Three decades in financial markets – with a front row seat to the tsunami-like power of capital flows, and experience watching the impact of MAJOR game-changing technologies like the internet…and companies like Amazon.com…tell me cryptocurrency’s bull market will be the biggest of all time. As in, last year’s historic “bubble” will in hindsight be viewed as a mere appetizer to what’s coming – like Amazon’s stock rising from $4 to $86 in 1999, before “crashing” back to $5 in 2001. Let’s see where it is today…wow, $2,002!
The moral of the story being, that betting against massive capital flow changes is financial suicide – particularly in a world of limitless fiat currency creation and parabolic population growth. To wit, even by 1999’s sky-high standards, the internet has dramatically exceeded all expectations…just as cryptocurrency will over the next two decades. And by “cryptocurrency,” I don’t just mean Bitcoin, but dozens of other digital assets.
Yes, Bitcoin’s monetary dominance is unassailable – to the point that it could become THE global monetary standard…which is why I have essentially my entire liquid net worth invested in it. However, with TRILLIONS of dollars’ worth of capital set to flow into the sector – perhaps, TENS of trillions – demand for niche crypto applications will be limitless…and with it, the opportunity for select altcoins to be amongst the biggest winners in financial history.
As the sector shakes off the cobwebs of the consolidation of last year’s first-phase adoption explosion, a new one will arise – in which, institutional capital will make Bitcoin a global phenomenon, and countless altcoins huge investment gainers. Those who bet against them will be annihilated…particularly, “maximalists” who believe only Bitcoin can exist in the crypto space.
Tether will be fine; BCash will be fine; projects associated with “gurus” like Charlie Lee and Dan Latimer will have relentless, cult-like support; and quality projects that were mocked during the bear market – like BRhodium, which is set to launch imminently – will surprise even the most ardent bulls (like myself).
In my view, cryptocurrency will have the same impact on the political, economic, and social aspects of our lives as the internet, television, printing press, cotton gin, and essentially every major technological breakthrough in history…at a time when more capital is available to invest than ever before. Making the mistake of being bearish will be fatal, no matter what angle one takes.