You’ll hear some crypto enthusiasts talk about something called ‘Bitcoin dominance’, which is basically the share of total crypto market cap bitcoin enjoys. When it plunges below 50%, bitcoin maximalists start crying. Ultimately, though, it’s a meaningless metric. In time it will drop below 10%, and lower still – and that’s a good thing for crypto.
Bitcoin is the grand-daddy of crypto, the first and still the largest peer-to-peer online currency. It’s not going anywhere in a hurry. One day something may unseat it from its #1 throne, but not just yet: the promised Flippening isn’t around the corner.
But even if bitcoin stays at the top of the heap, its Dominance will continue to fall. Why? Simple: because other crypto projects are not just growing, they are becoming more numerous.
It doesn’t matter if bitcoin achieves a $10 trillion market cap (which would be awesome – $500k BTC buys a lot of Tesla Roadsters). If there are thousands of $10 billion market cap crypto projects, which is more than possible, its share of the total will fall towards the single digits.
A smaller slice of a bigger pie. A much bigger pie. Is that such a bad thing?
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