by a__square__peg
Source: fred.stlouisfed.org/series/CURRCIR
Total global wealth is estimated to be about $420T in 2021 source. This gives M0 supply of about ~1.5% to wealth ratio, based on about $6.6T of currency in circulation. Hal Finney’s estimate of $10m per coin was calculated incorrectly based on the market cap of a currency being equated to the total wealth of an economy.
Clearly bitcoin has failed as a currency but succeeding wildly as a purely speculative asset (so far). A little curious though, for those evangelizing it as a currency, if the claims of ‘being early’ doesn’t really make any sense anymore?
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