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clock Created with Sketch. 31/07/20
16:25
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Originally posted by verce:
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The market cap for Bitcoin is about 200 billion USD right now. For a global currency/global asset, that is quite a small market cap and naturally means it will be subject to increased volatility. By way of example, the total value of US 100 dollar bills and the total value of Euro 100 dollar notes is about 2.5 trillion. You have to consider the size of the potential economy that Bitcoin might serve in the future - which is undoubtedly global in scope. For these reasons I expect volatility to reduce over time, but stabilise at a much higher price.IS emerging as a new asset class, and its current penetration of various financial channels is so small in footprint that prices are inevitably going to go MUCH higher. If Wall Street dedicates resources to this space (and we are starting to see hedge funds and banks do this now e.g. Grayscale, Deutsche Bank) it's going to flourish and become a very important aspect of modern portfolio theory.
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Thank you for your tireless research but I feel that any possibility of Phil Collins needs to come with a MASSIVE WARNING. Some punters may have seen a cute gorilla, pressed play and are now vomiting from their eardrums.
