pull down to refresh
1 sat \ 2 replies \ @doofus 15 Mar \ parent \ on: Nayib Bukele Publishes El Salvador’s Bitcoin Address - 5,689 BTC worth $400M+ bitcoin
How much would the US have to buy to match El Salvador’s Bitcoin/GDP ratio
I'll bite....El Salvador has a GDP of 22 billion usd and they have 5,689.68 bitcoin.
The GDP to Bitcoin ratio for El Salvador can be calculated as follows:
GDP / Bitcoin = USD/BTC
22,000,000,000 USD / 5689.68 BTC = Approximately 3,865,533.19 USD/BTC
El Salvador has approximately 3.86 million USD worth of their GDP for every Bitcoin they possess.
If you want to achieve the same ratio for the US, where the current GDP is estimated to be approximately 21.43 trillion USD (or 21,430,000,000,000 USD), the formula would be as follow:
Bitcoin = GDP / (USD/BTC)
Bitcoin = 21,430,000,000,000 USD / 3,865,533.19 USD/BTC =
5,543,866.51
The calculation suggests that for the US to have the same ratio of GDP to Bitcoin holdings as El Salvador, the US would need to have approximately 5,543,867 Bitcoin.