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Will the Bitcoin price rise to $6,000,000? When will it come out? According to Gavin Andresen, a software developer known for his interest in Bitcoin (BTC), traders and investors should not take his text on the future of Bitcoin price 100% seriously and read it as a little piece of science fiction. Details Cryptocoin. com

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Heavy Bitcoin price

Will Bitcoin price rise to $6,000,000? Andersen says that his articles on this subject should not be taken seriously today, but should be considered as fiction written for the future. Because now let’s imagine it’s the year 2061 and the price of the leading cryptocurrency is $6,000,000, which is roughly equivalent to one million 2021 dollars due to inflation. Gavin Andresen’s statements can be read in his tweet, which you can see below.

https://twitter. com/gavinandresen/status/1440375939360178189

So, according to Andresen, by 2061 the Bitcoin price will reach $1,000,000 in present value, which will equal $6,000,000 due to inflation. Miners are rewarded with 0.006103515625 BTC per block, plus around 5 BTC transaction fees ($7,500/transaction) for around 4,000 transactions.

However, most BTC transactions do not happen on the BTC network.

Gavin Andresen says:

Most BTCs are locked in multi-signature outputs secured using multi-party computation and reflected on another chain as “wrapped” tokens. People moved their BTC either because they wanted faster transactions, lower fees, more privacy, or because they wanted to invest their BTC in decentralized financial things. Or maybe all of the above.

Transactions taking place on the main BTC network are of high value, mostly among super whale-sized holders. These whales protect the BTC network forever. They are miners and transaction creators; They don’t care how high the transaction fees are because they charge as much as possible. In 2100, whales realized that the mining reward was essentially zero and fewer and fewer transactions were taking place on the slow, expensive, non-private BTC network. That’s why they decided to try and save money by closing basidollar. And as long as no new BTC is produced, no BTC circulating on the network, there are still 20 million tokens circulating on other Blockchains, valuable as they are limited in number and BTC was the first scarce crypto asset.


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Michael Lewis

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