Binance CEO, Changpeng Zhao Has A Bitcoin-Related Prediction Which Goes Viral
In the extremely volatile crypto market, there have been a lot of Bitcoin-related predictions lately, and a bunch of them are really bullish.
Now, Binance CEO, Changpeng Zhao has an interesting Bitcoin-related prediction that managed to become viral quickly.
BTC can guarantee your status as one of the wealthiest people
He believes that one BTC could guarantee a person’s status as one of the richest people in the world.
In a new viral tweet, Zhao speculates that BTC’s limited total supply will push its investors into a rare class. You can see his tweet below.
BTC’s protocol allows for 21 million to be mined in total. BTC entrepreneur Charlie Shrem pointed out at the fact that BTC has a relative scarcity as evidence of its current and future value.
If you own 1 $BTC, you are mathematically guaranteed to be top 3/1000 richest in the world, in BTC terms. (21m / 7B).
— CZ Binance (@cz_binance) August 25, 2019
Shrem said the following in a recent tweet:
“It’s insane how little Bitcoin is actually in circulation, a little under 18 million coins. Think about how few that is. That’s not even enough for every citizen of Cairo to have just 1 bitcoin. All you need is one and that will be life-changing.”
It’s insane how little #bitcoin is actually in circulation, a little under 18m coins.
Think about how few that is.
That’s not even enough for every citizen of Cairo to have just 1 bitcoin.
All you need is 1 and that will be life changing.
— Charlie Shrem (@CharlieShrem) August 23, 2019
Hal Finney’s remarks
The comments on scarcity are echoing remarks that have been made by the last Hal Finney.
In a cryptography mailing list, he wrote:
“As an amusing thought experiment, imagine that Bitcoin is successful and becomes the dominant payment system in use throughout the world.”
He continued and said: “Then the total value of the currency should be equal to the total value of all the wealth in the world. Current estimates of total worldwide household wealth that I have found range from $100 trillion to $300 trillion. With 20 million coins, that gives each coin a value of about $10 million.”
Regarding the price of the most important coin in the market, BTC is trading in the red on CMC at the moment, and it’s priced at $10,196.17.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.