$1M #Bitcoin means a market cap of $19.3 trillion and it would be the second biggest economy in the world. Getting close to GDP of the USA of $22.9T and ahead of China at $18.3T.
Discussion
Printer goes brrr….
Sounds insane.
But I'll take it.
Just 1 year of US GDP … that’s still early (though not as early as we are now).
If Bitcoin hits 1 million denominated in USD in the short term, it will be because of exponential dollar devaluation. Comparing to current GDP numbers is useless in those circumstances.
Good thing market cap is a pretty arbitrary metric to an asset that only trades a fraction of its total supply
Balaji is trying to make and expense point that the banking system is broken. If he invested that 1M into BTC today he would make a lot more money if BTC did go to 1M.