Huge Wealth Transfer Coming Up?
Are we going to see an enormous transfer of wealth over the next few years?
The global economy is in collapse. In the United States, the Federal Reserve is pumping billions into the wallets of Wall Street firms like Blackrock while truckers are out of work and suffering.
We are rapidly moving towards a food shortage as pork and beef is taking a hit. Commercial fishing is in a free fall. Milk is being dumped. Crops are being buried as they turn.
In short, the situation is a mess.
All the while the politicians point to their little charts telling everyone how the lock down needs to persist. This, in spite of the fact, that hospitals are starting to call their bluff, publicly stating how few patients there really are especially in light of the fact that elective procedures are cancelled.
This is all leading many to conclude that Bitcoin and other cryptocurrencies can explode. It is being projected that Bitcoin could grab 3%-5% of the gold market.
It means that the $225 billion market cap could see a rapid increase over the next 6 months. If we are indeed heading towards a depression, people are going to be looking for alternatives.
Bitcoin could see the greatest transfer of wealth in human history. A 5% share of the gold market would give Bitcoin a price of $28,000.
Of late, most cryptocurrencies saw a rise. This could be the beginning of something much bigger. Over the next few months, people are going to start to understand how bad things really are.
Millennials already do not trust the existing financial system. This is tarting to extend out. The more people who are harmed while the fat cats on Wall Street get richer, the more open they become to an alternative. Cryptocurrency offers that.
Many are expecting crypto-economics to take over. As the existing system shows its flaws, people are going to start to opt for something else.
This could present an enormous opportunity for those who are involved in cryptocurrency. Crypto millions could soon be a "dime a dozen".
At the very least, I hope this opens the door for cryptocurrencies to establish themselves as actual currencies rather than just Millennials looking for gateways to a new Lambo through insanely risky "investing."