Would Bitcoin at this Price limit its Global Adoption?

[wallet4bitcoin]

Michael Saylor stated that people buy Bitcoin at the price they deserve. Just a few days ago, Adam Back made a bet on Twitter that Bitcoin would reach $100,000 by March 31st, 2024. Here's a concern I have, do you think the predicted increases in Bitcoin's price to $100,000, $200,000, $500,000, etc. will limit its global adoption? Since the price will be so high, the average person might not be able to afford a substantial amount of it. As a result, they might seek alternatives, potentially hindering global adoption. Could the excessively high price lead people to feel like they missed out, causing them to hold onto seemingly worthless fiat currency?

One vivid point to note is that bitcoin is bitcoin and whatever fragment of bitcoin(satoshi) you have doesn't matter, you mustn't have an entire bitcoin. If bitcoin was to be shared amongst every human on the planet then it will have to averagely be about 11 satoshi per person. If this is the case, then who cares if you have a whole unit of it or not.

Secondly, the price of bitcoin can not hinder massive adoption of bitcoin nor crypto entirely, if the total bitcoin or crypto market valuation goes beyond the FX market then we will see huge drift into the crypto currency space from conventional investors. Massive adoption is a must and price appreciation, is no hindrance.

And to price speculators, this is not the first time we have heard such, McAfee speculated something similar within such narrow time frame and we are not there yet. Bother less about speculations and just live in the moments.

[superman184]

Yes, for example, if people buy BTC in large quantities, there will definitely be potential obstacles in adopting BTC, but in my opinion, the potential is great that there will be no obstacles in adopting Bitcoin because there are definitely people buying and selling. I don't think op no need to worry about this, because in my opinion, even though BTC is already high, of course this won't be an obstacle for anyone who wants to invest in BTC.

If the OP asks about global Bitcoin adoption which may be influenced by the price at that time, I don't think there will be any problems with the price if most people are happy to continue adopting Bitcoin in their own lives. Moreover, if one day the top officials in each country will also agree to this adoption for all the communities they lead, of course this will also make it easier for everyone to invest, trade and use it in the buying and selling sector as you said.

This means that global adoption will not be limited by the price of Bitcoin on the market, because when the price of Bitcoin increases and becomes more expensive than it is today, there are still most people who are happy about it so it will not hinder adoption. happens globally. Likewise, when a price reduction occurs, there are still a large number of people who are happy to take advantage of this condition so that it will also affect the course of adoption which may never stop.

[Fivestar4everMVP]

Yes, for example, if people buy BTC in large quantities, there will definitely be potential obstacles in adopting BTC, but in my opinion, the potential is great that there will be no obstacles in adopting Bitcoin because there are definitely people buying and selling. I don't think op no need to worry about this, because in my opinion, even though BTC is already high, of course this won't be an obstacle for anyone who wants to invest in BTC.

If the OP asks about global Bitcoin adoption which may be influenced by the price at that time, I don't think there will be any problems with the price if most people are happy to continue adopting Bitcoin in their own lives. Moreover, if one day the top officials in each country will also agree to this adoption for all the communities they lead, of course this will also make it easier for everyone to invest, trade and use it in the buying and selling sector as you said.

This means that global adoption will not be limited by the price of Bitcoin on the market, because when the price of Bitcoin increases and becomes more expensive than it is today, there are still most people who are happy about it so it will not hinder adoption. happens globally. Likewise, when a price reduction occurs, there are still a large number of people who are happy to take advantage of this condition so that it will also affect the course of adoption which may never stop.

I completely agree with you, price increase will not hinder the adoption of Bitcoin whether it be worth a million dollars or even more,  those who can afford to buy and hold bitcoin will still buy and hold, and let's not forget the fact that traders are happy to trade bitcoin at whatever price it is, making money from bitcoin is not just about investing and holding for sometime, trading is also a very good way of making money, so whatever price bitcoin increases to tomorrow, with a great number of traders which is increasing by each and every passing day, we should be rest assured that the trading volume of Bitcoin will never come down to what it used to be 5 years ago, but rather, it will increase to be billions and trillions of Dollars as the crypto market grows..

[libert19]

If you mean Bitcoin alone and not including lightning then I have something to say. Before talking about it's global adoption, solve scaling issues first — 7 TPS, several minute transaction confirmation times and the need to pay more so my transaction gets confirmed faster; even on bare minimum you'd be paying 50 cents as fee, now imagine paying 50 cents as fee for $1 purchase. Ridiculous! — these are no feat to become a global currency.

causing them to hold onto seemingly worthless fiat currency?

