Mark Moss Believes Bitcoin Price Could Reach $43 Million – Here’s His Explanation
On the ‘Rich Dad Radio Show,’ Mark Moss, the author of the Uncommunist Manifesto, shared his insights on why investing in Bitcoin is a smart move, despite the rise of alternative cryptocurrencies like Dogecoin, Solana, and Ethereum. Moss backed up his argument with historical data that demonstrates significant price appreciation after previous halving events.
Moss, in his forward-thinking approach, predicts that Bitcoin’s value will reach an impressive $43 million per coin within the next 50 years. When asked about the basis for this calculation, Moss drew a parallel to the disruptive idea of Uber in Silicon Valley years ago. He explained that by capturing a small percentage of various industries such as taxis, limos, and van shares, a valuation of $100 million could be justified.
Applying this logic to Bitcoin, Moss compared its role as a store of value against other assets like gold ($14 trillion), luxury items ($25 trillion), stocks ($12 trillion), real estate ($350 trillion), bonds ($300 trillion), fiat currency ($120 trillion), and offshore accounts ($30-40 trillion). According to Moss, the combined value of these traditional stores of value is estimated at around $900 trillion. He emphasized the challenge of shifting our thinking from dollars to Bitcoin, especially considering the constant printing of the latter.
Moss also highlighted the impact of Bitcoin’s halving events. Every four years, the new supply of Bitcoin is cut in half. Moss simplified the economic dynamics, explaining that the balance between supply and demand determines prices. With a decrease in new supply and assuming constant demand, the natural outcome is a price increase, which has been observed in the past.
Furthermore, Moss pointed out that the entry of Wall Street into the Bitcoin market through ETFs has further increased demand. This combination of reduced supply and increased demand aligns with basic economic principles and is likely to drive price appreciation.
In contrast to fiat currencies, Moss emphasized that Bitcoin operates on a predetermined schedule. While central banks can adjust the supply of fiat at will, Bitcoin’s supply is limited to a maximum of 21 million coins, expected to be reached by 2140. This scarcity, coupled with the recent halving event, has made Bitcoin even scarcer than gold, historically considered one of the most valuable and scarce assets.
Overall, Moss’s analysis provides a compelling case for investing in Bitcoin, highlighting its potential for significant price appreciation and its unique qualities as a store of value compared to traditional assets.