Not too late..
Good morning everyone and congrats to all HODL’ers. We finally broke the 20k mark, while also breaking 21,000, 22,000 and 23,000 for a little while. As I’m writing this the current bitcoin price is around 22,750. Many people believe it’s too late to join the train. Many anticipate a large correction and when this happens they say they will buy in. From my research, it won’t matter in 2025-2030 after ANOTHER halving or 2 what price you bought in at in 2020. If you bought bitcoin at 5k, 10k, 15k, 20k, or 25k, the difference will be minimal after bitcoin is valued where it should be. Recent reports surfaced Wednesday from Guggenheims Scott Minerd that the research they’ve conducted estimates the value of a bitcoin based off finite supply is around 400,000. This is similar to the estimate made by Tyler and Cameron Winklevoss (the first bitcoin billionaires).
Tyler / Cameron estimate that the value of bitcoin will be similar with gold if this is correct, a bitcoin would be worth 500,000. To break this down a little, the total worlds supply of gold (market cap) is rough 10 trillion dollars. Bitcoins market cap is pushing 420billion dollars. The theory of the twins Tyler and Cameron is that gold and bitcoin will meet in market cap as the years go on, and when they do a 500,000$ bitcoin is inevitable. As time goes on, more and more people are using bitcoin as an inflation tool against the highly printed dollar and realizing how scarce bitcoin truly is.
Raoul Pal CEO & cofounder of Real Vision has been an advocate for bitcoin for years and explained how the difference in 2017’s push and 2020’s push are completely different. In 2017 it was pushed by retail fomo. (Fear of missing out) everyone created an exchange account and started purchasing. The difference this time around is the fomo from institutional investors and large hedge fund managers. Raoul further explained that in 2017 the wall of money to back bitcoin was not there, now it has dozens of billionaires backing it, along with giant macro whale investors. Google searches were up 1000% on “bitcoin” during the 2017 run vs where they are now. Moral to the story. It is not too late to expose yourself to the scarcest asset in the world. Thank you and have a great day.
