Snapchat Investor Thinks Bitcoin Could be Worth $500,000

Posted onLeave a commentCategoriesBitcoin, Business, Cryptocurrency, Success

I found this article on Yahoo News. It is by Jonathan Garber Business insider dated April 8, 2017 The article is titled

 “The first investor in Snapchat thinks bitcoin could realistically be worth $500,000 by 2030”

But the cryptocurrency isn’t anywhere close to its potential, according to Jeremy Liew, the first investor in Snapchat, and Blockchain CEO and cofounder Peter Smith. In a presentation sent to Business Insider, the duo laid out their case for why it’s reasonable for bitcoin to explode to $500,000 by 2030.

Their argument is based on increased interest in bitcoin, thanks to…

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 This is also congruent with other articles posted here on this site-

 Back to the article from Yahoo News…

The article goes on to list three reasons and six basic model drivers for this reasoning..

  1. A bitcoin price of $1,000 in 2017.

  2. That network users will grow 61x from now until 2030. “Put another way, we need a population of bitcoin users around a quarter of the Chinese population (or 5% of the global population) in 2030 to see bitcoin at $500k,” Liew and Smith told Business Insider. Bitcoin’s user network grew from 120,000 users in 2013 to 6.5 million users in 2017, or about 54x, and this could be just the beginning. Growth of that magnitude would produce 400 million users in 2030.

  3. The average value of bitcoin held per user hits $25,000. “As institutional investor cash in Bitcoin, sophisticated investors trading Bitcoin, and Bitcoin-based ETFs proliferate, we think the average Bitcoin value held will increase to around $25k per Bitcoin holder,” Liew and Smith said. Currently, with a market cap of $16.4 billion, and 6.5 million user count, the average user holds $2,515 worth of bitcoin.

  4. Bitcoin’s 2030 market cap is decided by number of bitcoin holders multiplied by average bitcoin value held.

  5. Bitcoin’s 2030 supply will be about 20 million.

  6. Bitcoin’s 2030 price and user count total $500,000 and 400 million, respectively. The price is found by taking the $10 trillion market cap and dividing it by the fixed supply of 20 million bitcoin.

Read the article in its entirety at  Yahoo News

This is super encouraging news for fans of Bitcoin and Cryptocurrency investors globally!

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