Bitcoin (BTC) was created to become an alternative to the traditional financing system, although Satoshi Nakamoto, the creator of cryptocurrency, has never made such statements.
Former Blockchain.com product manager Dan Held tweeted several articles that argued that Nakamoto wanted to create the basis for a new financial system, not a p2p monetary system.
Although Satoshi’s goal has not yet been fulfilled, much has already been done for this. Former Portfolio Manager at Point 72 Stephen Kling published a message in which he presented an infographic by Crypto Voices analysts on the amount of world money and gold reserves (see picture below).
Based on the infographic, it is clear that the total amount of fiat money in the world is estimated at $ 19.6 trillion, and gold has been mined for $ 7.83 trillion. Crypto Voices specialists suggested that if Bitcoin can absorb assets located in gold, and fiat money will be transferred to BTC, it can grow to $ 1,571,316 per share.
