Bitcoin to $1M, Ethereum to $180k by 2030: ARK Report

cryptobriefing.com

11 points·steelstraw··4 comments

With a current circulating supply of 119,329,078 ETH [1] that’s a $21,479,234,040,000 market cap. Total USD money supply is $6,394,800,000,000 [2]. That seems like a ridiculous prediction to me.

The whole article talks about BTC and ETH like they’re a currency, but that’s not how the tax authority in my country (Canada) views them. And, having tried to buy an ENS domain, I can say that ETH sucks as a currency.

1. https://coinmarketcap.com/currencies/ethereum/

2. https://tradingeconomics.com/united-states/money-supply-m0

It depends on how you define the existing money supply. If you look at broad money it does not seem that ridiculous. For example, gold is currently worth $11.5 trillion [1]. That is almost twice as much as the M0 money supply you are referring to.

[1] https://companiesmarketcap.com/assets-by-market-cap/

Fun story: during the Beanie Baby craze, many "guides" were produced that included info about a Beanie Baby's first run, discontinuation, and most importantly a "projected" future price. Many publishers soon realized that the more money they predicted the Beanie Babies to be worth, the more the books would sell. So you had shelves filled with wild speculation about how this Beanie Baby is going to be worth $20,000 in a few years.

It's something worth thinking about when you see these types of articles.

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