Bitcoin was created in 2009 by an anonymous person named "Satoshi Nakamoto" who understood the financial crisis the world was facing better than anyone else possibly could at the time. He also understood economics, scarcity, and that the world was slowly moving towards an all digital financial system. Fast forward 11 years.
We are now amidst a new financial crisis. The stock market has been doing rather poorly since this coronavirus hit, people are scared to leave their houses let alone use actually fiat for transactions, and not everyone realizes it yet but they'll certainly be looking for a safe haven asset to park some of their money, until this all blows over. Money markets? Maybe. Gold? Ehh questionable but also maybe. Real estate? I don't even think we've reached the point of cheap real estate quite yet.
So what will everyone look for? Digital gold. An easy way to store money online so that you don't have to worry about spreading germs when using it, and also something that isn't correlated to anything else. Not stocks, not gold, not real estate- they are all too closely correlated. I believe Bitcoin is the answer we are looking for. We are still in the infancy stage of cryptocurrency. Like the internet in the 90s- not all that many saw its merit or inherent value initially. It took time for things to really take off but now look where we are! You, like me, and like mostly everyone else, use the internet every single day of our lives.
Bitcoin & cryptocurrency as a whole is where the internet was 20 years ago. New ways to transact, spend, store, save, create, are being dreamed up & eventually made every single day. The easier it is to actually spend your Bitcoin, the closer we get to mass adopting an entirely new system, whether people are onboard yet or not. The day is coming close though. New applications are being built & it is really only a matter of time before the floodgates open & people come pouring in to get cryptocurrency.
This is the perfect storm- banks failing, nobody wanting to use actual cash anymore, a virus spreading through the world which makes you rethink personal hygiene, & stocks seemingly going lower every trading day. Bitcoin is here now. Get it while you can. The reward halving is next month & that will only mean more scarcity & less being sold because less is being created. That is really what dictates the price overall. Supply & demand. So far demand seems to be growing & supply is about to shrink. I've been saying all along, the real price appreciation doesn't seem to happen until after the reward halves. We are only about a little over a month away. What will happen? Who knows. But I happen to think it'll be very positive.
The masses are coming. They might not know it quite yet but they are. The good thing is we beat them to it. We created this space together & we will continue to build value upon top of it. So stock up while you can because there will come a day where a whole Bitcoin or even a fraction of one isn't at all affordable to the common person. Currently you can stack a tenth of a Bitcoin for only $600 something. Someday though if Bitcoin hits $100,000 years down the road? You'll need $10,000 for a tenth. I'd say that's a pretty good ROI.
Nobody really quite grasps what the future holds yet but my prediction? I'd say the future is looking pretty damn bright for Bitcoin.