Bitcoin price must be $ 1 million for 1 satoshi to reach parity with 1 cent

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Bitcoin (BTC) is circling all-time highs, but a new storm is brewing around its smallest subunit, the Satoshi or “Sat”.

As more and more first-time investors get involved in BTC, it is pointed out again that many still believe that Bitcoin cannot be shared and is “too expensive”.

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The problem of how to resolve this misunderstanding and introduce sats to a wider audience is a common discussion point in recent Bitcoin history and is now back in the spotlight.

This week, statistician Willy Woo publicly approached the CoinGecko listing to make the tiny Satoshi more visible.

“Put a smaller unit of standard for BTC on your site and see if it catches on. Let’s start a trend, ”he offered.

Woo responded to an experience of Magical internet money Podcast host Brad Mills, who had been told by a potential buyer that he could not afford a whole bitcoin.

A long road to parity?

Satoshis are the smallest original sub-unit of Bitcoin, divisible by up to eight decimal places. At current prices, this results in a single satoshi worth around 0.02 cents. One dollar is worth 43 sats.

A dedicated resource now shows how much BTC / USD needs to win for that to be worth one cent. For this, Bitcoin would have to question the upper limit of the US M2 money supply, said Woo. Bitcoin should reach $ 1 million.

Bitcoin money supply measured in US dollars. Source: Woobull

With that in mind, a Bitcoin price of $ 23,000 still seems modest. However, some currencies have already fallen to Satoshi parity on their own. In July, the Argentine peso joined the Lebanese lira and saw that one was sitting equal to its smallest unit of account.