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Bitcoin [BTC]’s price could be worth $1 million if it becomes “world money”, says Ryan X Charles

Ajay Narayan

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Bitcoin's [BTC] price could be worth $1 million if it becomes "world money" says Rayan X Charles
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Recently, Ryan X Charles, CEO of Money Button, uploaded a video sharing his views on the current state of Bitcoin [BTC] and how its real essence was to create a financial system wherein sound digital money can be provided to the world.

Ryan stated that Bitcoin revolved around the idea of creating sound digital money which was inclusive of everyone in the world. Furthermore, individuals could participate in trade with entities in a manner where it was impossible for a third party to block or freeze their payments. He added:

“Let’s say someone in Venezuela can participate in trade with someone in the United States without having any bad actors trying to leech away all your value.”

He further elaborated on the definition of Bitcoin at scale in the context of Bitcoin’s price. Ryan stated that if Bitcoin was used as “world money” then it would be easier to estimate how much it would be worth.

Assuming that fiat currencies were still a medium of exchange, Bitcoin’s price in context to fiat currency could be estimated in terms of its money supply. He spoke about the different measures of the US dollar supply where M0, M1, and M2 were the different ways of measuring the currency supply.



According to Ryan, in the case of US dollar, M2 had about $14 trillion in its money supply and by adding all the different currencies together it will approximately be valued at $21 trillion.

He added that this 21 trillion could be divided by 21 million Bitcoins’ which is the maximum supply of Bitcoin as the limit is “hard-wired” into the protocol. This assumption, according to Ryan, clearly suggests that a Bitcoin’s price would be close to $1 million. Ryan further stated:

“So that is a rough estimate of the future value of Bitcoin and what is it going to be if it’s world money… and the value could actually be more than that because by the time we get there the economy itself will have grown.”





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Ajay Narayan is a full-time journalist at AMBCrypto. He has majored in Economics, Political Science and Sociology. His interests are inclined towards writing and investing in cryptocurrencies.

Bitcoin

Craig Wright withdraws evidence, US Presidential Candidate emphasizes on crypto-regulation and more

Priya

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Craig Wright withdraws evidence, US Presidential Candidate emphasizes on crypto-regulation and more
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Daily Crypto News – April 18

Craig Wright withdraws email evidence: The self-proclaimed Satoshi Nakamoto withdrew the email evidence submitted to the court with regard to Kleiman case. This news comes days after some members in the community suggested that the email evidence was “fake”. Notably, the evidence was withdrawn as Wright could not verify the timeframe of when the emails were exchanged.

To know more, click here!

US 2020 Presidential Candidate urges the need for cryptocurrency regulation: Andrew Yang, the United States 2020 Democratic Presidential candidate, released a new policy, which emphasized on the need for regulating the digital asset place, and also listed the actions he would do for the cryptocurrency market as the President. On his official Twitter handle, Yang stated that, “Investment in cryptocurrencies and digital assets has far outpaced our regulatory frameworks”.

To read more, click here!

Bitcoin SV network witnesses yet another blockchain reorganization: It was reported that Bitcoin SV’s network witnessed another blockchain reorganization on a 128 MB block, with over six blocks orphaned [#578640–578645]. Moreover, Bitcoin SV’s network was unresponsive for over an hour.

To read more, click here!



Craig Wright takes on evidence and law: In a recent blog post, Wright speaks about proving to be the creator of Bitcoin, Satoshi Nakamoto. He stated that, “the important thing to understand is: law is law. Code (programs and algorithms) in any form is merely evidence… You see, ownership of the key is not proof of anything other than the possession of a key”

To read more, click here!





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