Assuming adoption and liquidity are where they need to be, where do you think BTC market cap should be to serve global trade?
Discussion
Like another zero on the price just to start with. Even the global gold market isn't big enough to settle global oil trade.
Although assets have different velocities, liquidity for an asset is kind of constrained by market capitalization to some degree. If a trillion dollars worth of value exchange hands per day, it's likely not on an asset worth less than a trillion dollars...
Is there any connection whatsoever? Price discovery is really just a matter of exchange liquidity.
A barrel of oil is $75 and yet $2.7 trillion of oil are traded annually.
The total amount of USD currency in circulation globally is $2.1 trillion.