THIS Is Why Bitcoin Is Soaring Today
Well… there’s this:
But I actually think why it’s up today is irrelevant. In fact there’s nothing new today in the tweet above, and no one can predict with much accuracy where Bitcoin will be tomorrow.
I published a 10 year $1M price target on bitcoin in January 2021. It’s weirdly much easier to predict what’s going to happen in 10 years than tomorrow. While no one can predict with much accuracy the outcome of one coin flip, most of us can predict quite accurately the outcome of 10,000 coin flips.
The math behind my $1M price target is simple. It starts with the fact that Bitcoin is markedly and OBJECTIVELY better than gold. Google it if you don’t believe me. And gold has a market cap today of $13.67 (at $2,037/oz). I think Bitcoin will dramatically grow the demand for store of value, and that it will reach $40T in 2031. If Bitcoin gets half, that’s $1M Bitcoin.
The other fundamental belief I have is in the power of community. Bitcoin is run by a community. There’s no one in the middle able to f*** us. And all that we need for the price of bitcoin to go up, is for the community to grow. And it’s unfathomoble to me that more people aren’t going to see Bitcoin for the glory it is. And they’ll join the community.
They’ll feel late. But everyone feels late. That they missed it.
But I think it’s barely started. Only a tiny percentage of people own it. Everybody’s welcome to own it. But even if only a few percentage of the world joins the community, I’m pretty sure Bitcoin will be well past $1M.
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This content is for educational purposes only. It does not constitute trading advice. The author of this article may hold assets mentioned in the piece.
