Countries are pushing towards going cashless, that means every street drug dealer will end up using bitcoin. Illegal drug market is valued at $360 billion. Bitcoin's market cap would need to double to handle this.

Think about it, digital dollar is coming, other countries are pushing to get rid of cash too. Some of it is to push to get tax money, other reason is to push negative interest rates, among other reasons. There way more black market transactions that just drugs, but drugs alone is valued at $360 billlion. Bitcoin would need to double to handle that. Meaning price will go up at minimum +100%

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I know this isn't the best reason for bitcoin to go up, but the underlying economics of it still hold true.

Submitted June 14, 2020 at 12:34AM by dancingbearstonks https://ift.tt/2AxC2Zk