/biz/ - Business & Finance

>>29044194
It isn't about how much USD a bitcoin is worth. A more appropriate measure of a bitcoin is how much gold or silver it is worth. Right now a bitcoin is worth 1850 ounces of silver. Annual silver production is a little less then a billion. Even though easily accessible supplies of silver are drying up it is undeniable that if silver goes up 5x or 10x these mining companies will explode in value and will have huge amounts of capital available to them to expand production. Bitcoin supply is absolutely fixed compared to the vast supply of undiscoverd silver on earth


850000000 /1850 equals around half of a million possible bitcoins that could be bought with the annual silver supply. However this is meaningless since buying half a million bitcoin 1/42 of the possible supply ever would send the price rocketing to the hundreds of thousands of USD.

>Gold goes to 2500-3000
>Third world governments fomo and take over foreign owned gold mines.
>Third world governments are retards that have no idea how to run gold mines.
>As the price goes up and more mines are nationalized the actual avaliable supply will decrease