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Although Bitcoin started much later than gold in 2009, Bitcoin’s network effects benefit from the scale and speed of the Internet. This is because Bitcoin is a digital asset and its backers are digital natives. So while the number of people who own Bitcoin has now surpassed 100 million, starting from zero in 2009, the number of people who own gold has been relatively static over the same period. It remains to be seen how widespread the Bitcoin network will become, but if it can reach the same market cap as gold, each Bitcoin would be worth about $500,000.