How BTC can replace the world fiat money supply? This is the question that is being under debate by many crypto experts and analysts. The creator of the discussion put the question that stated that one BTC can reach up to $5 Million only if it kills all the fiat currencies of the world.
One is totally aware of the current status of the digital gold but some crypto enthusiasts persist in threading unbelievable supposition about the Bitcoin price. They have started a very interesting debate on Twitter and the very respectable experts have participated in it.
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$5m per BTC
The discussion is being opened after the tweet of the user name ‘The Moon’. He distracted the attention of the crypto community towards a totally different topic that is about the defeat of fiat money by digital money. He claimed that the total value of the fiat money all around the world is about $1 trillion dollars. This is not an authentic one but the speculation of him and therefore, some counter-arguments raised upon it.
The value of all money in the world is almost $100 trillion dollars.
What if #Bitcoin kills FIAT and takes over its market cap?
That would put #Bitcoin at almost $5,000,000 per coin!!
— The Moon (@themooncarl) October 14, 2019
According to him, if all this money is being ended up by the digital gold than BTC can reach up to $5 million. This is because the total supply of the Bitcoin is 21 million and if we divided the whole money according to the number of Bitcoins in the market then the value of each coin will be counted as $5 Million.
Another crypto enthusiast entered the arena and supported the tweet of the “The Moon” by adding some more information. He said that the Bitcoin value is increased if we add the money locked in the debts. By adding the debts’ amounts, this value will expand bigger than before.
use debt – you get a bigger number 😉https://t.co/wCYD6k8ykx
— fil₿fil₿ (@filbfilb) October 14, 2019
Mati Greenspan, the senior analyst at eToro’ has made a counter comment on this tweet by saying that the money estimated in the world is even touching the figure of 3-4 quadrillion.
Were did you get that number? Pretty sure all money is closer to 3 – 4 quadrillion.
— Mati Greenspan (@MatiGreenspan) October 15, 2019