Almost precisely 10 years ago today, Bitcoin was at $1.
Today, it's at $48,500.
That works out at a compound average growth rate of 194.15%.
This means that the price of bitcoin, when compounded on an annual basis, grows by on average 194% per annum.
Presuming bitcoin continues to grow at 194% per annum, my stash of bitcoin will be worth $1 billion in 5.58 years time, sometime roughly around September 2026.
When we think about bitcoin, we need to think in these terms - bitcoin is growing at 194% per annum compounded.
This means that I must wait 5.5 years and then I will be a Billionaire!
We hear in the news an awful lot about GDP (short for Gross Domestic Product), and GDP growth rates.
Well, I've got this for you.
With bitcoin, GDP would no longer be useful. It wouldn't even be calculated. This is because GDP is only useful in a nation-state scenario. Bitcoin is set to render the concept of nation-state defunct.
Bitcoin is set to unite the whole world under a single, cryptographically secure blockchain. There will be no need for the nation-state any longer, when the world adopts bitcoin and uses it as money.