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1. Valuation of Ethereum - Largest Utility Protocol Token
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Daily Ethereum Gas - 18/01/202178,877,780,000
https://etherscan.io/chart/gasused
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Average Ethereum Gas Price (Gwei)*30
https://etherscan.io/chart/gasprice
*Important to not choose a number when Gas Prices have abnormally spiked
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Total Ethereum fueling Transactions - Daily2366
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Ethereum Price (USD) - 18/01/2021$1,380
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Total USD Cost fueling Transactions - Daily$3,265,540
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Total USD Cost fueling Transactions - Yearly$1,191,922,134
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Growth in Quantity YoY150%
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Reduction in Resource Cost YoY20%
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Net Growth Rate YoY200%
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Years12345678910
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PQ - Cost of Transactions$2,383,844,267$4,767,688,534$9,535,377,069$19,070,754,137$38,141,508,275$76,283,016,549$152,566,033,098$305,132,066,196$610,264,132,393$1,220,528,264,786
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Velocity7777777777
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GDP of Ethereum$340,549,181$681,098,362$1,362,196,724$2,724,393,448$5,448,786,896$10,897,573,793$21,795,147,585$43,590,295,171$87,180,590,342$174,361,180,684
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Expected Value of Ethereum$174,361,180,684
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Current Value of Ethereum$158,310,362,844
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Cost of Carry - 10 Years0.97%
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2. Valuation of Bitcoin as the Dominant Store-of-Value
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Price of Gold per Troy Ounce$1,828
https://www.gold.org/goldhub/data/above-ground-stocks
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Metric Tonnes of Gold198,000
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Total Value of Gold - 17/01/2021$11,636,752,960,800
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Bullions - National Treasuries$1,978,248,003,33617%
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Bullions - Private Sector$2,560,085,651,37622%
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Bear CaseBull Case
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National Treasury - Multiple0.251
<- public sector is expected to be more conservative in adoption
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Private Sector - Multiple0.753
<- we can expect the private sector to be more willing to adopt new technology
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National Treasury - Bitcoin Valuation$494,562,000,834$1,978,248,003,336
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Private Sector - Bitcoin Valuation$1,920,064,238,532$7,680,256,954,128
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Bitcoin Market Cap$2,414,626,239,366$9,658,504,957,464
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Bitcoins in Circulation (Diluted)18,200,00018,200,000
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Bear CaseBull Case
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Value of BTC - Store-of-Value$132,672$530,687
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3. Valuation of Bitcoin as Part of the International Reserves
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International Reserves$12,000,000,000,000
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Fiat International Reserves$10,680,000,000,00089%
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Bear CaseBull Case
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Multiple of International Reserves0.10.75
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Bitcoin Market Cap$1,068,000,000,000$8,010,000,000,000
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Bear CaseBull Case
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Value of BTC - International Reserves$58,681$440,110
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3. Potential Valuation of Bitcoin
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Bear CaseBull Case
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Value of BTC - Store-of-Value & Intl Reserves$191,353$970,797
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4. Breakeven Point - Percentage of Success Required
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Price of BitcoinBear CaseBull Case
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$5,0002.68%0.52%
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$10,0005.51%1.04%
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$15,0008.51%1.57%
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$20,00011.67%2.10%
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$25,00015.03%2.64%
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$30,00018.59%3.19%
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$35,00022.39%3.74%
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$40,00026.43%4.30%
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$45,00030.75%4.86%
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$50,00035.37%5.43%
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$55,00040.34%6.01%
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$60,00045.68%6.59%
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