The crypto area can rest easy on Bitcoin's success -- a lone Reddit consumer gets you covered.
In recent years because Bitcoin's 2009 launching, the crypto business's inaugural blockchain-based asset has endured many speculative deaths. While it's true that Bitcoin (BTC) could theoretically crash from the tens of thousands of dollars necessary to take it into zero, one Reddit consumer has vowed their intention to purchase the blood up.
Why? "Since I'm willing and able to buy All of the bitcoin ever mined at 1 penny each," the user clarified, including:
"So next time a bitcoin skeptic brings up the bitcoin going to no debate just let them understand that a random reddit man on the internet said he won't let this happen."
CoingGecko estimates the entire number of Bitcoins mined because the genesis block is around 18,677,925. In the improbable event that Bitcoin does actually fall to $0.01 USD, it would cost a mere $187,000 to pick up every coin in flow -- maybe not accounting for the fact that many believe 20% of all Bitcoin are inaccessible.
Through time, many old-world fiscal personalities have prediction Bitcoin's eventual demise, including gold evangelist Peter Schiff. In 2020, Jim Rogers, a prominent investor, said he expects a future cost of $0 for BTC. Additionally, Distributed Lab CEO Pavel Kravchenko said Bitcoin could become worthless, even though his stance was determined on certain conditions.
U/Substantial-Ad-5012 isn't the only one ready to purchase Bitcoin either, in the event of a dramatic price spiral. Entrepreneur Alistair Milne has also expressed similar goals before, as demonstrated by his own 18.52 million BTC buy order last year. In 2020, after the March crypto economy crash, Binance CEO Changpeng Zhao additionally tweeted about the asset not hitting , due to his aim to buy prior to then.
Other factors which could lead to total cost depreciation for Bitcoin contain attacks on the international power grid or the destruction of all technology on Earth. The advantage will not have some safeguards in place in case of a cataclysmic tragedy, however, including a satellite-based system that maintains Bitcoin's blockchain.
Bitcoin is trading near $58,000 at time of publication.