The opportunity for retail to front run Wall Street, institutions, and nation states on Bitcoin is waning.
Let’s begin with a few basic facts:
How can you not be bullish?
My contention is not, however, that all of these developments are ideal for the average person. I’d much prefer bitcoin to remain in the hands of everyday retail investors over institutions, much less governments. And still some 99% of retail investors, investment advisors, and others on “main street” view Bitcoin as a speculative investment, “magic internet money,” or worse. It’s never too late to get in, but time is running out to accumulate much at the discounted rate of $90,000 per coin.
That said, we are today where we always would inevitably be. It’s hard - impossible, even - to outrun the best form of money ever to exist. And people are waking up to it.
Depending on how things play out - the Microsoft vote, a national strategic Bitcoin reserve, etc. - Bitcoin adoption (and it’s dollar-denominated exchange rate) could increase quickly and dramatically.
The only kinds of people who believe they have enough Bitcoin are those who 1) don’t have any because they think it’s a scam and 2) those who haven’t studied it.
For the rest of us, the “cheap Bitcoin” train might well be leaving the station in the very near future, never to return.
As Satoshi Nakamoto himself said, “It might make sense just to get some in case it catches on.”
Indeed, it seems to be doing just that.
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