Something I've been thinking about is if the entirety of currency in the US was represented in bitcoin (bitcoins were the currency rather than dollars), how much would each be worth?
So there is about $1.2 trillion in circulation [1]
and the cap for bitcoins is 21,000,000
So there is about $1.2 trillion in circulation [1] and the cap for bitcoins is 21,000,000
1.2 trillion / 21 million ~= $57,142 per bitcoin
Is this right, or am I missing something?
[1] - http://www.federalreserve.gov/faqs/currency_12773.htm