BRF #42 Bitcoin To $1M?
BRF #42 Bitcoin To $1M?
I don’t think people realize just how delicate financial systems actually are, because at the core fiats are ponzi schemes that require everyone to buy into them in order for them to thrive. Now in general a financial system requires society to “buy into it” in order for it to be successful, however as I have mentioned no matter how ambitious the project- fiat currencies just don’t last! The average fiat currency lasts just 27 years.
Bitcoin is currently 13 years old, as I have said many times its already done its job! If Bitcoin were to go away today, it already won!
That being said I think its great to see so much renewed interest and free marketing in Bitcoin over the last 12 months, as the crypto grinder effects widen, millions will have no choice but to find safe haven in assets like Bitcoin, only after losing everything in Walkaflokcidogeinu coin of course.
That is actually Bitcoin’s strongest selling point and why the store of value narrative will work in the long run because mostly people have no other choice right now. Products like Hex are great alternatives as well, however the marketing and messaging just isn’t there though so trying to convince someone that Hex is better than Bitcoin is probably a waste of energy, even though from a store of value, its proven itself over the last 2 years to be better from an ROI standpoint.
Recently we have all been hearing about El Salvador right, he keeps buying up more bitcoin, well today this got posted and spread around pretty far.
Why would the IMF even post this publicly? Well that would tell me that private conversations haven’t worked up till now and that the IMF is genuinely concerned that this will create a cascade of others to follow suit and that the IMF, BIS, USD ponzis will be negatively affected.
You stack that on top of news like this and things start to stack up badly.
Did you know that if enough countries all of a sudden stopped using USD as global currency, it would rug pull the entire ponzi? This is especially fragile towards these attacks when over 40% of the entire supply has been created in the last 2 years.
Now lets pivot back to Bitcoin and wrap this all together, currently Bitcoin mirrors S&P 500 market moves pretty closely. This can’t last, especially once fiat fears really start getting pronounced and its realized that similar to metals, Bitcoin is a safe haven. At that point the correlation breaks and Bitcoin starts running all on its own and because its still “new” and NOT gold, it will inflate way more! This is probably the only type of scenario where you would see Bitcoin to $1M.
Maybe it would go like this…
As legacy continues to struggle and the narrative continues to fall apart to justify 22x valuations
More countries will move to Bitcoin as a hedge against all this inflation (you think US inflation is bad due to excess dollar printing, its 10x worse in emerging markets that also operate off the USD for debt etc)
As retail sees this happening while they are seeing inflation going up (which it will!), they will start to realize they once again “missed the trade” and that its in metals and bitcoin!
Correlation breaks and bitcoin runs to moon and back. It could literally happen in a few days, but to be realistic due to size of the market now, probably more like few weeks to a month.
A few parting questions to think about…
How often do people stop and think about how much money they lose each year in taxes, inflation, interest rates etc? Even at the Fed mandate level of 2% inflation, you are losing over 30% of your money over 20 years! Did you know that?
How often do people stop and think about the entire financial system and how the Federal reserve was created as a separate entity outside of government or country aka money is created and owned by less than 20 families, why is this ok?
Why is it ok to allow policy over this crypto space and domain when they have all proven themselves to be corrupt, inept and ignorant to what the people want and need?
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