Let’s say #Bitcoin crashes to $100.
That’s a market cap of $2.1 billion.
A few dozen high net worth psychopath holders would buy up almost all of them (just in case) and USD price would be back up to today’s levels in no time.
The farther it falls, the faster supply is gone.
This really puts it in perspective
“What good is it for a man if he gains all of the #Bitcoin in the world but in the process loses his soul?”
Saylor just bought another 1/3,200 of all the #Bitcoin ever to exist.
For comparison that’s:
2.5 million people
20,300 millionaires
plus at least one billionaire
Just like that.
Let’s say you’re retiring now, 65 years old.
Let’s assume you live to 95 / 2053 (assuming medical advances next 20-30 yrs).
Also assume #Bitcoin continues its adoption CAGR and reaches mass adoption by 2039 or early 2040s.
“I’m too old to learn about #BTC” isn’t an excuse. 🤷♂️
There is a non-zero chance I am a complete idiot, and have progressively become dumber the more I have learned about #Bitcoin .
You should account for this, I have.
However, the more I talk to smart #Bitcoin ’ers like you all the lower odds I think this is.
Either we are all crazy, or none of us are.
Working on my text twitter thread…
Putting a lot of work into this one
#Bitcoin is the best performing asset so far into 2023.
Everyone knows we are entering a risk off period. Everyone.
It’s almost as if the #Bitcoin’ers might be right… However most won’t allocate even 5% of their bonds to #BTC because of emotions.
As the influence of political energy declines, the necessity for further control and power increases.
This is coming, it is inevitable.
The world will bifurcate towards increasingly communist CBDC and increasingly apolitical #Bitcoin .
Choose now or face increasing challenges.
2023 so far, summarized:
The rating agencies were wrong
Powell/Yellen were wrong
Biden was wrong
Trump was wrong
Bankers were wrong
Bitcoiners, thus far, have been the least wrong
✅Bank runs
✅Stimulus injected
✅QT ending
✅“Default or print”
✅#Bitcoin up (over 60%)
Brutal.
Jerome Powell testified before Congress that the banking system was stable and that the economy could continue to handle higher rate hikes.
48 hours later the second largest bank failure in US history was underway.
Either he was lying, or he genuinely didn’t know. 🚩
I believe #Bitcoin will take less than 30 years to be mass adopted, purely by adoption data of the internet vs BTC.
We are in year 14.
Probably have 10-20 years left.
Most retirees will live to see hyperbitcoinization.
30 year olds will only be 40-50.
Very different world.
Time to accumulate.
There are billions in the developing world that need to hear the message of #BTC before JP Morgan and Janet Yellen understand it.
Press on.
If number of #Bitcoin users triple, the network could become 10x more valuable because of network effects.
If adopters increases 10x perhaps it becomes 500x more valuable.
#Bitcoin could have 2% adoption and be trading at $3,000,000 in 2023 dollars.
Metcalfe’s Law is brutal.
I really started paying attention to #Bitcoin in 2020, when I realized the dollar was declining faster than I thought it was.
I was shocked El Salvador's adoption was as soon as it was.
I am, again, shocked at how quick these bank failures and reversion back to QE has been.
Strange world… picking up speed.
If someone says either of these things to me, I immediately loose all my respect of their financial advice:
1)“#Bitcoin is a scam” and can’t tell me difference between miners vs nodes or POW vs POS.
2) “Banks are safe” and can’t elaborate on fractional reserve deposits.
I want to make this clear.
I’m much less worried about banks failing or deflation.
I’m worried about the reaction to the banks failing.
We have no idea how bad failures will be and therefore no idea how much stimulus they will require.
Printer incoming. #Bitcoin
Wait a second.
A top 20 US bank that was AAA rated last week went bust within 48 hours because they were heavily invested in bonds with a “risk free” yield?
🚩
It’s as if everyone assumed others were doing due diligence, when nobody actually did.
Don’t trust, verify. #Bitcoin
21 sats is a lot of money.
That is 1/100 trillionth of the entire network.
If we have the assumption most folks will own 100,000 sats or less:
21 sats is 1/4,500th of one’s stack.
Perhaps multiple days worth of income.
You can buy perhaps dozens of days of income for $1.
Let’s see if anyone zaps this post in light of this perspective, haha. 🤣
"#Bitcoin is worthless because you can't use it at Chuck E Cheese... Chuck E Cheese tokens have more intrinsic value than Bitcoin."
What is wrong with Twitter folks?…
