Bitcoin to 100k? I think so!

Bitcoin to the Moon! But first $100,000

Bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto. Transactions are verified by network nodes through cryptography and recorded in a public dispersed ledger called a blockchain.

Bitcoin is unique in that there are a finite number of them: 21 million. I personally believe it will crush $100,000 at some point.

As of the time of this writing, there are roughly 18,981,843.75 million bitcoins in circulation. That leaves just 2,018,156.3 million more than the current market cap of Bitcoin.

With such a small number of coins left to be mined, and with the ever-growing demand for Bitcoin, it’s not hard to see why many experts believe that Bitcoin will hit $100,000 in the next few years. I agree that Bitcoin will not only reach but exceed $100,000.

Investors are already anticipating this scarcity, which is why the price of bitcoin has been steadily rising in recent months, despite occasional dips. In fact, Bitcoin has outperformed nearly every other traditional investment in the past year.

What’s more, Bitcoin is increasingly being seen as a safe-haven asset, meaning that it tends to hold its value better than other investments during turbulent times. So not only is Bitcoin’s price likely to continue increasing but it could be adopted as a legal currency. Who knows? I do know the Fed Reserve banking system would probably not like that idea.

Apple’s Wozniak Thinks Bitcoin is going to $100,000

According to the co-founder Steve Wozniak 

“I think Bitcoin is going to go to $100,000,” he said. “I don’t know where I get that feeling. I can’t put any mathematics to it. I just really feel it based on all the interest. The interest in crypto is so high.”

This isn’t the first time that Wozniak has spoken positively about Bitcoin. In an interview with CNBC in January, he said that Bitcoin is better than gold and even the U.S. dollar.

Bitcoin to the Moon! $100,000 here we come! I sound like one of those Wall Street Betz guys.

Why does it make sense for Bitcoin to reach $100,000?

Here are some reasons why Bitcoin could reach $100,000.

• Bitcoin is finite, with only 21 million coins in circulation

• Bitcoin has been steadily increasing in price in recent months (Until the recent sell off) Cryptos have been getting hammered

• Bitcoin is increasingly being seen as a safe-haven asset

• Bitcoin outperforms nearly every other investment in the past year

• The co-founder of Apple, Steve Wozniak, believes that Bitcoin will reach $100,000

What the heck will happen when all 21 Million Bitcoins Are Mined?

At the moment, most of the miners’ income comes from block rewards. There will be no block reward to pay to miners once all 21 million bitcoins are mined. A fee is attached to every Bitcoin transaction. This money will be used to compensate miners instead of the block reward in the future.

The Bitcoin network will still require a large amount of electricity to function properly. The fees collected from each transaction will go towards paying for the energy needed to keep the Bitcoin network running.

It is estimated that once all 21 million bitcoins are mined, the Bitcoin network will need at least $1 billion worth of electricity per year to function. This could increase the price of Bitcoin significantly.

I recently just wrote about Bitcoin here.

Final Thoughts

In short, Bitcoin is likely to reach $100,000 due to its finite number of coins, steadily increasing price, popularity, and as a safe-haven asset. The future of Bitcoin is looking bright! If you truly believe Bitcoin to be the future do not get discouraged by the recent sell-off and see it as a buying opportunity.

What do you think? Will Bitcoin reach $100,000 in the next few years? Let me know in the comments below.

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Disclaimer: This article is for information purposes and should not be considered professional investment advice. It contains some forward-looking statements that should not be taken as indicators of future performance. Every investor has a different risk profile and goals. All investments have risks. Always do your own research or hire an expert before investing and trading in the stock market.