What is hyperbitcoinization? How Can it Propel Bitcoin’s Value To $10 Million?
The post What is hyperbitcoinization? How Can it Propel Bitcoin’s Value To $10 Million? appeared first on Coinpedia Fintech News
Analyst Scott Melker and sound money advocate Lawrence Lepard’s recent discussion explained the challenges and potential solutions for Bitcoin investors, while also providing details into his long-term views on the asset. Lepard sees Bitcoin as a transformative and enduring investment, one that could eventually replace traditional forms of money like gold and silver,
When asked about Bitcoin’s potential future value, Lepard explained that while dollar values might eventually become irrelevant, Bitcoin could reach extraordinary levels. He suggested that in the long run, items might be priced in Satoshis rather than dollars, describing a scenario of hyperbitcoinization.
Lepard referenced the power law model, which he considers a reliable indicator, noting Bitcoin’s price could reach hundreds of thousands, then millions, and eventually up to $10 million per Bitcoin over decades as it gains wider adoption. He said that while he hopes this transition happens gradually to avoid dystopian outcomes, he believes Bitcoin’s superior qualities will inevitably lead to its widespread adoption.
The Shift from Gold to Bitcoin
He clarified that while he manages a gold and silver fund with plans to sell for profit eventually, his approach to Bitcoin is different. He views Bitcoin as a multigenerational asset, intending to hold it long-term.
Although he might sell a small portion of his Bitcoin in retirement to cover costs, he believes the monetary premium of gold and silver will diminish over time, while Bitcoin’s value will continue to rise. He added that this shift will occur gradually over decades, not overnight.
He said, “I actually think the power law is a pretty decent model.I mean, you can’t ignore that. And so, we go to hundreds of thousands, then we go to a million, then we go to 5 million, and then we go to 10 million. I mean, these—and I’m talking decades here, not tomorrow, you know—but decades as this better form of money becomes more widely adopted.”
Also Read: Crypto Bull Run 2024: Altcoins Break Out of Key Pattern
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