Bitcoin is the great gift from the universe to save the poor and the middle class from poverty.
Bitcoin is not an actual coin. It is a software created 13 years ago. Many say it was perfectly designed by the unknown Satoshi Nakamura. No one knows who Satoshi is.
Satoshi created a protocol that as Bitcoin adoption increases, its limited supply increases in value. After creating Bitcoin and mining a few million Bitcoins, Satoshi disappeared. His Bitcoin never moved, and nothing was ever monetized or spent.
Only 21 million bitcoins can be mined and nothing more can be created. Currently, 19 million Bitcoins have been mined. It will take until 2140 to mine the remaining Bitcoin. When you subtract Bitcoin from Satoshi, there are only 17 million Bitcoin left for the nearly 8 billion people in the world.
This makes Bitcoin a very rare and limited asset and the hardest money ever created. Bitcoin is both a store of value and a digital currency.
Bitcoin is permissionless, and anyone, anywhere can buy it. It cannot be inflated, confiscated, frozen or controlled by any government, company or individuals.
It can be moved anywhere in any quantity in seconds with extremely low costs. You can keep it yourself and no one can ever take it from you. It’s perfect money.
Bitcoin is not a corporation. There are no CEOs, no accountants, no lawyers. It has no head office and the government has designated it as property and not as security. It is the safest asset ever created. Even a quantum computer cannot hack it, as the cost of electricity required to operate the Bitcoin block system is astronomical.
It is true that Bitcoin is volatile. Its price can swing massively. However, no one who has owned Bitcoin for four years or more has lost a penny. The fact is that Bitcoin has increased in value by an average of 135% per year since 2009.
FROM AFAR
Bitcoin is the best performing investment of the past decade, bar none. No stocks, no real estate, no precious metals, no diamonds, no art. There is no investment that comes close.
Until March 2020, no public company owned Bitcoin. Bitcoin was entirely in the hands of the retail customer. Now, very large public companies are buying Bitcoin, and mass adoption is imminent.
Recently, Fidelity Investments announced that it would allow its clients to allocate up to 20% of their 401,000 in Bitcoin. They control 401,000 trillion assets. There is no doubt that other major investment firms and banks will follow their lead.
According to Fidelity, Bitcoin will be worth $7-10 million per coin by 2030. You might be thinking that because Bitcoin is trading around $29,000 at the time of this writing, you missed out because you didn’t. didn’t buy when bitcoin was much cheaper. It’s not true. You’re still really, really ahead.
Only around 190 million people in the world own a bitcoin. The richest 1% of the population only owns 3.4 bitcoins, with the vast majority having less than one bitcoin.
MOUNTING TIDE
Two countries have given Bitcoin legal tender: El Salvador and the Central African Republic. Over the next year, more countries are expected to introduce Bitcoin as legal tender. Like the Internet, adoption will happen slowly, then suddenly.
There is a giant wall of money, a virtual tsunami, coming to Bitcoin. Those who buy now will reap incredible returns over the next 10 years. Those who don’t will kick themselves for missing out on the greatest opportunity to get rich the world has ever seen.
Bitcoin adoption is on par with the internet in terms of adoption in 1997. Back then, few saw the true potential of the internet. Bitcoin adoption is now beginning to be embraced by Wall Street and major investment funds around the world. As they enter the asset with their trillions of investable capital, the price of Bitcoin will skyrocket.
Every innovation has its detractors. In the early 1900s, how many said electricity was too dangerous to put in your home? That the car will never replace the horse? Is the Internet just a fad? Critics and naysayers always tell you why it can’t be done or can’t be successful.
LITTLE AT A TIME
You can buy Bitcoin with every paycheck and average dollar cost. Take a percentage of the money you spend on your desires and buy some bitcoin instead. You can buy as little as $5 at a time. Starbucks or Bitcoin? Beer or Bitcoin? Stuff you don’t need or bitcoin? Restaurant or bitcoin?
It is true that some trade Bitcoin. However, those who hold on to Bitcoin have been shown to profit the most over time.
I have spent over 500 hours studying Bitcoin. Through this study, I was introduced to the world of finance and government tax policy. Bitcoin changes you. Your world will open up and your understanding of our world will be radically altered. You will feel empowered and your self-esteem will blossom as you take charge of your finances and your life.
Here are some educational sources that I have found indispensable. First, an hour-long non-political YouTube interview between Tucker Carlson and Michael Saylor of Microstrategy Inc. is a great primer.
Then check out Trader University on YouTube. There are hundreds of free bitcoin videos. There are also some that cost little, but the free videos will make you an expert.
The Office Corner on Youtube is also a great resource. Not just for Bitcoin but for all things in the Crypto world.
Once in this rabbit hole, you will enter a world where you will rejoice in your good fortune.
Louis Pearl is a Grass Valley resident.