Why do you call fiat worthless? Crypto has it's use, fiat has it's — both will go hand in hand, none will replace another.

[Iranus]

causing them to hold onto seemingly worthless fiat currency?

Why do you call fiat worthless? Crypto has it's use, fiat has it's — both will go hand in hand, none will replace another.

The funny thing is that a lot of people always say that fiat currency is useless, it's rubbish but they invest in bitcoin and at the end of the day they convert their bitcoin into fiat currency to use. They insult fiat on a daily basis but also use it every day and their life cannot exist without fiat.

Indeed, fiat is losing significant value over time, but that doesn't mean it's completely worthless. They still have their own use cases and we're still using them every day. Fiat shouldn't be held for long, that's its downside.

[Tony116]

Yes, for example, if people buy BTC in large quantities, there will definitely be potential obstacles in adopting BTC, but in my opinion, the potential is great that there will be no obstacles in adopting Bitcoin because there are definitely people buying and selling. I don't think op no need to worry about this, because in my opinion, even though BTC is already high, of course this won't be an obstacle for anyone who wants to invest in BTC.

If the OP asks about global Bitcoin adoption which may be influenced by the price at that time, I don't think there will be any problems with the price if most people are happy to continue adopting Bitcoin in their own lives. Moreover, if one day the top officials in each country will also agree to this adoption for all the communities they lead, of course this will also make it easier for everyone to invest, trade and use it in the buying and selling sector as you said.

This means that global adoption will not be limited by the price of Bitcoin on the market, because when the price of Bitcoin increases and becomes more expensive than it is today, there are still most people who are happy about it so it will not hinder adoption. happens globally. Likewise, when a price reduction occurs, there are still a large number of people who are happy to take advantage of this condition so that it will also affect the course of adoption which may never stop.

I completely agree with you, price increase will not hinder the adoption of Bitcoin whether it be worth a million dollars or even more,  those who can afford to buy and hold bitcoin will still buy and hold, and let's not forget the fact that traders are happy to trade bitcoin at whatever price it is, making money from bitcoin is not just about investing and holding for sometime, trading is also a very good way of making money, so whatever price bitcoin increases to tomorrow, with a great number of traders which is increasing by each and every passing day, we should be rest assured that the trading volume of Bitcoin will never come down to what it used to be 5 years ago, but rather, it will increase to be billions and trillions of Dollars as the crypto market grows..

We need to think more broadly, bitcoin is not only used for investment but it has many different benefits and use cases. So price will never be a barrier to global bitcoin adoption. In the future, once governments legalize and recognize it, which means it becomes more secure and trustworthy, people will use bitcoin according to their needs. Don't forget bitcoin can help us become our own bank, store of value, cross-border payment method and possibly a safe haven...There are many benefits that bitcoin brings, not just investments. So there is no need to worry about bitcoin price being a barrier or not.

[jostorres]

BTC is an asset characterized by lightning-fast price fluctuations, even susceptible to manipulation. Let's say BTC hits the price you mentioned, which is 100k, but that won't likely endure if 100k represents its peak. The charts will indicate a more reasonable price correction in the near future.

At that price point, everyone will begin trading at the new market price. Traders will start sketching out support and resistance areas that will serve as the upper and lower bounds of the market price.

So, even if the price reaches 100k, the public will still obtain a reasonable consensus price for BTC. Thus, its adoption will persist. Don't be late to join us.

Not all times the fluctuations are as quick as that. Like for example these past weeks or months, we witnessed the different side of BTC again, and that is when it becomes stable. $100k isn't the only price mentioned by the OP. $100k is still small and it means many people or countries are still not yet involved into it.

The only moment we can say that we already reached our limits in terms of adoption is when BTC is already at its maximum price. It can be $500k or more. If you are not new in the market, you can get used to the change easily and besides there will still be fluctuations that occurs most of the times. The price have only changed but BTC is still BTC.

[Franctoshi]

will limit its global adoption? Since the price will be so high, the average person might not be able to afford a substantial amount of it. As a result, they might seek alternatives, potentially hindering global adoption. Could the excessively high price lead people to feel like they missed out, causing them to hold onto seemingly worthless fiat currency?

One interesting thing that answers your query is that you don't need to buy one full Bitcoin to own or invest in Bitcoin because Bitcoin is divisible into fractions, so anybody can own any amount of Bitcoin that he or she can afford to buy regardless of what price that BTC may be in the future. Therefore, the high price is not going to chase investors away, rather it will even become more attractive for wealth storage, for both the rich and any type of investor.

