For Bitcoin Haters – Sorry, Bitcoin Has Won. It Is Always Time To Join the Revolution
Bitcoin's success is inevitable.
|Sylvain Saurel||Feb 20||1|
Bitcoin has just passed the $50K mark. It's a big barrier that's crossed, but you won't see any Bitcoiner overly excited. Anyone who has supported Bitcoin for years knows that this is just the beginning. Bitcoin is promised to reach a much higher price in the future.
Bitcoin will eat everything in its path. The revolution is underway, and nothing can stop it. I'm sorry to say this to the Bitcoin haters, well no I'm not sorry actually, but Bitcoin has won.
This idea born in Satoshi Nakamoto's mind more than twelve years ago now has become a phenomenal success. The people's money supported by the people had a special year in 2020 which will probably be remembered as the tipping point in the future.
Specifically, the coronavirus pandemic will be remembered as this famous tipping point so dear to Malcolm Gladwell. The current monetary and financial system was a patient who was already sick long before the coronavirus pandemic. COVID-19 only accelerated the process. It is in times of economic crisis that the flaws of the current system become even more noticeable.
On the other hand, it is in these times that the benefits of Bitcoin are even more apparent. When the Fed and other central banks print more than $12 trillion out of thin air in a few months, you can only better understand one advantage of Bitcoin: its maximum supply is hard-capped at 21 million units no matter what.
Faced with the great monetary inflation that the aggressive monetary policies of central banks triggered, institutional investors quickly realized that Bitcoin was the best store of value available. Bitcoin, not gold. Sorry, Peter Schiff.
Bitcoin is a version 2.0 of gold. A store of value accessible to the greatest number of people. A store of value adapted to the world of the future where everything will become digital.
De facto, the big companies are realizing that their balance sheet has every interest to become partly digital. This is what Michael J. Saylor has been doing for MicroStrategy since August 2020. Tesla has just followed Michael J. Saylor's lead with a $1.5 billion purchase of BTC. This represents 8% of the cash reserves of one of the world's most valued companies.
Anything is now possible. The next ones could well be Apple, Microsoft, Google, or Oracle.
Bitcoin has won the battle over all its former opponents who eventually join the revolution sooner or later. It is only a matter of time because Bitcoin's success is inevitable. American banks got the green light from the OCC (Office of the Comptroller of the Currency) in the summer of 2020 to offer Bitcoin services to their customers.
So far, no bank had jumped on the bandwagon.
As a sign of a changing world where everyone has to evolve or risk disappearing, it is finally the oldest bank in the United States, BNY Mellon, which is the first to enter the world of Bitcoin. The prestigious institution will offer services to buy/hold Bitcoin to its clients.
If this is not a good thing from the point of view of the Bitcoin revolution, since those who will buy Bitcoin through their banks will not have access to their private keys, it is a sign that Bitcoin will become mainstream in the coming months and years. Things are accelerating.
Bitcoin's market cap is nearing an even more significant mark, which is the $1 trillion mark. This mark will be reached when the price of Bitcoin reaches $53.7K. Again, it is only a matter of time.
If Bitcoin has won, it is not because it has a first-mover advantage or superior technology over its competitors. Bitcoin won because its monetary attributes are superior. Bitcoin has reached the maximum of what a decentralized digital currency can do. This allows Bitcoin to inspire the most confidence to the greatest number.
In the end, it's all about trust. People who buy Bitcoin do so because they trust the security of this decentralized network. They trust that Bitcoin is a NgU technology. Its price has been rising steadily over time. To be successful with Bitcoin, you just need to have enough confidence in its revolution.
This confidence then allows you to become a Bitcoin HODLer no matter what. This strategy is currently profitable for almost 100% of the people who have bought Bitcoin since its creation.
We are reaching a point where no one can decently ignore Bitcoin anymore. The most interesting thing if you read this article is that just 1% of the people on Earth have BTC at most. This shows us that the Bitcoin revolution is just beginning and that the best is yet to come.
Don't be surprised in the coming months and years to see more and more former fierce opponents of Bitcoin joining this revolution. As they see that they cannot beat Bitcoin, all of them will eventually join it. The interest of retail investors is to join the Bitcoin revolution before all these big players to take full advantage of it.
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