The scientist tried to calculate the value of Bitcoin. DENSO Evans, a computer scientist at the Institute of Rutgers (new Brunswick, new Jersey), set out to determine the fair price of Bitcoin. Math is power First, Evans tried to find a plausible answer to the question “how much could a Bitcoin” on the Internet, but faced with the fact that the opponents of cryptocurrencies believe that Bitcoin has no value, and supporters believe that Bitcoin can cost up to $ 1 million.
Then Evans tried to count himself. He relied on a study that says that only 1% of all people have a Bitcoin in dollars is – of the total $ 270 billion. Dividing that number by the current number of bitcoins in circulation (16 769 000), it is possible to obtain the average value of Bitcoin in the amount of about $ 16,000. But this approach ignores the fact that Bitcoin is not evenly distributed, so the world average of 1% of the population owns Bitcoin, but in the US it’s closer to 15%, in such advanced countries as Japan, it can be much more.
If you calculate the value of Bitcoin in the US on the basis of 15% of the owners, you get 46,156,60 dollars. Taking into account the uneven distribution of Bitcoin, Evans took the value of Bitcoin outside of the US, it deducted the cost in the United States, then took 1% of this amount and divided it by the total number of Bitcoin that showed 11 721,63 dollars. Further, Evans cites the MSCI ACWI, which shows that the weight of the companies in the index was rejected in favor of the United States, approximately 52%. Computing a weighted average (taking 52% of U.S. 46,156,60 dollars and adding it to 48% of the cost outside the U.S. at 11 721$), Evans received a value of $ 29 627,81 dollars. Evans stipulated that the answer would be more accurate if you know exactly how many Bitcoin users, but it is technically impossible, writes Seekingalpha