Tips hat to OA for his well timed Bitcoin sell. Excellent as usual.
Now, for the rest of the Internet declaring Bitcoin is dead please review these other 120 obituaries written about Bitcoin going back to 2010.
You see, Bitcoin is a Sewer Rat. Bitcoin has been declared dead and crawled out of the grave many times to continue to rise in value and credibility.
No entity or government controls Bitcoin. No Fed, no PBOC, no EU. Just pure market dynamics. Bitcoin is not dead, it’s just getting started. And like many disruptor in early stages, Bitcoin is volatile as fuck. Caveat Emptor. If you can’t stand the heat, get out of Bitcoin. To the early adopters go the greatest rewards.
And for the newcomers, here are some FACTS:
- Bitcoin is the best performing currency 6 of last 7 years.
- Bitcoin is at ~16B USD market cap. Slightly larger than Twitter. 10x that is peanuts in financial world.
- There will only ever be 21 million Bitcoins. That’s .003 per human on the planet.
- BTC is easily divisible to .00000001
- A $1 trillion market cap in Bitcoin is $62,500 PER BITCOIN
- Capital flight from China has been closely linked to Bitcoin.
Bitcoin could retrace to ~$720, which takes us all the way back to … late November. If that’s the case I’ll be buying by the boatload. See you at $10k.