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Ecstasy of Bitcoin
Bitcoin like Gold
The big driver of this 29% rally through mid-2018 would be greater public awareness of bitcoin as a method of payment and as a store of value like gold. He maintained his 2022 target of $25,000.
The best estimate at the end of 2011 is that around 165,000 metric tons have been mined in all of human history. That's about 181,881 ordinary tons or 363,762,732 pounds, or 5,820,203,717 ordinary ounces. Gold is about $1320 per ounce. In 2017, the total gold in the world is probably over 6 billion ounces. This would be about $8.2 trillion.
Ecstacy of Gold is a song from the Good, the Bad and the Ugly