We have all heard the stories. That Bitcoin and cryptocurrency will cause the largest transfer of wealth the world has ever seen. That is why most of us have joined this market. Over the years, after you have fully gone down the rabbit hole of Bitcoin, you begin to believe that not only is there a chance of that situation actually happening, but that it is a certainty.
With everything that has been happening around the world over the last few years, it appears that everything is lining up in a perfect storm for Bitcoin. The world’s largest empire, the USA, is seemingly at its breaking point. Beginning to lose control over its largest weapon, the US dollar. With incredible amounts of debt that seem impossible to repay. Due to Covid money printing has had to ramp up to unprecedented levels, with over 70% of all circulating US dollars being printed within the last 3 years. This has caused inflation to soar, and the already impossible debt situation to become even worse. Other countries are paying attention and have begun trying to separate from the dollar.
All of this debt, inflation, and countries losing trust in each other all lead to one thing; Bitcoin. We have already witnessed the US government come out attacking Bitcoin and crypto. Perhaps they are already very aware of how dire the situation really is, and that has made them become defensive. They are a wounded animal that is cornered and there is no predicting what they will do. With that said, the odds on bet are that they will do anything they possibly can to hold on to their power. They will try to print their way out of a possible great recession. And they will also try to make it much more difficult to have access to Bitcoin. To put it simply, to protect the power of the US dollar, they will try to block the exit ramps to Bitcoin.
There are two key takeaways from that possible scenario.
The first is that everyone who has already exited the fiat system and has been investing in Bitcoin will do extremely well. The fiat world has hundreds of trillions of dollars in debt that will cause a stampede rush toward Bitcoin. Realistically not all of that money will come to Bitcoin, but a large chunk of it certainly will. The market cap of Bitcoin is currently at around $500 billion. This means that the price of Bitcoin could soar higher than any of us can possibly imagine. A Bitcoin price of $1 million not only is possible but would be a bearish amount in this scenario. Those of us who have built positions in Bitcoin and other blue-chip cryptocurrencies will be saved from the chaos around us. Bitcoin is our life raft.
However, the second takeaway is much darker. The reality is that most people will go down with the ship. They either are ignorant of the situation, don’t pay attention to finance, or always believe or trust that the government will protect them. Many of us who have been in Bitcoin for years have tried to tell them why this asset is so important, and why they need to own some. But, most of the time they have had little to no interest in our advice.
The harsh reality is that Bitcoin is similar to Noah’s Ark. It is the thing that can save us, but not everyone can be saved. Most people will watch the fiat system sink before even thinking that they should take proactive measures or invest in Bitcoin and crypto. During that time period, there will be extreme pain around the world. People who only have fiat will see the value of their entire savings evaporate overnight. Even the rich aren’t safe in this scenario.
The difficult thing about finance and power is that out of desperation they can hold on much longer than most believe. But then will come to an end in an instant. When people ask when Bitcoin will finally take over. The answer is that no one knows. It could be next year, two years from now, or even a decade. As time goes on, Bitcoin continues to become stronger and that scenario becomes even more likely.
How about you? What percentage of the people you know are invested in Bitcoin?
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