Bitcoin Price Might Exceed $1 Million, More Millionaires in World Than Bitcoins

While sources differ on the number of millionaires in the world, Credit Suisse estimates the number at about 35 million. This figure accounts for all “financial and nonfinancial wealth,” including assets, collectibles, and homes.

This is a remarkable number when compared to the total number of Bitcoins that will ever exist. While there are roughly 35 million millionaires in the world, there will only ever be a maximum of 21 million Bitcoins. That’s right--there will never be enough Bitcoins in existence for every millionaire in the world to own even a single one.

While you let that thought sink in, let’s consider what gives Bitcoin its value. Granted that there are numerous features we could cite, including a global network, an immutable Blockchain and a means to transfer wealth from one person to another without ever involving a middleman.

These are all fine features, to be sure. But what really makes Bitcoin valuable are two properties: scarcity and authenticity.

Full story at http://bit.ly/2xiBMH3

Source: CoinTelegraph

 

 

 

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