Hey steemit community, you know very well that Bitcoin is a form of digital currency, created and held electronically. No one controls it. Bitcoins aren’t printed, like dollars or euros – they’re produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems.
Bitcoin has a limited supply of 21 million, of which 16.3 million is currently in circulation. The full amount is expected to be reached by 2040, but in 10 years Van-Petersen says he thinks about 17 million will be in circulation.
Using a formula where market cap equals ten times the daily volume ($175 billion), Van-Petersen projects bitcoin’s overall market value to hit $1.75 trillion. Dividing that by the 17 million expected to be in circulation brings us to his $10,000 target.