Sign in
Download Opera News App






What would it be like cashing out bitcoin if it ever reaches the 10 million dollar mark

Bitcoin getting to the 10 million dollar mark is nearly impossible, let me get straight to this one, there are only 21 million BTC that can ever exist and by now there are only about a 2.6million bitcoins left to be mined, the price is around $35,734 or 3.9 million KES today. But if the price could reach 10 million dollars what would it be like?

The price of BTC being at 10 million dollars would bring the market cap to around 200+ Trillion dollars which are way beyond Apple by around 263 times which is the world's richest company, or around 9 to 12 times the US GDP, so BTC hitting the mark won't be seen anytime unless some nations hit rampant hyperinflation like Zimbabwe or Venezuela.

This would mean the fiat currency would worthless, it would be like walking into a bank and withdrawing hundreds of thousands of cash to go buy a piece of loaf, PS you will need a wheelbarrow to carry all those amounts of cash. Making it an utterly pointless exercise.

No need to worry about that because bitcoin is immune from hyperinflation, or in other words it is fungible making it a secure coin in case the economy crashes its price won't inflate leaving you with a price of worthless cash.

Content created and supplied by: zach_steven (via Opera News )


Load app to read more comments