Bitcoin Slowly Overtakes The Banks

Are banks threatened by Bitcoin?
These past few days, Bitcoin has been all over the news, breaking records over and over again. People just can’t stop talking about Bitcoin’s massive price rise as the price of the crypto continues to rise form $10,000 to $12,000 to $15,000, and to $16,000 as of the moment (December 8, 2017).
This massive price rise continues to impress everyone around the world because we can still recall how much countries and governments underestimated the crypto a few years back.
Well, look at Bitcoin now! It is rising like it’s not a volatile asset at all!
Is this something that bank should be scared of? Let’s find out!
Investor Mark Yusko has held steadfast to the notion that Bitcoin’s price will shoot to $400,000 in the future. The founder and CEO of the North Carolina-based Morgan Creek Capital Management firm states that the cryptocurrency has the potential of gaining value, thanks to its technical infrastructure and other factors that are already inclined in its favor.

Mark Yusko maintains that Bitcoin’s self-sufficient design has given it a disruptive revolutional technological edge. In an interview on Bloomberg, he cites the possibility for people to transact exchanges on blockchains without seeking out banks to confirm the transaction’s validity.
CAN’T TRUST THE BANKS
This stand reflects his optimistic position from last month that blockchains are taking over the turf and will soon override banks. He said:
One of my greatest nightmares is that I may wake up one morning and the bank says I have no money. How would I prove that I do? So I think Bitcoin and Blockchain and Ethereum are exciting new technologies
THE MATH IS QUITE SIMPLE
But how is Yusko so sure that Bitcoin will crank it all the way up to $400,000? He credits it all in the simple fact behind Bitcoin’s gold equivalence.
Take twenty million Bitcoin totals, if today’s gold is eight trillion, it will give you $400,000. And this goes without including any used cases like an exchange of currency.
Better yet, because the world’s total amount of gold can fill two Olympic swimming pools (even though Forbes says it’s 3.27 pools) shows just how great the numbers can be when it comes to gold. The expanding influence of Bitcoin continues to rise, especially when compared to gold. Currently, Bitcoin is 11 times more valuable than gold when comparing a single coin to an ounce of gold.