Can Pi Network Surpass Bitcoin After The Open Mainnet

About Pi Network

Pi Network—which first appeared in December 2018 and officially launched on March 14, 2019 (Pi Day), with growing community participation since then—is their solution. Today, more than 35 full-time members of the Core Team around the world strive to enable a community of more than 47 million passionate members and spread across the globe to carry out decentralized efforts towards to the common purpose.

Cryptocurrency enthusiasts worldwide are closely watching the Pi Network, a thriving community of millions engaged in mining the Pi cryptocurrency. Unlike traditional mining methods, Pi Network leverages an innovative mobile mining mechanism, rewarding its community for diverse contributions to the Web3 app ecosystem. This article delves into the intriguing question that’s recently surfaced on Twitter: “Can Pi Network surpass Bitcoin after the Open mainnet?”

The Pi Network community is buzzing with speculation about its potential to outshine Bitcoin. The Open mainnet has sparked intense discussions, with consensus feedback pouring in from enthusiasts. The community is eager to unravel the possibilities and challenges that lie ahead for Pi Network.

Imagining Pi Network’s Price Equal to Bitcoin

In a hypothetical scenario where Pi Network’s price equals that of Bitcoin, the implications are staggering. With a total supply of 10,000,000,000, achieving a market capitalization equal to Bitcoin’s would imply a Pi Network capitalization of $370,000,000,000,000. However, given the current market capitalization of $1,400,000,000,000, such parity seems unlikely.

Cryptocurrency Market Cap

The Case of Pi Network Capitalization Matching Bitcoin

Investors are contemplating the idea of Pi Network’s capitalization reaching parity with Bitcoin, speculating a price of $72. This number has gained acceptance within the community. It’s noteworthy that the current price of Pi on HTX or Bitmart is $36, making the $72 threshold a significant milestone if achieved.

Factors Influencing Price Increase

Predicting a product’s price increase involves a multitude of factors. For Pi Network to attain the value of Bitcoin, time is a crucial element. Presently, Pi Coin is exclusively traded on Pi Network’s network, not officially listed on any exchange. All predictions regarding Pi’s current price are speculative and based on assumptions.

The trading status of Pi Coin is a critical aspect of its valuation. Limited to Pi Network’s network, its absence from official exchange listings adds an element of uncertainty to the price predictions. Investors must exercise caution and consider the evolving nature of the cryptocurrency market.

Conclusion

In conclusion, the prospect of Pi Network surpassing Bitcoin is a captivating topic within the cryptocurrency community. Achieving parity with Bitcoin is a journey that requires time. Pi Network’s value will be established through sustained contributions and developments within the community. Quick assumptions about its current value should be tempered with the understanding that true value is proven over time. As the Open mainnet unfolds, and discussions continue, the future trajectory of Pi Network remains uncertain yet filled with potential.