During an interview Josh Sigurdson conducted with blockchain expert Stephen Kendal, Stephen broke down his firm belief that Bitcoin will hit 1 million dollars and onwards based on both the mathematical fundamentals as well as the mass adoption we are currently seeing.
Bitcoin’s value is based around the same framework as gold’s value is based. Scarcity, demand, application. There is not a lot of gold or silver on this planet, so it’s scarce, but it’s also in demand and sees a lot of use. Bitcoin will only have 21 million coins ever, ending in the year 2140.
At the 7 year daily average rate of growth, Bitcoin should hit $250,000 USD by the year 2020 easily. So considering the vast climb over the past year alone, the notion of it hitting a million is incredibly simple.
Stephen Kendal breaks down what he attributes to the recent rally of Bitcoin, the mass adoption phase we’re seeing, the misunderstanding of many pundits applying the fundamentals of the derivatives market incorrectly to Bitcoin and of course the phenomenon that is Bitcoin Cash.
Stay tuned as we continue to report on these issues. We want solutions to the serious problems we face right? Well it looks like we’re being dealt a good hand on that level.
Video edited by Josh Sigurdson
Graphics by Bryan Foerster and Josh Sigurdson
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