In a recent statement, famous cryptocurrency analyst Willy Woo shared his prediction for the highest price level that Bitcoin can reach in the future.
Willy Woo Made an Absurd Bitcoin Price Prediction Like a Science Fiction Movie
According to Woo, the cap price for Bitcoin could be as high as $45 billion per coin by 2335, measured in 2024 US dollars. This forecast assumes current growth rates of economies and a Kardashev 1 economy.
Woo's calculation is based on a few key assumptions:
- The money is equal to about a 1:1 ratio of world GDP.
- The money is equal to about a 1:1 ratio of world GDP.
- Since the economy is essentially a machine that consumes energy to create goods and services, GDP grows with energy consumption.
- People currently use 17.7 TW of power.
- In the hypothetical Kardashev 1 economy, we would use 974,000 TW, which is all the energy falling on the earth.
- This means using 9830 times more energy than today. Multiplying today's world GDP by 9830 will give the upper limit.
- This means a world GDP of $950,000 trillion and a demand of $45 billion per BTC if Bitcoin became the global currency.
- Since world GDP and global energy use increase by approximately 3% per year, we will have used all the Earth's energy in 311 years.
Woo also speculated on the price of Bitcoin for the Kardashev 2 economy, which involves using all the energy available from the Sun. However, the analyst noted that there may be light speed issues with the 10-minute block time, given that we would be a multi-planet civilization in this case.
A Kardashev 1 economy, also known as a Type I civilization on the Kardashev scale, refers to a civilization that can use all the energy available on its planet. This includes the ability to control natural events such as earthquakes and volcanic eruptions.
*This is not investment advice.