What If Bitcoin Doesn't Make It To $10T Market Cap?
Let's take a step back by asking a more important question:
What is Blockchain?
The best definition of Blockchain I have ever heard of to date is
A chain of encrypted data blocks organized chronologically
Refer slide #11 of Blockchain, Bitcoin, Money for further illustration.
Blockchain is about data integrity.
Bitcoin is Blockchain's best use case. It is the proven and best use case for:
Transfer of value over the digital realm securely and transparently.
It's a monetary system without manipulation, e.g., no double-spending, not inflationary, etc.
Anyone knowledgeable can cross-check and verify the system through open-source programming code and immutable transactional history.
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What If Bitcoin Doesn't Make It To $10T Market Cap?
While Bitcoin's super cycle narrative is quite tempting, my view on this is that somewhere between $0 and $10T is good enough.
Focus on the problems it solves, not the pricing in terms of fiat.
When we focus too much on the price volatility in fiat, we may overlook Bitcoin as a technology-driven monetary system.
Life finds its way, and time will tell, always.
#NFA #DYOR
P/S:
(1) ChatGPT's answer in summary:
While a $10 trillion market cap would be an impressive achievement for Bitcoin, its failure to reach that milestone doesn't necessarily mean its end. Bitcoin could still play a significant role as a store of value, or even as a digital alternative to traditional currencies, but it might not displace global financial systems or surpass gold in terms of market value. The future of Bitcoin will likely depend on ongoing technological advancements, market sentiment, and how well it adapts to global financial needs.
(2) The virtues of Bitcoin:
“Bitcoin promotes financial sovereignty. Its decentralized, censorship-resistant design allows individuals to retain full control over their money, free from government interference or inflationary manipulation.”