Rajarshi Mitra
Independent Analyst
- Many cryptocurrency enthusiasts value Bitcoin at a much higher price tag compared to its current price.
- Bitcoin educator Michael Goldstein said that several BTC holders value the coin between $100,000 and $10 million.
While Bitcoin is currently priced at around $12,000, many experts likely value the coin at a much higher price tag. Michael Goldstein, also known as “Bitstein,” recently took to Twitter to share his thoughts on this theory.
Most bitcoins already cost at least $100k, but probably more like $10 million.
— Michael Goldstein (@bitstein) August 18, 2020
If an individual purchases a Bitcoin at $10,000 but is not planning to sell it until the asset reaches $100,000, then the price tag of that Bitcoin is much higher than its current market value. With respect to this narrative, the important question that comes to mind is how many Bitcoins are currently worth $100,000?
At the beginning of 2020, 64% of Bitcoin's circulating supply had remained in the same wallets since 2018. This shows that most Bitcoins have a higher valuation than what present market prices indicate. In Goldstein’s opinion, many BTC holders value the asset between $100,000 and $10 million. These numbers are on par with price predictions made by several authorities over the years.
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