Bitcoin
Could Bitcoin Price Really Hit $43 Million? Mark Moss thinks so – here’s why
On a recent episode of the “Rich Dad Radio Show,” Mark Moss, author of the “Non-Communist Manifesto,” addressed Bitcoin’s enduring appeal amid the flood of alternative cryptocurrencies like Dogecoin, Solana and Ethereum.
Moss, based on historical data, explained the significant price increases that followed previous halving events, clarifying why Bitcoin continues to be an excellent investment option.
Bitcoin’s Bold Future: A $43 Million Vision
Mark Moss paints a bold picture of Bitcoin’s future, predicting that its value will rise to an astonishing $43 million per coin within half a century. When asked about this bold prediction, Moss compared it to Uber’s disruptive rise in Silicon Valley. By capturing a fractional share of various sectors, Moss argued that justifying a $100 million valuation becomes plausible.
Clash of the Titans?!
Applying a similar line of reasoning to Bitcoin’s competition as a store of value, Moss juxtaposed his position against a myriad of traditional assets. From gold and luxury goods to stocks, real estate, bonds, fiat currency and offshore accounts, Moss has estimated the accumulated value of these traditional stores of wealth at a staggering $900 billion.
However, he emphasized the challenge of changing the mindset to evaluate wealth in terms of Bitcoin, especially with the relentless printing of fiat currency.
Effect of Bitcoin Halving
Moss clarified Bitcoin’s unique supply dynamics, emphasizing its halving mechanism, which occurs every four years, effectively halving the rate at which new supplies are issued. Simplifying the economic foundations, Moss explained that the interaction between supply and demand dictates prices. With a dwindling supply and assuming stable demand, the inevitable consequence is an increase in price – a trend seen consistently in the history of Bitcoin.
Highlighting Wall Street’s recent entry into the Bitcoin market through ETFs, Moss highlighted the amplification of demand. This convergence between decreasing supply and increasing demand aligns perfectly with fundamental economic principles, promoting an environment conducive to price appreciation.
Is scarcity good?
He compared Bitcoin’s predictable issuance of supply to fiat currencies, noting that while central banks can adjust the supply of fiat currency at will, Bitcoin operates according to a predetermined schedule. The limited supply of 21 million Bitcoins, expected to be reached by 2140, guarantees scarcity. Moss emphasized that Bitcoin’s recent halving has made it even more scarce than gold, which is historically considered one of the most difficult assets.
Also check out: Bitcoin Recovery: What is its impact on major cryptocurrencies
Is Bitcoin a better store of value than traditional assets like gold? Share your thoughts!