The Biggest Mistake You Can Make With Bitcoin Right Now Is Not Buying It
The Bitcoin price was $18.2K when I wrote this story. At the time of publication, the Bitcoin price has just undergone a significant correction bringing its price slightly below $17K, whereas Bitcoin had reached an annual high of $19,390 two days earlier.
It must be said that everything is going very fast in the Bitcoin world these days.
The good news that has been accumulating for months has continued to strengthen Bitcoin’s fundamentals. The Bitcoin revolution has continued to progress while the Bitcoin price has remained stable between $9K and $10K.
Eventually, some people lost patience and confidence in Bitcoin. But the real signal was clear: Bitcoin continued to grow week after week.
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Those who do not adapt to the Bitcoin revolution will be overwhelmed
The many important players coming into the Bitcoin world were not mistaken. From MicroStrategy to Square to institutional investors to PayPal, everyone now wants to embrace the Bitcoin revolution.
With a monetary revolution as powerful as Bitcoin, it’s certainly best to get there as soon as possible or risk being overtaken. If history has taught us one thing, it is that those who ignore innovation always end up being overtaken.
Every time I say this, I can’t help but think back to the ultimately similar stories of Kodak and Nokia. Kodak invented the digital camera but did not believe in his invention. This new process became a revolution that made Kodak obsolete.
Nokia was the undisputed leader in cell phones just before the iPhone appeared. For not believing in the smartphone revolution that would start right after the launch of the first iPhone, Nokia finally lost its footing.
In life, if you should only have two golden rules, it should be these:
- Evolve or Be Extinct.
- Adapt or Die.
These two rules mean the same thing of course, but they are there to remind you that if you get stuck in the past, you will no longer be part of the future.
We are at the beginning of a decisive moment for Bitcoin
With Bitcoin, we are one such moment away from that. The world is changing, and in the future, everything will be digital.
Bitcoin will replace obsolete and unfair systems. Millennials are already massively adopting Bitcoin, and for Generation Z, Bitcoin will be the standard. I’m not even talking about the Alpha generation, which will still be wondering how we ever accepted such an unfair system as the one we have now.
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Bitcoin’s success in the future is inevitable.
So the demand for Bitcoin is going to explode in the years to come. Bitcoin meets the great need that will continue to grow: to protect its wealth over time in a way that is resistant to censorship.
Bitcoin gives you total control as long as you have the private keys associated with your Bitcoins. Most interestingly, Bitcoin will enable the financial inclusion of hundreds of millions of people who have always been excluded from the current monetary and financial system.
The most interesting thing about the current Bitcoin price is that it is just the beginning
The most interesting thing when you look at the current price of Bitcoin is that we are only at the beginning. Buying Bitcoin when its price is $18K is still a unique opportunity. By the end of the year 2021, Bitcoin will reach a price between $50K and $100K in my opinion.
For Citibank, the Bitcoin price could even reach $318K by the end of 2021.
I have been a convinced Bitcoiner for a long time, but I still find this forecast from Citibank extremely optimistic. But if it happens, you will be part of the Bitcoin revolution if you bought Bitcoin today.
I remain convinced that Bitcoin will reach the price announced by Citibank but probably on the next 4-year cycle that will start after its fourth Halving expected in 2024.
Eventually, Bitcoin will reach the gold market cap. This market cap is $9,000 billion. Bitcoin’s greatest value proposition today is to be the best store of value available to the greatest number of people. Bitcoin will therefore progressively replace gold in this role.
To give you an idea, if Bitcoin’s market cap reaches $9 trillion, then the price of Bitcoin will be at least $428K.
Just the mass adoption of Bitcoin as a store of value will bring its price beyond $500K
As the adoption of Bitcoin by the general public continues, Bitcoin will become a generalized means of payment, and ultimately a unit of account. It will take time, that’s for sure, but Bitcoin will get there.
Even if Bitcoin doesn’t make it, as some of its critics say, its price will be close to $500K by the end of this decade. Indeed, the endless inflation of the U.S. dollar will continue to benefit the rising price of Bitcoin.
We are currently experiencing a Bitcoin rally that has seen its price rise from $10.5K in early October 2020 to about $17K by November 26, 2020. And yet, the general public has still not returned to buy Bitcoin. Currently, it is smart money that is producing this increase mainly.
Investors with a long term vision come to bet on Bitcoin because they have total confidence in its future.
The biggest mistake in 2020 is not buying Bitcoin
As an individual, the biggest mistake you can make at the end of 2020 is not to buy Bitcoin. You may still have doubts. For this, nothing better than reading the Bitcoin white paper, but also books that will help you understand how money works.
You will end up seeing for yourself that the current system, based on the infinite printing of fiat money by the central banks and the public debt that grows infinitely, is not sustainable. It will eventually collapse. It is only a matter of time.
Buying Bitcoin is therefore the best way to protect yourself against this uncertain future. It’s up to you to make the right decision to secure your future regarding money. As always, you are the only one who can really take care of your future.
The key is learning to deepen your knowledge. It’s up to you to make the right choices. For me, it is buying Bitcoin.