Bitcoin is going to one million dollars a piece, however, bitcoin will never see ten million dollar price tag.
How could i say this? Are you saying that bitcoin is going to die?
No, i am saying that at some tipping point no one will accept fiat for bitcoin.
We have long been discussing what happens when bitcoin starts to be adopted.
And some of us have talked about what happens when fiat fails
But what happens when these two paths do the criss-cross flip thing?
Bitcoin has been one of the best performing assets this decade.
Yes, there are many brief moments when other things have outpaced it, but they have usually been brief and spectacular.
Even just as a speculation vehicle, bitcoin has gone much further than ever i thought.
When adoption?
When Lambo?
Bitcoin seems to be secretly moving into all kinds of spaces. More and more, you can find ways to spend your bitcoin.
So, more and more it looks like adoptions is coming
Every day, in the financial news you hear about someone de-dollarizing.
Russia selling oil for Rupees
China buying oil for Yuan
The BRICS come together for non-dollar trade...
On top of this, we see so much inflation and money printing (but i repeat myself) that the dollar is not long for this world.
But, the dollar is the reserve currency of the world. And there is a lot of world out there. Sooooo, how long will the dollar take to collapse?
How long before it collapses enough that the normies want to get out of it?
Right now, in many places, everyone saves in dollars, because to them, it is stable, unlike their local currency which keeps falling.
At some point bitcoin is going to be seen as a much better place to store your money.
I do not know if this is after bitcoin hits $100k? Or when "we accept bitcoin" is seen in every store.
But, i am sure that at some point, bitcoin is going to start catching adoption.... and then the price will just go up and up.
Also, the dollar will become more and more worthless.
When banks close and people can't get their dollars, it may not be the value of dollar going down, but "dollars in the bank"'s value goes way, way down. (and cash, in hand, may go way up)
So, this continues until more people see bitcoin as the safe asset and dollars as the unsafe one. Then the stampeded happens... shortly after this, the gang plank will be pulled up and no one (only fools) will accept fiat for bitcoin.
I believe this point is somewhere between $1,000,000 and $10,000,000.
My reasoning is one million is a big enough number for all people to see and drool.
At that point, just the price is enough marketing to get people see it as viable.
And if the dollar losing value starts to become apparent at this same time, then it will become a much better bet to switch to bitcoin.
