+$1 Million BITCOIN
I am amazed how many people out there have been smart enough to put a cap on the Target Price of BITCOIN..!!
These delusional experts who are predicting a $3,000..... $4,000...... $5,000...... $10,000...... $50,000...... target for BITCOIN are kidding themselves..!!
I am amongst a handful that has set an UNLIMITED TARGET for BITCOIN, and if I had to set a target, I would BEGIN at $1,000,000.
Setting a target when you are trying to measure one item that has a fixed quantity against an item that has an ever increasing quantity is a mathematical impossibility.
Anyone who thinks that they can do this is way, way, way, way, way, smarter than anyone who has walked this earth.
For me it is very simple.
Until someone can tell me how the hell on earth do Banks & Governments intend to fund +$750 Trillion of Global Unfunded Futures Liabilities I intend to stick with an UNLIMITED TARGET for Bitcoin..!!
For the ones who missed a recent interview I did with @JoshSigurdson here is the link.
Fixed at a cap of 21,000,000 coins and with a price of $1,000,000 per Bitcoin this would leave BITCOIN with a Market Capital of a mere $21 Trillion..!!
Global Unfunded Futures Liabilities
$21 Trillion is pocket change considering there is +$750 Trillion of Global Unfunded Futures Liabilities that have absolutely no way of being funded.
If, over the next decade, this +$750 Trillion of Unfunded Liabilities drops then I will drop my target for BITCOIN, however I doubt this will ever happen.
The Global Financial System is in a mess, a real mess, and has been since the advent of the Financial Derivatives in the mid 1980's.
In conjunction with Fractional Banking, these toxic Financial Derivatives saw the end of the Free Market and since then we have been in a +35 year downward spiralling decay of Economic Growth based on deceit, fraud and manipulation.
You will wish it was 2008
If you thought 2008 was bad, you will wish it was 2008.
2008 was nothing more than a wakeup call that the system does not work and if you thought things were repaired you are sadly mistaken.
Things were not repaired, the cracks in the system were merely patched over.
These cracks have now reappeared, only this time bigger.
BITCOIN has no DEBT
Unlike the Global Financial System, BITCOIN has no DEBT.
With a fixed cap on supply it is this that gives BITCOIN the ultimate power over Fiat Currencies and it is only a matter of time that the penny finally drops with people.
Measuring BITCOIN against BANANAS
Measuring BITCOIN against $USD is no different than measuring BITCOIN against BANANAS.
If there was only ONE unripe BANANA left in the world, with no chance of there ever being another, then you could argue that 1 BANANA could cost you 1,000,000 BITCOIN.
Now let's say there was a 1,000,000 BANANAS then you could argue that 1 BANANA would cost you 1,000 BITCOIN.
Fast forward to the worse scenario........
Now let's say there was a 1,000,000,000,000,000,000,000 overripe, inedible BANANAS, then you could argue that 1 BANANA would cost you 0.00000000001 BITCOIN simply because no one would want them.
Instead of BANANAS think of Fiat Currency.
What we have is 1,000,000,000,000,000,000,000 crappy worthless pieces of paper instead of inedible BANANAS, being valued against a fixed cap of 21,000,000 tangible and trade able asset.
+$1 Million BITCOIN
Fiat Currency is a Debt Instrument whose value will ultimately drop to ZERO, whereas BITCOIN is the total polar opposite.
It is this total polar opposite that cements the UNLIMITED price target of BITCOIN and why I am sticking firmly with my +$1 Million Target Price..!!
Thanks again for reading.
Stephen