“Our investment in Bitcoin is part of our new capital allocation strategy, which seeks to maximize long-term value for our shareholders,” said Michael J. Saylor, CEO, MicroStrategy Incorporated. “This investment reflects our belief that Bitcoin, as the world’s most widely-adopted cryptocurrency, is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash. Since its inception over a decade ago, Bitcoin has emerged as a significant addition to the global financial system, with characteristics that are useful to both individuals and institutions. MicroStrategy has recognized Bitcoin as a legitimate investment asset that can be superior to cash and accordingly has made Bitcoin the principal holding in its treasury reserve strategy. Mr. Saylor continued, “MicroStrategy spent months deliberating to determine our capital allocation strategy. Our decision to invest in Bitcoin at this time was driven in part by a confluence of macro factors affecting the economic and business landscape that we believe is creating long-term risks for our corporate treasury program ― risks that should be addressed proactively. Those macro factors include, among other things, the economic and public health crisis precipitated by COVID-19, unprecedented government financial stimulus measures including quantitative easing adopted around the world, and global political and economic uncertainty. We believe that, together, these and other factors may well have a significant depreciating effect on the long-term real value of fiat currencies and many other conventional asset types, including many of the assets traditionally held as part of corporate treasury operations.”
There are 2,208 billionaires in the world. Big bait attracts big fish. This wave will be the early adoption phase in the Billionaire class. Most Billionaires won’t consider buying Bitcoin until it’s worth $1 million per BTC.
The next 10 years are going to be even more amazing than the first 10 years. Market saturation feels likely in that timeframe.
Unpopular opinion: Even if bitcoin reaches $1 million, most people buying today are only buying fractions, so it’s not going to turn into “fuck you” money unless you buy at least $100k worth. It’s basically a dead horse.
The best analogy I can think of for buying bitcoin now is like drinking a old flat soda that’s been sitting in your hot car for weeks, that’s to say it’s lost its “freshness”. I have no doubt that it will still 2x, 5x, probably even 10x eventually, but the keyword here is eventually i.e. will it happen on a timescale consistent with what happened throughout the 2010s? Seems unlikely. The general sentiment I’m starting to see more of nowadays is that it’s no longer about getting rich within half a decade, it’s about parking your money in something stable (I use that word lightly) compared to your local currency, basically as the new gold. Okay, I can see that. But I still also see plenty of moonbois convinced that their $5 will turn into $5,000,000 if they put it into bitcoin and bury it in their yard for 5 years. That exact scenario was possible in the 2010s, but I’d be surprised to see it again. TLDR; bitcoin is going to grow very slowly in the years to come, and it can’t turn your McDonald’s paycheck into “fuck you” money in under a decade anymore.
10-16 14:04 - 'China's central bank has issued 10 million yuan ($1.5m; £1.1m) worth of digital currency to 50,000 people in the Shenzhen area via a lottery.' (bbc.co.uk) by /u/hodl_ninja removed from /r/Bitcoin within 2885-2895min
There are 2,208 billionaires in the world. Big bait attracts big fish. This wave will be the early adoption phase in the Billionaire class. Most Billionaires won’t consider buying Bitcoin until it’s worth $1 million per BTC. (x-post from /r/Bitcoin)
In a successful experiment, he pointed to a different world and “concrete economic consequences,” saying “one bitcoin is going to be worth $1 million. So, most of the world is going to wish they had bought it at $14,000 or $20,000” the risk notwithstanding and putting today’s bitcoin price declines in perspective. Bitcoin Believer Could bitcoin rise to $1 million? Theoretically, yes, although consider what that would mean. As of this writing, there are approximately 16.7 million bitcoins in circulation. An anonymous whale recently transferred 13,242 BTC worth $175.1 million for a fee of just $0.84. The transfer was first reported by a whale-watching bot known as Whale Alert. READ: Ripple owners say XRP will be worth $100. Businesses and individuals are fast adopting Bitcoin on the bias that it’s virtually cheap to transfer any amount of funds, and doesn’t exhibit stringent capital ... Bitcoin, well, that’s a different story. I think (Bitcoin) can get to $1 million in the same time period. In addition, Pal expects Bitcoin to reach a market capitalization of $10 trillion. The value of Bitcoin goes beyond being a store of value, according to Pal, the cryptocurrency will be the “future of our entire medium of exchange system and of money”. The former manager of Goldman ... His speech also included a prediction for the cryptocurrency, where one bitcoin would hit $1 million before the next ten years. Whoa. PayPal guy & @xapo @wences : only buy the #bitcoin you can afford… and predicts it will hit $1 million in 5-10 yrs #consensus2017. Casares has long been a tech entrepreneur. As the founder of Argentina’s first internet service provider, he is also among the ...
Will Bitcoin Reach 1 Million Dollars? Yes Here is Why ...
Due to Bitcoin's revolutionary "blockchain technology", Bitcoin's has a potential to go up from a $10,000, to $100,000 and even $1 Million USD, per Bitcoin. ... PayPal board member Wences Casares tells the CEO that Bitcoin will reach $1,000,000. IOTA wallets get hacked to the tune of $4 million. Reddit co-founder Ale... How much will bitcoins be worth? Bitcoins will be worth 1 million dollars. Ethereum will be #1 Use the code R8avSs and get 3% every time you purchase hashpow... Best-selling author and former hedge fund manager James Altucher is not backing down from his $1-million-dollar bitcoin call that he boldly made back in 2017... BITCOIN TO BE WORTH 1 MILLION (OR 1 BILLION) Subscribe our channel to gain more information ..