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bitcoin will be 1 million

Yassine Elmandjra, Blockchain & Cryptoasset Analyst at Cathie Wood's ARK Invest, says the price of Bitcoin could exceed $1 million by $1 million is a pretty reasonable estimate for My estimates for one Bitcoin will hit $1 million are probably to I'm high and I. As bitcoin has a maximum supply of 21 million, it is much closer to gold than other cryptocurrencies, the report noted. The crypto could reach a. FOREX TUTORIAL FOR BEGINNERS PDF CREATOR

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This makes Bitcoin scarce and ultimately keeps its price high. As more BTCs are mined as supply diminishes, demand will rise and the price will follow suit. That, coupled with the halvings happening every 4 years, could propel Bitcoin to very high price levels. There will be 2 halvings within this decade.

Also, the growing adoption and influx of institutional funds into the Bitcoin market will play a huge role in its rise. Dennis is a content writer with a deep understanding of the blockchain domain and cryptocurrency field. He infuses cold data with flair to make technology and finances mind-blowing.

What does Bitcoin do? To adopt Bitcoin is to either use it as payment in transactions or buy a lot of it and hold it long-term storing wealth. It is relatively slow, expensive, and cumbersome to use for small, day-to-day transactions. Other alternatives, like Solana, are more suitable for this use case. However, as a store of value, Bitcoin is unparalleled.

In fact, Bitcoin is gaining acceptance by big investment banks like J. Remember, Bitcoin is a network: If more people join, everyone in the network gains value from it. The more people that join the network and adopt Bitcoin, the more attractive it is for outsiders to join as well.

The bigger it gets, the faster it grows. This network effect leads to exponential growth and is an unstoppable force when it gets going. Bitcoin Needs Clear Regulation: This is important because institutions and businesses are held back by the lack of clear regulation. We need the regulation to get more institutional adoption. Also, I will present a simplified version of the real world.

The U. Dollar will not remain the bedrock of our financial system forever. Today, the U. We price all major commodities like oil and lumber in U. What makes USD valuable and suitable as the bedrock of our economy? To recap quickly: Our current economic bedrock is the U. Dollar, which is backed by the promise of a central bank and a government. In the old system, all currencies were backed in U. Dollars, but the U. Dollar was then backed in Gold.

Under the Gold standard, banks could not create more FIAT than they had gold, making excessive money printing impossible. Placing Gold at the bottom of everything, making it illegal to create more FIAT currency than they held Gold, kept banks in check. This has been broken repeatedly, as central banks mess with the value of FIAT currencies all the time. The main distinction between the old system and the new system is this: Back in the day, it was hard to create new money.

Today, it is easy to create new money. Having something as soft as FIAT, which can be created arbitrarily at the will of a government, is nothing short of a catastrophe. For example, The Roman Empire started to remelt their coins, watering them out to create more coins with the same total amount of valuable metals.

Unsurprisingly, this caused inflation and economic downturn and was a significant contribution to the collapse of The Roman Empire. Governments and central banks are incentivized to think short term. FIAT increases the wealth gap by stealing from poor people and giving to rich people.

How does this affect those who own stuff versus those who own nothing? They have their savings in FIAT, which only decrease in value.

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