BTC is a short form for BitCoin.
BTC is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.
History
On 18 August 2008, the domain name bitcoin.org was registered. Later that year, on 31 October, a link to a paper authored by Satoshi Nakamoto titled Bitcoin.
Ticker symbol: BTC
Year released: 2009
Notable team members: Satoshi Nakamoto
Maximum supply: 21,000,000 (21 Million)
= 17.5 million Bitcoin are in circulation as of May 2020.
= Bitcoin is unrestricted — meaning it isn’t regulated specifically —
in 124 countries out of 257.
= The largest holdings in a single Bitcoin address contains 255,502 Bitcoin — or more than US$2.1 billion.
China Rolls Out Pilot Test of Digital Currency
For two days in a row last week, amid coronavirus-related market meltdowns, a group of stocks on China’s main exchange moved so significantly that they triggered automatic circuit-breakers designed to halt trading. But trading was suspended not because the stocks plummeted. It was because they soared.
The explosive rally of digital currency-related stocks followed news that after several years of anticipation, China’s government released a timeline for rolling out its new digital currency in four cities.
Future of BTC
Why it will touch $1 Million USD?
MATHEMATICAL model of BITCOIN Price Prediction
BTC Price is precisely working as per the above model
BTC chart can compare from the above model and you can find 85 to 95% Accuracy at all time period
2019-2020 Price prediction = $10000
Current Price = $9800
2022-2023 Price prediction= $100000/1 BTC
2025-2026 Price prediction = $1 Million/ 1 BTC
2029-2030 Price prediction = $10 Million/1 BTC
Up to 2030 we have Given our prediction and adding more numbers by analyzing wallet Transactions.
2013 to 2017 = 120K Individual Doing transactions.
2017 to 2020 = 6.5 Million wallet Transaction.
2020 to 2030 = 400 Million wallet Transaction.
Till now numbers are increased by 54 Times within 2020 in comparison to 2013 to 2017. Supply will remain the same only but as the demand is increasing it will reach our Updated Target soon.
Current Market Capital
300 to 400 Billion Dollar
Market Capital Target = $100 Trillion in 2029 to 2030
Chamath Palihapitiya – $1,000,000 (by 2037)
Chamath Palihapitiya is the Founder of Social Capital and Co-Owner of the Golden State Warriors. His Bitcoin journey started with an investment back in 2012, and by 2013 he had included Bitcoin in his hedge fund, general fund, private account. At one point, he owned 5% of all Bitcoin in circulation.
Wences Casares – $1,000,000 (by 2027)
Wences Casares is the Founder and CEO of Xapo, a Bitcoin wallet startup, and a board member at PayPal, among various other roles. Casares first found interest in Bitcoin due to high financial volatility in his home country Argentina’s native currency, the Peso. The tech giant bought his first Bitcoins in 2011.
John Pfeffer – $700,000
John Pfeffer is a partner at London-based family office Pfeffer Capital. He’s set a bold price target for Bitcoin of $700,000—about 175 times the current Bitcoin price of nearly $4,000. Pfeffer said that Bitcoin is the world’s first viable replacement for gold.
Mark Yusko – $400,000
Mark Yusko is the billionaire investor and Founder of Morgan Creek Capital. His prediction for Bitcoin is that it’ll be worth over $400,000 in the long term, a statement that made headlines because for its grandiose scale.
“It’s just math. It is gold equivalent…there are about 20 million Bitcoin available today. Gold today is about $8 trillion. That gives you $400,000. And that doesn’t include use cases that relate to currency,” Yusko said.
Bitcoin at $1 Million is Becoming A Lot More Realistic
The $1 million price target for bitcoin needs to be taken a lot more seriously. Crypto was easily the best performing major asset class over the past five years, and many believe the trend will continue for another decade or longer. The Senior Vice President of IBM, Jesse Lund, made a similar $1 million prediction at the Think Conference in February:
There is $100 trillion in fiat money circulating around the globe, with 1% of that in USD. If bitcoin passes the greenback as the world’s #1 reserve currency, then bitcoin’s total market cap would reach $1 trillion. With bitcoin already at 0.1% global adoption, this would represent 10X or 1000% growth which is not crazy, and wouldn’t be the first time its posted returns like this.
With only 20 million bitcoin in circulation, each bitcoin would be worth $50,000; at 5% each bitcoin would be worth $250,000; at 10% each bitcoin would be worth $500,000; and at 20% global adoption, bitcoin would finally hit the $1 million mark and would probably keep going.
PRACTICAL TARGET OF BITCOIN IN 2031 $1 MILLION, ABOVE STATISTICS, ARE 5% OF TOTAL TRANSACTION OF BONDS/EQUITY OR 100% OF GOLD
36% YEARLY GROWTH TILL 10 YEARS
TOTAL SUPPLY OF BTC IS 21 MILLION
OUT OF WHICH 2.5 MILLION BTC ARE LOST
REMAINING = 21-2.5=18.5 MILLION BTCIF BITCOIN PRICE REACH $1 MILLION
TOTAL MARKET VALUATION
21 MILLION (SUPPLY) X 1 MILLION PRICE = $18.5 TRILLION DOLLAR VALUATION
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