Raoul Pal: Bitcoin To $1 MIllion By 2025
"Boomers are f*ucked".
The global macro investor put out a report dubbed "The Unfolding". It paints a poor picture of the financial future.
One can grasp the two biggest takeaways as this: Bitcoin will head to $1 million as the market cap tops $10 trillion and Baby Boomers are f*cked.
They will take advantage of every run up to sell their portfolios in an effort to salvage whatever retirement they can get. This is coupled with the fact that pension are completely screwed.
“The damage this does to the US pension system is incomprehensible. The Baby Boomers will sell every rally they can to protect their last, rapidly diminishing nest egg,” he summarized on the market losses from March.
The coronavirus sent the markets plummeting yet the stock market has recovered some from its March's low. It did this in the face of rising unemployment which is one of the biggest problems with the financial system.
Companies are able to churn more profits while individuals are left to suffer the fallout.
This is why many feel that Bitcoin is a better option. Pal views it more than just a store of value or medium of exchange.
It is an entire trusted, verified, secure, financial and accounting system of value that can never be created outside of the cryptographic algorithm. It is nothing short of the future of our entire medium of exchange system, and of money itself and the platform on which it operates.
https://cointelegraph.com/news/boomers-are-fcked-new-macro-report-forecasts-1m-bitcoin-by-2025
If there is indeed a prolonged recession which hinders the markets, the boomers are going to face a tough road. Most of their wealth is either in real estate, businesses, or the stock market. All three could take a major beating as the impact of the coronavirus is felt.
Will this enhance Bitcoin going forward? The development of an alternative financial system is certainly needed. Cryptocurrency is providing options for people.
If Pal is right, the onus the boomers place on society could collapse it. There is already a problem with an aging population which requires more services than when it is younger. Add in the fact they will have few financial resources and we can see how the system might get overloaded.
That could force many to look to cryptocurrency.
Yeah, but is he going to eat his dick when it doesn't reach $1 million by 2025?
Well, this looks like a bomb. If you dig a little deeper, you find this analysis logical because the world is moving towards digital currencies.
There is only one big problem in this prediction...
that any boomers looking into crypto will drive the price over one million.
So, it won't be 2025, it will be sometime soon.
And it will seem to happen overnight.
If we go from 1-2% owning bitcoin to 10% looking at getting into bitcoin, the price will go no bid real quick.
Further, we don't have to wait till 2025, because the dollar is going to hyperinflate in all meaningful assets. Food, bitcoin, gold... will all be much higher priced next year, not in five.
Lastly, everything in those boomer portfolios is going to lose 99% of its value as they get remade.
Million dollar mansions are going to become "anyone who wants to live there go ahead and try" as the weather and the coastline changes. Heating fuel becomes too costly and you just can't grow a good garden there.
While, desert land, that today is dirt cheap will become the home of new communities that are "off grid" thanks to innovations in power production with passive solar heated earth ships year round greenhouses.