Determining the value of Bitcoin (BTC) can be more complicated than just looking at the current market price.
“Most bitcoins already cost at least $ 100,000, but it’s probably $ 10 million.” said Michael Goldstein, also known as Bitstone, in one Tweet 17th August.
While Bitcoin is around $ 12,000 at press time, many people in the crypto industry are likely to value the asset at a much higher price. Of course, if someone buys a BTC for $ 10,000 but is not ready to sell it until the asset reaches $ 100,000, the price of that bitcoin will be much higher than its current market value. This then begs the question: How many bitcoin is currently worth $ 100,000?
At the beginning of the year, 64% of the circulating bitcoin supply has been in the same wallets since 2018. This seems to suggest that most BTC are valued higher than current market prices indicate.
According to Goldstein Many of Bitcoin’s largest “pocket-holders” estimate the asset to be between $ 100,000 and $ 10 million. These numbers are in line with a number of price predictions made by various authorities over the years.
On March 5, 2020, Max Keizer predicted that Bitcoin would soar to $ 100,000 in 2020 due to the impact of COVID-19. Other notable names in the industry too predicted prices for Bitcoin at some point over $ 100,000, including the Anthony Pompliano, Co-Founder of Morgan Creek Digital, he Creator of the stock-to-flow model of BTC, PlanB, and the Cryptographer Adam Back, among other.