Bitcoin is in an unprecedented situation, a place that most bitcoiners would have thought impossible just a handful of years ago. We are closer than ever to Bitcoin officially making it for “good,” and causing the largest transfer of wealth in recent history.
With all of that said, there is one final boss standing in Bitcoin’s way. If it can defeat this obstacle, there is no limit to how high Bitcoin’s price can go. All predictions will be thrown out the window.
The interesting thing is that this final boss isn’t who or what most people have been expecting.
For years, bullish bitcoiners have been dreaming about what it would actually take for Bitcoin to make it and what would be its final challenge. The general consensus came down to the IMF (International Monetary Fund). They control the money, and if the world moved toward Bitcoin, this could result in them potentially losing their power over countries.
When an animal is cornered, that is when you’re in the most danger.
However, shockingly, as time goes on, it appears that the IMF isn’t going to put up the fight we thought they were. It isn’t even banks, who have quickly maneuvered into crypto to secure their piece of the pie and not get left behind.
The only other hypothesis of who this enemy could be was governments. During the US Biden Administration, this fear came close to being fulfilled. Especially when Elizabeth Warren and Gary Gensler appeared to make cryptocurrency their biggest enemy.
But then Donald Trump was elected President, and everything changed. He campaigned hard with Bitcoin as one of his main running points. After being elected, he has fulfilled nearly all of his Bitcoin-related promises, capped off by creating the National Bitcoin Strategic Reserve. Since then, other countries have been having discussions and are beginning to follow suit.
The IMF cannot go against Bitcoin when the US has now become one of its biggest proponents.
So then what else is there that is holding Bitcoin back?
The answer has always been sitting right in front of us, and we knew it all along. Obtaining mainstream adoption.
You may be thinking that Bitcoin has already achieved this, but you would be wrong. ETFs' surge in popularity have helped, but we haven’t turned the corner yet.
Think about your family, friends, co-workers, and acquaintances. How many of them actually own Bitcoin? The answer is likely to be very few of them.
For Bitcoin to finally make it for “good,” we need normal investors to recognize that they need to have exposure to this asset class. Similar to how they continue to buy the S&P 500 index each time they get paid.
When Bitcoin has reached this level of mindshare and respect, that is when Bitcoin will have officially made it and will go to astronomical price levels that we could have never imagined before.
That will be Bitcoin’s final boss.
How about you? What do you think is Bitcoin’s final boss?
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