SNEAK PEEK
- Since 2013 to 2022, the value of bitcoin has increased by 2.036 every year.
- Hal Finney’s prediction turned out to be true.
- In the next decade, it has been predicted that the value of one bitcoin will go up to $10 million.
Adam Back tweeted on February 13, 2023, that from January 2013 to December 2022, the price of bitcoin had increased by 2.036 percent per year. With this analysis, he predicted that within 10 years, the price of bitcoin will hit $10 million and the market cap will be $200 trillion.
early this year i was curious of the claim "bitcoin 2x's per year on average". it checks: the decade jan 2013 – dec 2022 #bitcoin went up 2.036x/year (1200x in a decade). if that continues we'll cross $10mil/BTC and $200 tril market cap by end of next 2 halvenings, about 9 years. pic.twitter.com/mqmO2SRdAv
— Adam Back (@adam3us) February 12, 2023
The Bitcoin Core factor, which contributes, clarified to his 509,000 believers how Hal Finney’s BTC price prediction of $10 million could turn out to be true.
adoption could have hyperbitcoinization spurts, where rapid viral adoption nukes a weak currency in a hyper-inflationary frenzy, and domino crash 20 bottom-tier currencies. people get pragmatic, adapt fast if they see fiat melting, a rush of others protecting savings via #bitcoin
— Adam Back (@adam3us) February 12, 2023
Back stated that Bitcoin’s price has increased year on year on average since 2013, and that if this pattern continues, Bitcoin’s value will attain $10 million, in addition to a $200 trillion capitalization, in about nine years. He also claimed that in order for that estimate to be achieved, advancements in Bitcoin layer-2 advanced technology and wallet infrastructural facilities must be accelerated to allow more time for these developments to be measured.
Bitcoin acceptance has not yet reached the bottom of the S-curve, with only 1–2% of the worldwide population using it.
The CEO described that the following wave of adoption may include “hyperbitcoinization spurts,” in which people in highly inflationary surroundings “rush” to bitcoin. Back admitted that they had totally failed to financialize bitcoin thus far.
You think bitcoin twitter is bullish? Hal Finney (@halfin), was calculating a bitcoin price of $10,000,000 per coin just ONE WEEK after the the genesis block on January 3rd, 2009.
— Doc (@DrBitcoinMD) August 23, 2019
Absolute legend. pic.twitter.com/5MptLhEYHL
BTC would also be required to “displace” a major fraction of the store of value premiums in bonds, property investments, gold, and investment portfolios in order to reach $10 million.
