Now a day, bitcoin is at the top of the cryptocurrency’s list. Accordingly, bitcoin gained fame only in 9 years, read on to find out more about what bitcoin is worth today.
According to the first investor in Snapchat Jeremy Liew and Peter Smith co-founder of the blockchain, Bitcoin is not going to leave its strength. They estimated that the Bitcoin will hit $500,000 by the year of 2030.
All the settlements of the bitcoin move from country to country. World Bank shows the gross product data of last 15 years is 0.76%. Foreigner sends money back to their home. According to the Peter and Liew’s reviews, they found the expensive alternative in form of the Bitcoin. In that scenario, we can say that with the awareness of the bitcoin, its percentage of the settlement also increases day by day.
According to the both, bitcoin popularity increases in US, UK and in developing countries. They said, at the consuming and investment level, bitcoin liquidity, its uncertainty, easy ways of transfer making it more flexible and impressive. This is the huge possibility that bitcoin’s market outperformance will make the bitcoin a strong competitor.
Peter and Liew said that next years will the time of smartphones. Because noncash transactions will move from 15% to 30%. right now, penetration of the smartphone is 63% which may increase to 78% (63+15), or 93% (63+30). And, this is the expectation that users of the mobile will expand to 1 billion by 2020. GSMA reported that 90% users of this technology are from developing countries. In addition, this makes the easy approach to everything. Everyone has the bank in his pocket, which provide an enhancement to the bitcoin. Accordingly, 50% of the all noncash transactions could be accounted by the bitcoin.
Basic model drivers are as follow;
- bitcoin price in 2017 is $2809.77
- bitcoin supply by 2030 will be 20 million
- 2030’s value and the user of the bitcoin will up to $500,000 and 400 million. Whereas, a value is calculated by taking $10 million market cap and dividing it by 20 million bitcoins (amount of fixed supply of Bitcoin).
- Market cap of Bitcoin 2030 year is calculated by multiplying the number of the bitcoin holder with its average value.
- market cap of the bitcoin is $16.4 billion, means each user contain $2,515 worth of bitcoin. Accordingly, it will be increased to the $ 25,000.
- Bitcoin users increase from 120,000 to 6.5 million in 2017. It could be the beginning, means growth would be 400 million in 2030.
Smith and Liew views
These above are the rough estimation for the year of 2030. Now a day, China plays and important role in bitcoin technology. which means bitcoin is nearly 100% responsible for trading in bitcoin. However, three well-reputed exchanges announce the fee of 0.2% fee on each transaction.
According to the Smith, Bitcoin is at its beginning stage. He says, “The SEC’s ruling wasn’t a surprise to us,”. In addition, he gets that sort of approval. He includes, bitcoin is too much easy to use, whether it is buying or selling process. And, also getting mature in assets sense. We will examine the development of the bitcoin.
Countries are still at the strife stage. As bitcoin didn’t get regulatory approval in the US. Whereas, in Japan, cryptocurrency is legal payment.
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