16 years after its initial proposal, a striking forecast made by Hal Finney, an influential early figure in Bitcoin development, has once again come to light.
In a recent tweet, Bitcoin expert Pete Rizzo rekindled discussions about an old prediction. Back in the early days when Bitcoin’s value was zero, Hal Finney predicted that its worth could potentially reach $10 million.
✨ Sixteen years ago, when Bitcoin’s value was zero, visionary Hal Finney predicted it would be worth ten million dollars. 💫 Simply AMAZING!
— The Bitcoin Historian (@pete_rizzo_) January 10, 2025
On January 11, 2009, just a day subsequent to when Satoshi Nakamoto unveiled version 0.1 of the Bitcoin software, and exactly one week after Bitcoin’s anonymous inventor mined the initial block, or Block 0, Finney made his prediction.
Hal Finney, a renowned computer expert, was the initial recipient of a Bitcoin transaction and posted about Bitcoin on January 11, 2009, on Twitter.
Despite consistently denying it until his death in 2014, Finney is often regarded as a strong candidate for being Satoshi Nakamoto, the creator of Bitcoin whose real identity still remains a mystery today.
Finney’s $10 million Bitcoin prediction
Rizzo shared an image of an email from Finney, dated January 10, 2009, which talked about determining the worth of Bitcoin: “One significant issue with any fresh currency is figuring out its value. Even setting aside the practical challenge that almost no one will use it initially.
Finney envisioned that if Bitcoin were to become the global standard for payments, its worth might match the combined value of all the world’s wealth – approximately $10 trillion. Based on this assumption, each Bitcoin could potentially be valued at around $10 million.
Pondering an intriguing hypothetical scenario, I find myself contemplating the possibility that Bitcoin could emerge as the global standard for payments. If this were to occur, it’s reasonable to assume that the total worth of the currency would match the overall wealth of our world.
According to my research, the estimated global household wealth varies between $100 trillion and $300 trillion. With a maximum supply of 21 million Bitcoins, each coin would be valued at approximately $10 million if all the wealth were represented in this digital currency.
Despite Bitcoin’s current price of around $93,726 being significantly lower than the $10 million target set by Finney, his vision remains a powerful motivator for those with a long-term belief in this digital currency.
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2025-01-10 19:08