Bitcoin is smoking hot and why not, this seems to be the best investment asset at the moment. Everyone wants to have a Pie.
With 21 Millon float (Excluding the BTG and BTC forks), Bitcoin did address the issues with the Monetary system. If we assume that the adoption will grow (Currently 69 Billion transactions are processed digitally by traditional players), we will see a price rise. Not to mention BTC will serve as the reserve for any exchanges (E.g. Bittrex which use BTC as a base to trade.
I was reading over the weekend and have to share this great piece written on Seeking Alpha. The author compares all the Fiat currencies and then tries to arrive at a projected value of BTC.
According to Murray Stahl
"So, basically the premise is that Bitcoin or some cryptocurrency is accepted as a means of the exchange. Let's say that premise proves to be valid. Well then, because it is a worldwide currency it is valued by a law of no arbitrage. It has to be equal to the nominal value of all the fiat currencies in the world. At least that, maybe even more because it is non-inflationary"
Using this Hypothesis, the author them determines a value of 361K/unit
Courtsey: Seeking Alpha
So if you see, even with a 50% probability of hitting this target, we are talking about 180K per bitcoin. I think institutional investors will take the rally to the next level, before it fizzles out.
Good Luck