One single Satoshi, is now worth more than some national currencies

11 Jun, 2019
by Joeri Cant
One single Satoshi, is now worth more than some national currencies

According to crypto analyst, who goes by the Twitter handle, Rhythm Trader, the smallest denomination of Bitcoin, a single Satoshi, is now worth more than some national currencies.

One Satoshi is the smallest unit that is recorded on the Bitcoin blockchains, and is divisible by up to eight decimal spaces, or 0.00000001 BTC.

Of course as a die-hard crypto enthusiast, you already knew this.

What you perhaps didn't know is that today one single Satoshi is already worth more than some national currencies.

The crypto analyst, Rhythm Trader, took to Twitter to point out that the lowest denomination of the world's most popular cryptocurrency, is now worth more than the Iranian Rial, Vietnamese Dong, and Indonesian Rupiah.

'Magic internet money' is now just 'money', he tweets.

At the time of writing one Satoshi or 0.00000001 BTC is worth over 3.3 Iranian Rial, 1.8 Vietnamese Dong, and 1.1 Indonesian Rupiah.

However, for one Satoshi to ever reach the equivalent value of one United States penny, Bitcoin would need to be valued at $1 million per coin.

Not possible, you say? Think again! The vice president of blockchain and digital currencies at IBM, Jesse Lund, believes this is entirely possible.

Chepicap reported in February, that Lund said that he sees Bitcoin at a million dollar someday.

'I like that number, because if Bitcoin is at $1 million, then a Satoshi will be equal to one U.S. penny, which would mean that there is over $20 trillion of liquidity in this network and this $20 trillion of liquidity would massively change the global financial services landscape.'

There you have it, one Satoshi might be worth one penny one day.

Do you think this will happen? let us know in the poll below.

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Can one Satoshi be worth one penny one day?

(25 votes)

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