Lark Davis – Will Bitcoin Go Up Forever? (19.04.2024 Summary)

Lark Davis – Will Bitcoin Go Up Forever? (19.04.2024 Summary)

The big question a lot of people are asking iswill Bitcoin’s price just keep going up forever? Lark, a popular crypto expert, has some interesting thoughts on this.

First, Lark says Bitcoin is here to stay. It’s a major invention that combines different cutting-edge fields like cryptography and computer science. It’s spread all over the world on thousands of computers, and everyone knows about it now. It would be almost impossible to just make Bitcoin go away at this point.

  • But the real question is whether the price will truly keep rising forever. Lark points to something called the Bitcoin power law model. Basically, it says that for Bitcoin’s price to go up 10 times, the time passed since it was created has to go up by about 50%.

  • So while it looks exponential at first, the price increases actually get farther and farther apart over time. Still, this model could mean Bitcoin hits $1 million per coin around 2033 if it holds up.

  • Lark also compares Bitcoin’s growth to how technologies like TVs and mobile phones were adopted over 15-20 years. Bitcoin is around 15 years old and 10% adopted, similar to where those major tech breakthroughs were.

  • Lastly, Lark likens Bitcoin’s potential as a “digital gold” to how actual gold has kept its purchasing power for centuries, even as paper currencies get devalued over time. If Bitcoin really does become the new store of value, replacing failing fiat currencies, then its price could realistically keep climbing forever from that perspective.

So in simple terms – while no one can predict the future, Lark lays out some compelling reasons why the “Bitcoin going up forever” narrative may not be as crazy as it sounds. But only time will tell!