Here’s why $10 million in BTC is possible on U.Today

U.Today – When (BTC) crossed the six-digit milestone today and broke $100,000 for the first time, it marked more than just a historic moment in the cryptocurrency’s journey. It also sparked discussion about the foresight of Hal Finney, one of Bitcoin’s early supporters and a pioneer in the digital currency space.

In January 2009, when Bitcoin was still unknown, Finney shared a bold thought experiment that has since become legendary in crypto circles. He assumed that if Bitcoin took off and became the world’s payment system of choice, its value could theoretically be equal to the world’s total wealth.

He used estimates of global household wealth – which ranged from $100 trillion to $300 trillion – to calculate a potential price of $10 million per Bitcoin, assuming a total supply of 20 million coins.

The $100,000 milestone has caused many to reconsider this crazy prediction, including Adam Back, a well-known figure in the crypto space and one of the earliest contributors to the development of Bitcoin.

In a recent post, Adam Back looked back at Bitcoin’s growth trajectory and noted that the previous jump from $1,000 to $100,000 took almost eight years. If things continue like this, Back believes Bitcoin could reach its next phase of exponential growth in the early 2030s.

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But the path ahead for BTC is anything but linear. Back said models can change and that adoption patterns often accelerate once a tipping point is reached. Economic forces such as the potential hyperinflation of fiat currencies add another layer of unpredictability.

Hal Finney’s 2009 vision was not intended as a traditional prediction. It was more of a thought-provoking look at what Bitcoin could become. Today, as Bitcoin hits a new six-figure high, Finney’s thoughts are a reminder of the great ambitions and possibilities that have characterized the cryptocurrency since its inception.

Could Bitcoin ever reach the levels Finney envisioned? While the future is unclear, today’s milestone suggests that his early ideas weren’t completely off the mark.

This article was originally published on U.Today