In response to this article by Bloomberg, I bet few people will dive into Bitcoin (specifically, ignoring TSLA here) is fairly incorrect in the short term and completely in the long term. Let's dive into these thoughts and see what you think! =]
Short term - companies struggling with technology will not adopt Bitcoin quickly. There are more companies struggling with tech than people think. There has been and will continue to be some relation between the ease of buying Bitcoin and # of companies/users adopting it. Thus, early as we are now, only the most technologically advanced companies will buy Bitcoin & this compared to all companies it will be small, <1%.
A second trend I foresee, as the difference between fiat real-world loss through inflation and Bitcoin's intrinsic value grows, so will adoption increase until the last Luddite gets into BTC. π€£
Long term - Bitcoin breaks and holds $1M+ per coin price for an extended period of time. Unless a nation-state can offer a realistic alternative to today's inflationary flat, Bitcoin will keep rising.Β
The world is noticing now though and a realistic possibility of government intervention to disrupt BTC becomes more and more likely. This may not be regulatory, though likely will be, as I could see a better version of money π° being offered by a country ready to be the next reserve currency for 50 years beating out BTC in the long term. Gov't can try to regulate it but I believe the counter-culture internet movement would rise up against this to make it irrelevant. History showed regulations didn't work in numerous countries already. Regulations aren't stopping the Bitcoin Moon Train, only a truly innovative project could dethrone it + developed from a country prepared to be the hegemonic leader of the world behind that money. ππΊπ²π¨π³
My bets on Bitcoin.
Who knew imaginary internet money would come so far! π And you made it to the end of this long post too, here's a digital cookie πͺ
Also, I'd love to hear your thoughts on the topic as well. I'm not really thinking so much about the price specifically either, despite mentioning it once above. I'm more curious if you agree that governments won't be able to regulate BTC. What about more companies adopting BTC in the short term? Always appreciate your comments friends, cheers!
