If every US citizen that receives a stimulus check wanted to buy 0.1 BTC… it wouldn’t be attainable. There isn’t enough : Bitcoin
And that is being overly beneficiant. There might probably solely be lower than zero.04 btc per particular person to go round… if nobody else on the earth buys any earlier than them. Someone check my math if I am off, however thought this might be attention-grabbing to theorize.
I’m not saying that this might occur (as it undoubtedly wouldn’t.) Just questioning what’s even attainable if the demand elevated that a lot.
So right here we go: Of the $2.2 trillion stimulus package deal, approx $300 billion goes out as $1,200 stimulus checks. Which would be divided up for 250 million residents.
Current provide of bitcoin is round 18 million cash mined. However it is estimated that Three-Four million are misplaced endlessly. So for example that our precise provide out there to commerce is 15 million (conservative guess).
If the present complete provide mined is 18 million, approx 11 million cash (60% of the full provide) have not moved from their pockets in 2 years. If we subtract the estimated Three million misplaced… That leaves eight million unlost cash have been held for a minimum of 2 years.
For arguments sake, for example that Three million of these holds will promote if the value elevated and the opposite 5 million will proceed to maintain. That would go away Three million that would go from maintain to circulation plus the 7 million that are newly minted or already circulating.
= my estimate of 10 million cash out there for market demand
Divide the 10 million cash by the 250,000,000 residents with a stimulus check and also you get zero.04 BTC per particular person…
Now might somebody work out a theoretical worth level if demand reached that excessive? My guess would be to get a mean fee of improve vs provide and quantity through the 2017 bull run to see the speed of worth improve as provide diminishes.
Again, that is no prediction. Just wanted a higher image in my head of how uncommon having 1 full BTC goes to be.