Bitcoin supply is capped at 21 million and the world population is around 7.4 billion. Doing some math Steve Lee (Google Product Director) explained that just 1% of the total population can possess 0.28 BTC or more.
Lee said:
“In the event that you claim 0.28 BTC and HODL, you can be sure close to 1% of the present total populace can ever possess more BTC than you. An unassuming speculation of $1,830 today can guarantee you are a 1%er of every a future Bitcoin world,”
All through the following couple of years, the shortage of Bitcoin will increment as more financial institutions and organizations keep on amassing the digital currency, which could additionally diminish the possible number of people that can ever possess one entire BTC.
Bitcoin Total Supply is not 21 Million
The total supply of Bitcoin is settled at 21 million BTC, and as a hard-coded money related strategy of the convention, the settled supply of the top digital currency can’t be modified.
In a research conducted in 2017 by Chainalysis, a blockchain analysis and investigation organization that screens and explores digital currency exchanges, uncovered in an examination paper that up to 4 million Bitcoin are forever lost on the blockchain because of robbery, loss of wallets and private keys, and the lethargic wallet of Satoshi Nakamoto, the bitcoin creator, which specialists have said is not any more open.
Senior Economist at Chainalysis, Kim Grauer said that the number of lost bitcoins might be even higher than 4 million, maybe 6 million.
Assuming that all this is true and since the lost bitcoins are not taken into consideration by the Market Capitalization the bitcoin price should be much higher than it actually is.
Kim Grauer said:
“That is an exceptionally complex inquiry. From one perspective, coordinate figurings about market top don’t think about lost coins. Considering how exceptionally theoretical this field is, those market top figurings may make it into monetary models of the market that effect spending action,”
The 0.28 BTC number presented by Lee takes in consideration that the bitcoin supply is 21 million, as it divides 21 million by 0.28 and the result is 75 million shares then he divided it by the world population which is 7.4 billion and the result is 1%. The outcome of Chainalysis research is correct and that 4 to 6 million BTC are lost, the total supply of Bitcoin might be around 16 million.
Taking into account the lost bitcoins only 0.08% of the total world population can own 0.28BTC and only 0.02% can own a whole 1 BTC.
There are not enough bitcoins for everyone with a Coinbase account to own one.
— Jameson Lopp (@lopp) October 3, 2018
Is Bitcoin Undervalued?
In light of the scarcity of the Bitcoin supply and the growing demand and price of the digital currency in the future, the 0.2% designated decrease more.
Doing some math the required amount in dollars to be part of this 1% is around $1800. So theoretically with an investment of $1800 today you can be part of the 1% wealthiest people in the world.
Assuming all this is true that means that cryptocurrency is still in the early stages and there is plenty of room for growth.
Please share with us know your opinion on the comments below.
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