Anyone who ever bought Bitcoin looks pretty smart right now. As COVID19 was heating up – BTC was still trading around $10,000. You didn’t have to be an early adopter to post 10x gains in crypto. Just buy and hold for a few years.
Part of the fun is all the Bitcoin hate we saw during the 2017 bull run. It topped out at around $20,000 – when the US government opted to “pop” the BTC “bubble”. That 2017 bull market high doesn’t look so high anymore!
Now Bitcoin and the crypto complex can’t be ignored. Big money is looking for ways to tap into the Bitcoin market. No less a company (tech cartel member) than Microsoft is holding a shareholder vote to decide whether or not to add Bitcoin as an asset on the balance sheet.
The real question now is – why buy anything but Bitcoin?
Just The Facts…
Forget about all the ideology in the Bitcoin whitepaper. Who cares. No one thinks about decentralization. It’s all about returns!
When it comes to creating returns – nothing in history beats cryptos. Bitcoin is a banger, but the recent crop of memecoins like Pepe look even better. You can’t argue with the numbers.
Anyone who knows Soros’ take on reflexivity will understand we are on the cusp of the biggest potential bubble in human history. Most people don’t own cryptos. They may not know what they are, or they may not want to buy them.
Sorry lads – money talks!
If you want some other examples of earth shattering bubbles – click right here. The French Mississippi Scheme is a great read. Cryptos could be a much larger mania – and global.
Here is a lovely little poem about the Mississippi Scheme in authentic old timey language:
Some in clandestine companies combine;Erect new stocks to trade beyond the line;With air and empty names beguile the town,And raise new credits first, then cry ’em down;Divide the empty nothing into shares,And set the crowd together by the ears.—Defoe.
The scheme unwound the French financial system – and arguably supported the French revolution.
There is no other asset that creates the returns crypto does – and the world is watching. Just wait until the throbbing masses start buying!
Apparently – Gold And Cryptos Aren’t Money
Modern Monetary Theory is great. No one really seems to be able to pin it down – but we can create as much money as we want – and both gold and Bitcoin aren’t money.
Jerome Powell might be pandering to the incoming President McTrumper with his recent comments on Bitcoin – or maybe he is saying the silent part out loud. In a recent interview Powell stated that, “Bitcoin is not a competitor for the dollar, it’s really a competitor for gold.”
Outstanding!
We agree – there is no competitor when it comes to fiat currency. The difference between the Argentine Peso and US Dollar has a lot to do with military assets – not monetary theory. Read the excellent work below for more info on that!
Why Did Cryptocurrency Become Money? A Look at The Modern Money System
Central bankers can produce as many Dollars, Euros, Pounds, Pesos and goodness knows what else as they want. Over in crypto land – we can produce as many different tokens as we want.
Sometimes – looking your way Pepe and Doge – they are very popular.
It’s all money now baby!
The System Isn’t Ready For Crypto
It wasn’t hard to co-opt Bitcoin – greed did most of the work. With returns like these – literally no one in the money game can resist getting into the game. The real problem now is the institutional feeding frenzy. And the global retail buying tsunami that will hit markets soon.
However – there is a small issue. When people accept Bitcoin, they will accept loads of other tokens as money too. It may not be direct – there could be platforms that make it easier to use volatile tokens as money – but when the returns come rolling in – no one will want fiat currency anymore.
The internet is global – so the crypto boom will be global too. 2024 might not be the last time we see a five-figure Bitcoin price – but it will be the year we cite as the time when seven and eight-figure BTC prices became possible.
Dump the normalcy bias y’all – there are no roads where we’re going!
No Choice But To Buy
Whether or not Microsoft opts to buy BTC is kinda irrelevant. There will be mass BTC buying regardless. The fact Microsoft is voting on a Bitcoin buy should make you pay attention.
In 2017 – there was nothing buy vitriol from the tech and banking cartels for Bitcoin. Now, BTC ETFs are red-hot – and Microsoft might buy BTC as a reserve asset.
The crypto world shifted.
Companies all over the world will buy Bitcoin as a reserve asset – and it won’t stop with BTC. Top tokens like SOL, ETH, XRP, ADA and TRON are all on the corporate buying list – even if the big boys don’t know it yet.
We are entering a world of inflation, and fiat currency won’t work as a long-term store of value in the coming decade. Whatever the overlords think of cryptos – they will be forced into using them – at least as a hedge for fiat currency collapse.
(Again – take the time to read a bit on the Mississippi Scheme – time well spent – link here.)
Watch The Junk Trade
Everyone is going to feel like the smartest person in the room!
Bull markets make people think they are investment wizards on the way up. Look at memecoins – which may as well be perpetual lottery tickets. Some of these tokens – like PEPE – make it simple to 10x an investment. And not too many people are in the game right now.
As more people hear about someone making big gains from a little-known token – the masses will flood the lower end of the market. People are into cryptos for ONE reason – fiat gains.
Very few people care about decentralization or creating new financial systems. The seething masses are POOR and want to be rich. That silly smirking frog created some big gains – so it likely won’t end with PEPE.
There are billions of people out there – and they have smartphones. When they realize how easy it is to buy cryptos – the flood of money will be the stuff of myth. Remember – the smart one sells. Something to keep in mind for the rest of the decade.
