What is the Future of BITCOIN?

BTC has done it and broken the resistance many thoughts weren’t possible…12k, and as of yesterday, the Bitcoin price, shoot even being above 10k is fairly unknown. Well over the past 3 years, BTC hasn’t spent much time above 10k. November 28th, 2017, we break 10k and push up to 20k, but then fall back under by January 31st, 2018. A total of 65 days above 10k. Then we broke 10k for a tad bit of time, between February 2018 and March a total of 22 days to be exact.

Finally, we broke 10k again on June 20th of 2019, and basically stayed above it until September 20th of the same year, a total of 92 days above 10k. And finally, the most recent one which began on July 27th of this year, so we have a total of 22 days above 10k since then. Adding all the days together, we have basically stayed 6.5 months, just over half a year, over the past 3 years above 10k. That is just 18 percent of the time. That means, there is the chance for bullish price discovery, as a flurry of shots, gets absolutely blown through.

Now people understand this is unknown territory, and if the past has told us anything, shorting when we get into this unknown territory can be very profitable. So pulling back out the 3-year price chart, when we fell under 10k in January of 2018, the price immediately dipped into the 6k range, rebounded but eventually fell into the 3k range.

Sorters, they made out like bandits then. Then we broke 10k again in June of 2019, by March of 2020 the price had fallen to the 5k range, shooters once again made out pretty damn well during that time so now that we have once again crossed the critical mark, there shouters, who have been around this the whole time, who could foresee it happening again. Thus in my personal opinion, there is a lot more money, for the exchanges to be made in the short term on the way up, then the way down.

Renting the bearish whales, who think the past is an indicator of the future. As I personally don’t see too many people putting in too many LONGs when the unknown is staring them right in the face. That’s just my opinion, who knows what these markets could do in the short term, but the long term bullish case for BITCOIN is being written like a storybook before our eyes. This case is Bitcoins verifiable, immutable, and ever-shrinking supply of Coins There’s a Bitcoin shortage if you didn’t know. It only going to get more apparent as the clock goes tick, tick, tick.

So let’s talk about BITCOIN Supply. It’s a controlled supply system using computer code, and the peer to peer network of bitcoin nodes and miners. The Bitcoin generation algorithm defines any currency that is generated by a poisonous. That’s basically how it works, and as we know, the 21 million BTC supply hard cap is coded into the bitcoin protocol that is the MAX supply that will ever be created, and the release of these coins is following a halving schedule, where about every 4 years, the total amount issued per year is cut in half.

Scarcity is a feature of BITCOIN, not a bug like some would lead you to believe. Satoshi created BTC as he anticipated it just might replace the traditional money supply. If Bitcoin remains a small niche, it’ll be worthless per unit than existing currencies. so it would be worth much more per unit, and he goes on to compare this with a Euro Example. So he was kind of predicting, and anticipating, bitcoin being where it is today, being used for some fraction of world commerce, and Satoshi said, regarding this “then there’s only going to be 21 million coins for the whole world”.

That is the keyword, only 21 million coins, for the whole world.

actually going to be less than that. It’s estimated between 2.5 million to over 3.5 million BTC are lost forever, so you can take that down to at max 18.5 million coins. Which if you didn’t realize where we are on the emission schedule, that is about how many coins are actually in circulation right now, or have been emitted about 18.5 million. So, we are already at the max, 18.5 million & imagine how many millionaires there are in this world?

Estimates by the 2019 global wealth report put it around 47 million.

They are the top of the global wealth pyramid, just .9 percent of the population, which owns 43.9 of the global wealth. Now if every single one of these pyramid toppers wanted some bitcoin, you could need to dive 18.5 million by 47 million, and that gives you a total for each millionaire, just .39 of a BTC. Now, these millionaires own a diverse range of assets, stonks, real estate, companies, and many precious metals as a hedge.

Why wouldn’t they want BITCOIN as it surges back into the spotlight & deeper into mainstream thought? I’ve always held this thought, even when I first got into the industry, the limited supply & number of millionaires alone could push BTC to limits we only dreamed of, as having a whole BTC could become a powerful symbol of sorts for millionaires in the future. And the millionaire tide is turning.

I’m sure you heard last week Micro strategy was adopting BTC as their primary reserve asset, by purchasing 21,454 BTC for a price of 250 million. Do you know who Micro Strategies founder and CEO is?

Multi-Millionaire, Michael Saylor and guess what Mike tweeted in 2013 “Bitcoin days are numbered.

It seems like just a matter of time before it suffers the same fate as online gambling” But it isn’t only the millionaires, there are billionaires too. Over 2100 of them worldwide according to the most recent estimates. And this arena of people, are the ones whose portfolios are majority made up of businesses and shares in companies, controlling seats, corporate governance heads & the like.

These people always have a wide web of power and control. And when they start turning towards BTC, you know things are looking ripe. In May of this year, it was announced that famed hedge fund Billionaire, Paul Tudor Jones was buying Bitcoin as part of his portfolio to hedge against inflation. And he actually explained the move and how much of his portfolio is in BTC, let’s listen in now.

Regards

TMS