bitcoin goes to US$50,000 - 1,000,000 in 10 to 20 years!

in bitcoin •  2 years ago

I am a hedge fund manager, and I am convinced that Bitcoin is going to beat all other asset classes to be the best investment one can make today. It is changing the world. If you're smart enough, it will make you (filthy) rich, when everybody else starts using it more and more alongside with their fiat money.  

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What is the argumentation behind your claim?

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The governments have been robbing us for centuries by printing more and more paper money. They create inflation that devalues the money under your name on a daily basis. Bitcoin was created to be capped at roughly 22 million. With 'dead' wallets and many other reasons, the total circulation of bitcoin will never be over 20 million. By supply and demand, it has only one way to go, up.

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I believe it is 20 billion, isn't it?

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No. 22 million.

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22 Million Bitcoins... ok...got it. I was thinking in dollars.

Why are you so convinced? If you are smart enough you should know that this kind of emotional overreaction doesn't work well with finances and investments.

Can you develop your ideas a bit? Where are these numbers coming from? How has bitcoin changed the world so far?

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It's never emotional, but a simple calculation. I'm sure you've heard of blockchain (you're commenting on a blockchain platform). While banks around the world are adapting to the blockchain and bitcoin, more and more places are accepting the new currency, and more and more 'traditional' social networks and ecommerce are being created on the new platform (think steemit and open bazaar).

As for investing or trading, one will never be ruined if he is smart enough to do it correctly...

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Bitcoin market cap is around $10.5 Billion right now and it is insignificant at this for banks to spend too much time on it and governments to regulate. I agree about blockchain decentralized currencies being the future, but there's a long road ahead. Nothing says that bitcoin will be the winner. Governments at this point have all the tools to stop it any time they want. They have enough power to manipulate and control the crypto-currency market if it fits their needs.

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Everything points to BTC being the winner, you think about it every other alt trades against it, and day traders in altcoins rarely , if ever go back to fiat, they just trade to accumulate more BTC. it is like the USD of the crypto world. Personally i havnt been back to fiat in over 2 years and just keep adding and trading to build a better btc position. take a good look at the OBV and Market cap of BTC over the last few years.

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You may be right, but all great things started with very meager beginnings. Bancos (banks) were just a few benches outside of the gates of ghettos in Venice. Microsoft was once just a little company in Albuquerque run by a kid....