Aged like a fine wine. I think it’ll go sideways and slope upward until the Inauguration. If Trump mentions his BTC reserve and puts the final kibosh on the BTC ban, we’re heading northward.
On the BTC ban, Blackrock and other whales aren’t going to allow that as long as they are making money.
Current BTC 74,955.74
Hit another all time high yesterday. $89,864.13
The Minimum it’ll be in 10 years is probably 6x, the maximum around 50x.
There will be retracements but in the long term, it’s set and forget. Just don’t forget your key phrases or leave it on an exchange.
As it stands, we’re right on the mean of the power law model.
Currently
Trump gave it a bump. I wrote about it here: The financial position we should we take to protect our families now that Trump won big
But think about it. The president elect gave Bitcoin the biggest bump anyone could hope for and it’s only up from the $70s to the $80s and coming back down again. What’s that say?
Well, it hit 100k, somewhat ahead of my prediction.
It will float around 100k for a while. People will buy in, people will cash out, it’s an inflection point.
When the BTC reserve starts to fill, straight to the moon Alice!
Actually, I’m somewhat more reserved than that, I’m predicting low 100s by the end of 2025.
At some point, this bull run will run out of steam and will retrace back fairly massively, so we may see some serious peaks and some real drawbacks. It’s BTC, we were back at the low teens not that long ago, so a pull back to even 60 wouldn’t surprise me.
I wish I would’ve bought a few hundred dollars of it about 10 years ago when Pete Hegseth was talking about this “new currency” on Fox News. SMH
Can you imagine buying when it was less than $1?
$1000 would now be over $100M!
That’s what I was saying! My better half said to “do it” wish I would have listened.
Of course, even if I did buy it for $1, I probably would have sold it when it hit $100 (or sooner) haha.
If Senator Lummis’s legislation to sell our gold at Fort Knox and buy Bitcoin with the gold, passes… Bitcoin will go to $250K.
Can you imagine trading the most valuable thing on earth for digits?
I gotta find a newbie semi-safe way to get in on this, lol. Is there a good bitcoin ETF out there?
If you want a stock based on the movements of Bitcoin, here is an interesting one started by Michael Saylor.
MicroStrategy Incorporated (MSTR) Stock Price, News, Quote & History - Yahoo Finance
I put some play money in it yesterday just to see what happens over the next couple years. It’s up 584% over the past year.
But the value hasn’t gone up. It’s still the same.
Only the price went up because a few politicians have publicly announced that they are considering using guns to force people like me (who don’t want it) to buy it.
That’s not real demand.
Again, the value hasn’t budged. It’s utility hasn’t increased. No bank on earth considers it a Tier one asset. And the price only went up when the government threatened that they may force people like me, to buy it.
It does’t get much worse than that.
Microstrategy is going to go bankrupt. There just isn’t another future to that Ponzi scheme. You heard it here first.
Here is how Microstrategy works:
They know that funds can’t hold assets, they have to hold stocks. So they created a stock directly tied to the price of Bitcoin. And as the money comes in, they spend it on pumping up the price of Bitcoin by buying more Bitcoin. LOL.
Again, it isn’t an increase in demand or utility that is causing the price to go up. And the value hasn’t budged.
There is no safe way. It’s purely speculative. Let me try it this way: Did you buy your iPhone in hopes that one day someone will pay you more for it, than you paid for it? Of course not. You bought it because it has actual utility. iPhones are in real demand. The government doesn’t have to promise to pump up the price of Apple stock buy buying millions of iPhones. Unless you need to move a billion dollars to the other side of the world in 10 seconds, Bitcoin has zero utility.
Let me restate your sentence from…
To…
I gotta find a way to get in and out on this.
And I wouldn’t even do that.
It has, the ability to do micro transactions on chain and layer 2s that can handle them even cheaper have all improved lately. Ordinals and Runes are both new to Bitcoin allowing for inscriptions written into the blocks.
It is decentralized and permission-less. It is fungible, not inflatable by central governments, has built in scarcity, portability and durability.
There is no other instrument that has all those. Other crypto are close, but beyond crypto, no bank or currency or gold has the above.
It is not a CBDC, don’t confuse the two. A central bank, digital currency is evil and should be shunned as much as possible. No one is going to point a gun at you and force you to own BTC.
10 years from now, people will still be clamoring that it’s all a scam. This will be right about when it tops 1 million per coin.
I see the price of BTC and I think tulip bulbs. If you have not heard of the phrase “tulip mania” then read the link below. The value to BTC is what people (purchasers, sellers) perceive as the value at any given point in time. Like most other speculative markets, there is some underlying base (floor) value of some unknown (yet to-be-determined) quantity, but the current price is heavily-influenced by the present emotional state of the universe.
Why?
Can you drop 10,000 tulip bulbs into your pocket? Can you let them sit in the sun or drop them into the Marianas trench and retrieve them unharmed?
No, there’s nothing at all similar between them except the people that don’t understand what bitcoin is and people referencing a “run” on it.
You can park your BTC on the network at home, fly to Japan and pull it out, billions of it if you wanted. Tough to do that with a bulb or gold or even dollars.
You can scribe non-fungible token into the BTC network for real-title on something. Unique, non-duplicable item, secured on an uncrackable network. Tulip bulbs can’t do that either.
People have been calling bitcoin all of these things(fake, scam, tulip bulb, etc.) since it’s inception and they have and always will be wrong.
Is there some speculation in it? Sure, but it does have utility, it does have portability, and fungibility, and security. The list goes on.
As a note, I would never suggest anyone go “all in” on BTC. I will suggest that you will miss out on all the gains as BTC follows a power-law model if you don’t own some of it. When I sold my pickup truck, I put half of that into BTC. About 3k. Right now that 3k is worth 12k. Not bad. I wish I’d kept my BTC from 13 years ago when I was a multi-whole coiner. I could retire full time then.
I suggested up thread that you should buy 1 million satoshis, put them on a cold wallet and give it to your grand kids.
You absolutely missed the boat and actually made my argument for me. What is a tulip bulb worth? About 65 cents at current market rate… How would you feel now if you had purchased that same tulip bulb in 1637 for twice your then annual salary? So, I ask you… what IS a bitcoin and why it is worth $100,000? $1,000,000? You are saying that it is a secured transportable token of value. It is anything but secure and has wildly fluctuating value. What if during your flight to Japan, all the governments of the world unite to decide to outlaw BTC? You bought BTC in the USA before your departure and are now trying to sell BTC in Japan upon arrival, you think you will get the same price?
I am glad you made money on BTC. Great for you. But, everyone, please realize that you made money based upon your casual bet that the price of BTC would rise, not fall. Some people made fortunes in the Holland tulip market in the 1600’s, but most ended up losing their life savings.
A bitcoin is a representation of a certain amount of work that has occurred.
It is no different than a chunk of gold in that respect. It takes work to mine gold and now you have a thing. It can be used industrially, but essentially it only holds value because we deem it to have value.
The US dollar is even worse. They just create it with a keyboard. In fact, debt creates dollars.
Just because it can fluctuate, does not make it a tulip bulb. As it becomes more wildly adopted, it the swings will, and in fact have, flattened significantly.
No one is going to outlaw BTC. You have some of the largest players in the world involved in it. Blackrock et. al. will make sure of that.
but most ended up losing their life savings.
At no point would I suggest putting your life saving into BTC. I do suggest you get some of it. It’s still early. It may plunge precipitously from where it is right now even, but when it comes back, the new all time high will be higher still. Buy $50 worth, that’s a meal at McDonalds for a family of 4.
This morning it’s floating right about 100k as people are selling. It was over 100k again some hours ago.
