PERSPECTIVE: How to Position Yourself for the Greatest Wealth Transfer in History!
On February 20, 2019, Crypto Finder published a video interview with Jesse Lund, the Vice President of Blockchain for IBM. During that interview, the host asked him what he thought the value of Bitcoin was going to be by the end of 2019. Lund speculated that he thought the coin would be worth $5000. But then he went on to say “I see Bitcoin at a million dollars, someday.”
Why is this important? Well, to begin with, Lund is far from the first person to predict that Bitcoin will be worth one million a coin someday. Entrepreneur and PayPal board member Wences Casares has stated his belief in the eventual one-million-dollar value for the coin. John McAfee of McAfee anti-virus software fame has predicted a million a coin by 2020, while Investor Tim Draper actually is predicting a long-term valuation of $2 million.
When successful entrepreneurs and executives for major international corporations continue to express their belief in Bitcoin’s eventual rise in value, it would be crazy not to take notice. But what does that mean for you?
Well, it means that if you invest approximately $4000 in one bitcoin now, there is a decent chance that you could be a millionaire in less than 20 years.
Impossible, you say. Nothing ever increases in value like that.
In 1997, if you had invested $4000 in Amazon as it went public on the U.S. stock market, you would now be worth a little over $5.36 million dollars. Amazon was started in 1994, during the early adoption of one of the biggest disruptive technologies to ever hit us — the internet.
Cryptocurrency is the biggest disruptive technology to hit us since the internet. It is the future of money. It is going to literally change the way that online transactions take place around the world. And since 70% of ALL monetary transactions in the world are currently done online, it clearly suggests that we are looking at a massive change in the way we handle our money. And the result will be the greatest transfer of wealth in the history of mankind.
Bitcoin’s value, other than serving as an asset value replacement for fiat currency, is as an indicator of the cryptocurrency market as a whole. It is considered the benchmark by which other cryptos are judged. Despite turbulent markets rocked by speculation and immense growth, Bitcoin remains healthy. And as we move away from the bear markets of 2018 and towards the future, it’s clear that the growth in cryptocurrency as a whole is inevitable and incredibly valuable.
What many do not understand about this nascent industry is that it is a child, just learning to walk. It trips occasionally and skins its knees, but it stands back up and takes another step. And just like our metaphorical child, we know that it will end up running at full speed in the not too distant future.
We know this because Bitcoin, while incredibly successful as a value asset, was originally designed to be a peer-to-peer electronic cash system. But its success as a token of value has all but destroyed its ability to be used in the day-to-day purchase of goods and services. That job will be taken on by one or several of the stablecoin or transactional coins systems that are beginning to debut in the marketplace. And at stake is nothing less than trillions of dollars annually.
So the question becomes simple — how do we position ourselves to best take advantage of the upcoming changes that cryptocurrency is going to make to society?
Well, the simple answer is to get involved. Obviously, there are many who suggest Bitcoin is a “sure thing” long-term investment. But it is hardly the only option out there. All the major coins have issued Whitepapers, which are official documents released by the company that outline the technology, product or service being launched. The question becomes, which ones will be the next Amazon, or Google, or Apple.
Many of us were too young, or not even born, when the internet caught hold and changed the world as we know it. A lot of these people believe that crypto is going to be as impactful to the future as the internet is today, and are determined to ride this new wave to financial success. With trillions of dollars at stake, those who take the time and effort to learn how to jump in during these early days will have the best chance of gaining monetarily.
The future is about to change. And cryptocurrency is going to be a leading component of this change. Many of our next generation of millionaires and billionaires will come from cryptocurrency. The question we really should ask ourselves is why shouldn’t we be a part of it?
