~2% by 11.5 billion...However...if the market cap were to increase by same amount as 2020 (400 billion) while every bitcoin person HODL, the price paid per bitcoin would need to be 1.1 million! (an increase of 400,000,000,000 of market cap could only be divisible by mined coins 320,850-if miners didn't decide to HODL themselves). If everyone HODL, with the same Ape like tenacity as like what is going on currently with GME. There would be supply side squeeze and mania would ensue to get in to bitcoin. By the time this would happen, bitcoin would literally become a black hole where value cannot escape as nothing else would come close as a store of future value, thus hyperbitcoinization.
I'm not selling my BTC.
I don't think this is actually realistic this year...but who knows? Curious if it is even possible? Please, someone shoot holes in this theory. With so much bullish news this past week including papa Musk posting on twitter about bitcoin. We could be witnessing the transformation of global (or should I say interplanetary) reserve currency before our eyes!????
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from Bitcoin - The Currency of the Internet https://ift.tt/2YuiBsH
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