Over the last few weeks, there have been big voices talking about this event called, hyperbitcoinization.
Now, even though it may sound like a bad thing, to some, (even some Bitcoiners) this may be something we don't want.
But before talking about the pros or cons, (if there really are any cons) let's talk about the word itself.
In a nutshell, hyperbitcoinization is when everything we buy is priced in Bitcoin. And not just that, but every countries balance sheet is in BTC, and when I say everything, I mean everything is in BTC.
Is this even possible?
Some argue that it's possible when more and more people are opting out of their fiat currency, and into crypto.
Others say that Bitcoin and fiat will live on together, and others...
Well, they may enjoy the benefits of crypto, but don't see how Bitcoin can be adopted on a global scale in the way many Bitcoiners believe.
What does this mean?
Many, like myself, are stacking sats, and not using what we are accumulating. (Except for possibly supplies in the near future and other needed things for the business.)
El Salvador is a use case, to see how Bitcoin will work in the long run. We can see in real time the ins and outs of how it affects their economy, and track it almost on a weekly basis.
What about B.R.I.C.S.
Some believe they will roll out their gold backed currency in the next year or so, while others call this a pipe dream.
The USD $ is the world reserve currency, and to get India to trade in their gold backed currency is a difficult deal.
Why? Because rumors are running saying India wants out of B.R.I.C.S.
Also, India is actually more hostile to crypto than many believe, and since they are hosting the summit, they have actually laid out a plan for how they believe crypto should be regulated.
This means that over a billion people are out of the cryptosphere.
Let's not forget to mention CBDCs.
China, India, Mexico, and Russia, will be releasing their currencies in digital form before 2025.
Many believe that the USA will have theirs ready by then as well.
Even if this happens by that time, we should not be surprised to see legislation stopping on and off ramps for fiat to crypto.
This would mean crypto will need to build the circular economy within this year, or by early next year to be ahead of the coming insanity.
Will hyperbitcoinization happen In 10 years?
Actually, I don't think it matters.
When we stack sats and build the crypto economy all of that other stuff will be noise.
Thanks for reading, and please let me know your thoughts below...👇🏻