[ginsan]

Global adoption is not related to the price because they adopt the sophistication of Bitcoin which is better than fiat. OK we will probably hit $100k or more but that's not going to stop a country from adopting Bitcoin. For example, El Salvador, they don't care about the price of BTC because they care about the sophistication that Bitcoin has which can make big changes in improving their economy or everything.

So I agree more that bitcoin is a better change than fiat and a developed country will believe in bitcoin being better than fiat. Bitcoin is a digital currency that has great significance with which one can easily make transactions and no matter how far the price moves because Bitcoin is Bitcoin.

[Ryu_Ar1]

Michael Saylor stated that people buy Bitcoin at the price they deserve. Just a few days ago, Adam Back made a bet on Twitter that Bitcoin would reach $100,000 by March 31st, 2024. Here's a concern I have, do you think the predicted increases in Bitcoin's price to $100,000, $200,000, $500,000, etc. will limit its global adoption? Since the price will be so high, the average person might not be able to afford a substantial amount of it. As a result, they might seek alternatives, potentially hindering global adoption. Could the excessively high price lead people to feel like they missed out, causing them to hold onto seemingly worthless fiat currency?

Isn't it in the end when the price goes up there is a condition where demand is high, meaning that when you say you can't afford to buy it is actually like something that is hard to believe when there is a lot of demand that makes the price of bitcoin higher.
On the other hand, we also know together that buying bitcoin does not mean we have to buy 1 bitcoin at a time because in this case whatever money you have if you seriously want to buy bitcoin then everything can be done regardless of profit in the end everything depends on ourselves whether we are willing or not to buy at the risk of higher prices.
Therefore, when we are already serious in bitcoin and try to keep buying at the current price then it is the right thing to do.

[bitterguy28]

Michael Saylor stated that people buy Bitcoin at the price they deserve. Just a few days ago, Adam Back made a bet on Twitter that Bitcoin would reach $100,000 by March 31st, 2024. Here's a concern I have, do you think the predicted increases in Bitcoin's price to $100,000, $200,000, $500,000, etc. will limit its global adoption? Since the price will be so high, the average person might not be able to afford a substantial amount of it. As a result, they might seek alternatives, potentially hindering global adoption. Could the excessively high price lead people to feel like they missed out, causing them to hold onto seemingly worthless fiat currency?

even without that growth , people are already turned into altcoin many years ago and this is what good makes in competition , because even how many altcoin existed yet bitcoin remains the top and most supported and used.
meaning there is no way that it will lomit the global adoption.
because we must admit that some people are truly into altcoin.

causing them to hold onto seemingly worthless fiat currency?

Why do you call fiat worthless? Crypto has it's use, fiat has it's — both will go hand in hand, none will replace another.

The funny thing is that a lot of people always say that fiat currency is useless, it's rubbish but they invest in bitcoin and at the end of the day they convert their bitcoin into fiat currency to use. They insult fiat on a daily basis but also use it every day and their life cannot exist without fiat.

Indeed, fiat is losing significant value over time, but that doesn't mean it's completely worthless. They still have their own use cases and we're still using them every day. Fiat shouldn't be held for long, that's its downside.

don't blame those who convert their bitcoin into fiat because they have no option as bitcoin is still not adopted and they have no option in using .
even you will surely convert no matter how you trusted and believe this coin.

[SOKO-DEKE]

Michael Saylor stated that people buy Bitcoin at the price they deserve. Just a few days ago, Adam Back made a bet on Twitter that Bitcoin would reach $100,000 by March 31st, 2024. Here's a concern I have, do you think the predicted increases in Bitcoin's price to $100,000, $200,000, $500,000, etc. will limit its global adoption? Since the price will be so high, the average person might not be able to afford a substantial amount of it. As a result, they might seek alternatives, potentially hindering global adoption. Could the excessively high price lead people to feel like they missed out, causing them to hold onto seemingly worthless fiat currency?

I do not believe that the rising price of Bitcoin can really hinder the adoption of Bitcoin because the rising price of Bitcoin is what will compel people who have not yet purchased Bitcoin to do so because they will believe that the price of Bitcoin will continue to rise, I believe you understand that the greater the demand for Bitcoin, the higher the price of Bitcoin will remain. The most important thing is that individuals need profit, not how much Bitcoin they own. The value of a person's investment, not the number of investments they have, is what matters in any investment. So when the price of Bitcoin increases, I think there will be a greater adoption.