NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitcoin Could Swell To $1.5 Million If It Absorbs All Fiat and Gold Holdings

Nick Chong
Nick Chong
1 year ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Bitcoin (BTC) was built to be an alternative to the traditional of finance. While Satoshi Nakamoto, the creator of the cryptocurrency, never explicitly made such a comment, many have come to understand this underlying raison d’etre.

Former Blockchain.com product manager Dan Held, for instance, once issued an extensive 47-part thread on Twitter to claim that Satoshi meant to build a new backbone fo the financial system, rather than a peer-to-peer digital cash system in and of itself.

While the crypto godfather’s dream has yet to come to fruition, some are convinced that it is only a matter of time before Bitcoin begins to make a noticeable move on fiat currencies and Wall Street.

Bitcoin Is The Hardest Money… Ever

Travis Kling, the chief investment officer of Ikigai that “fell down the Crypto rabbit hole,” recently took to Twitter to issue what he called a “bear market reminder.” In a bid to keep diehards of this space optimistic, even as the Bitcoin price has remained stuck between a rock and a hard place, he remarked that BTC remains the “hardest money we’ve ever had in the history of humanity,” echoing rallying cries touted by Saifedean Ammous.

Bear market reminders- BTC is the hardest money we've ever had in the history of humanity. Print this out and put it next to your computer.

h/t @crypto_voices pic.twitter.com/XDCioztkcJ

— Travis Kling (@Travis_Kling) February 19, 2019

Alongside his innocuous, yet strong comment, Kling, a former portfolio manager at Steven Cohen’s Point72, posted an infographic from analytics provider Crypto Voices that touched on the dichotomy between Bitcoin and legacy forms of money.

Citing data from a number of sources, the Crypto Voices team claimed that the fiat supply in existence right now equates to a U.S. dollar value of about $19.6 trillion. All the gold in circulation, deemed just as important as fiat by some economists, is currently valued at $7.83 trillion. Bitcoin, on the other hand, was valued at a relatively mere $60 billion at the time they compiled the report, indicating that there is asymmetric upside potential for the cryptocurrency.

Thus, Crypto Voices noted that if Bitcoin was to theoretically absorb both gold and fiat at all the assets’ currency supply levels, BTC could swell to $1,571,316 a pop.

While this staggering price point is obviously theoretical, some argue that it wouldn’t be illogical to assume that Bitcoin could begin to eat up some, or even much of fiat money’s current hegemony.

The Argument For Crypto To Oust Fiat

Anti-establishment figure Max Keiser once told Bitcoinist that the flagship cryptocurrency is much like a monetary black hole, and will “gobble up all fiat” over time as the ongoing (in Keiser’s eyes) financial crisis continues to wreak havoc on society.

Trace Mayer echoed Keiser’s thoughts to a tee. The long-time Bitcoiner and a zealous anti-centralization thinker remarked that it’s been a mere 11 years since the 2008 recession, but that governments and society at large haven’t learned, accumulating $87 trillion more debt as humanity’s relentless lust for growth continues. In separate comments, he noted that with the advent of the Lightning Network and other innovative protocols, coupled with the eventual arrival of Wall Street, BTC will become the de-facto go-to investment for any intelligent consumer. Mayer even quipped that holding BTC will easily outpace an IRA or 401k, as the latter investments may get nationalized as debts hit the economy hard, and hyperinflation becomes the norm.

While these comments are being issued as if the legacy world of finance is already on the verge of collapse, this might not be far from the truth.

Related Reading: Bitcoin Giant BitMEX: Major Financial Crisis Could Be Several Years Away

At the World Government Summit in Dubai, the International Monetary Fund’s Christine Lagarde, deemed the 22nd most powerful person in the world by Forbes in 2018, commented that there are “four clouds” closing in on the global financial environment, even quipping that a “storm” might strike. The finance heavyweight explained that these clouds include the trade spats between the U.S. and China, quantitative tightening, Brexit, and, arguably most importantly, the “heavy debt” that governments, individuals, and corporations alike have garnered.

Ray Dalio, the co-founder of the world’s largest hedge fund, Bridgewater Associates, also made harrowing comments. Dalio recently drew eerie parallels between today’s environment and the one seen in the midst of the Great Depression. In a comment made at Davos, the world-renowned investor, who has become a market pessimist as of late, explained that from 1929 to 1932, there was a lot of “printing of money, and purchases of financial assets,” much like today.

While all the aforementioned pundits seem to be convinced that trying times are around the corner, will Bitcoin prove itself to be a perfect hedge or do commentators just have stars in their eyes?

Featured Image from Shutterstock
Tweet123Share196ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum at Risk? Whale Activity and On-Chain Signals Hint at Further Correction

Ethereum Wave Count Predicts Price Crash To $1,800 — But $6,000 Is Still In Play

Ethereum is still struggling below $3,000 despite the Bitcoin price sitting close to all-time highs. At the current levels, Ethereum...

Scott Matherson 3 hours ago
BTC, Bitcoin

Bitcoin Near Historic Weekly Close Despite Drop – Analyst Warns Of Volatile Weekend

As the market sees a Friday retrace, Bitcoin (BTC) is attempting to reclaim a crucial area as support. An analyst...

Rubmar Garcia 5 hours ago
ethereum

Ethereum Approaches Wyckoff ‘Liftoff’ Phase – Can ETH Reach A New High?

Ethereum (ETH) is up 4.2% over the past seven days, trading in the mid-$2,500 range at the time of writing....

Ash Tiwari 7 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Chainlink price

Chainlink Price Continues To Struggle Below $15 — Levels To Watch

Opeyemi Sule 41 minutes ago
Solana Tests Rising Channel Support – Breakdown Could Send Price To $128.50 Level

Solana Tests Rising Channel Support – Breakdown Could Send Price To $128.50 Level

Sebastian Villafuerte 2 hours ago

比特幣ETF年化收益超越標普500 7月最值得買入預售項目錯過升10倍肯定後悔 

Kelvin Lee 2 hours ago

Premium Sponsors

Press Releases

  • XRP Bulls Are Soaring — FINDMINING Rides the Wave to...

    3 hours ago
  • $AIN Expands to 7 DEXs as AI Network Activates Omnichain AI...

    3 hours ago
  • 仮想通プレセール注目:リップルが米銀行ライセンスを申請、機関投資家の関心が急上昇中

    ...

    20 hours ago
  • 仮想通貨おすすめ:話題の新トークンがプレセール開始直後に15万ドルを調達

    ...

    21 hours ago
  • 新しい仮想通貨:ソラナ系取引ボットが話題のプレセールで150万ドル調達、次の100倍候補か?

    ...

    21 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.