Today – When (BTC) crossed a six-digit milestone today, topping $100,000 for the first time, it not only marked a historic moment in crypto history. It also reignited debate about the visionary power of Hal Finney, one of Bitcoin's early proponents and a pioneer in the field of digital currencies.
In January 2009, when Bitcoin was still unknown, Finney shared a bold thought experiment that has since become legendary in the cryptocurrency world. He believed that if Bitcoin were to become widespread and become a global payment system, its value could theoretically equal the world's total wealth.
Using estimates of global household wealth ranging from $100 trillion to $300 trillion, he calculated that the potential price per Bitcoin would be $10 million, assuming a total supply of 20 million coins. .
The $100,000 milestone has caused many to reconsider this crazy prediction. Among them is Adam Back, a prominent figure in the cryptocurrency field and an early contributor to the development of Bitcoin.
In a recent post, Adam Back looked back at Bitcoin's growth trajectory, noting that Bitcoin's last jump from $1,000 to $100,000 took just under eight years. Buck believes that if things continue as they are, Bitcoin could reach the next stage of exponential growth by the early 2030s.
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However, the future path for BTC will not be linear. Buck said models can change, and adoption patterns often accelerate when a tipping point is reached. Economic factors such as potential hyperinflation of fiat currencies further increase unpredictability.
Hal Finney's vision for 2009 was not intended to be a traditional prediction. It was more indicative of what Bitcoin would become. Today, as Bitcoin reaches new six-digit highs, Finney's thoughts serve as a reminder of the great ambition and potential that has defined the cryptocurrency since it first began. .
Will Bitcoin ever reach the value Finney envisioned? The future is uncertain, but today's milestone suggests his early ideas weren't completely off the mark.
This article was originally published on U.Today
