Cathie is betting on $500k by 2025. I am going for $1 million in a decade. From unbiased surveys, 5% of Americans hold crypto. Some other countries in South America and Asia which adopted faster have reached 30% of population with ownership already. As market cap goes up, volatility will decrease further and more people will be interested in digital payments. You don't have to keep half of your assets in crypto, just $1k-$10k is good for everyday payments. Credit cards companies charge far too much fees to businesses, and there is a positive trend to accept crypto payments. With 5x increase in number of holders and 5x amount per investor, overall market cap can reach 25x current level, especially with higher levels of interest from institutional investors who want a bit more diversification once BTC and ETH become less correlated with US equities. Since 2013, the number of crypto wallets and BTC price has seen 100% CAGR, which is organic growth and not merely inflation. We're nowhere near the relative peak during the last pump when there was barely any utility yet. And we're seeing higher lows every time after each dump. Increasing govt regulation and participation only lends to greater long-term credibility and legitimacy. Relatively speaking, BTC will stagnate while ETH and others gain dominance, which is why I hold most of my crypto portfolio in altcoins.
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Yes. A lot of people knew Amazon and Apple are good companies in 2009. Even with the housing bubble. Seriously. Google it.
Only a small fraction of gold is used in electronics.
https://www.statista.com/statistics/299609/gold-demand-by-industry-sector-share/
If price is pegged to industrial use, why is it price so volatile? And why was gold so valuable for over 2000 years of history since the ancient Greeks and Romans? Do you think they used it in electronics too?
Amount of gold mined has been increasing steadily over the past 100 years, contrary to your assumption:
https://en.wikipedia.org/wiki/Peak_gold#/media/File%3AWorld_Gold_Production_1900-2014.png
Back when BTC was $200, people thought it was overvalued and would drop to $0. Did they ever imagine that it would cross above $2000? Or $20,000? No, the people who made such outrageous claims were obviously "delusional"
Regarding FAANG valuation, it's easy to claim what you know now is evident in hindsight. We'll see what the future holds. My prediction might be off by a factor of 2x or 5x (either undervalued or overvalued), but even 20% per year is decent in my books, and a midpoint estimate of $1MM in 9 years would be 40% CAGR which is not unreasonable at the efficient frontier considering equal Sharpe ratios.
Says does not like fee yet want to use crypto with 5-9% fee
Says does not like cards yet want to use what? printed private key?
May I suggest you use Google? It's a search engine.
Or... Maybe you've just got yourself surrounded with your Bitcoin influencer bubble that you don't seem to listen to what these other Blind members are saying?
What's the point of asking when you won't listen anyway?
If almost everyone in your post is saying Bitcoin is shit, and you still won't listen to their arguments, while just spining up all the same narrative in every single Bitcoin ad out there, then . . . Whatever. I'm out.
Supply of BTC is capped and approaching its limit, while demand can increase 10x. Do you know what that means for the price?
I am not interested in engaging with your unfounded personal attacks because it's plainly not constructive or informational.
Why will Govt across the world will allow something which they don't control?
The banks are already offering bitcoin products to their clients. Government officials are starting to lobby for bitcoin. Itโs just a matter of time before the fiat game is up.
is same energy as
"If you think this casino is rigged you should bet money to prove it."
๐คก
Also LMAO @ calling your own peers greedy speculators. ๐คก๐คก