Bitcoin Trending Up, FUD Has Dissipated, As Expected
Bitcoin is an asset that does more than just appreciate in price. Thus, buying it only for price appreciation falls very short. These are some of the major financial players in the US buying and holding Bitcoin, this week. Now Paypal is hiring managers with crypto currency experience to manage their alternative payment systems. Here is the list of investors in Bitcoin this week:
- Ark Invest has purchased ~20million in Bitcoin
- Cathie Wood says bitcoin will rise to $500K
- Globant has bought $500k in Bitcoin
- Ray Dalio – “I have some Bitcoin”
- Goldman Sachs - “Bitcoin is a new asset class”
Billionaire Carl Icahn has bought a lot of Bitcoin, here is his recent interview below, click here to view.
Why are new investors flooding into Bitcoin like never before, even during this three month consolidation it is in? Because, inflation is becoming more obvious. The breaking news today, that President Biden is proposing a $6 trillion budget to take spending levels above anything in US history. This will make inflation much worse, if it passes. The US economy would take years to fix. Here are lists of companies running to the USD exits, in exchange for Bitcoin:
The Bitcoin in treasuries list is now worth $80.5 Billion, and that is after recent corrections:
The first ten years of Bitcoin’s existence it passed every other asset in terms of return, on a $100 investment. See this early 2019 comparison to other assets:
Since 2009 Bitcoin has weathered many attacks, chances to fail completely, and has outperformed all assets by a very wide margin. In 2021, the Bitcoin treasuries list explains it in detail. Bitcoin is the winner, and will continue to be the winner, amongst investment assets globally. The institutional adoption it has seen ensures this will continue. The 2024 halving we already know will happen, ensures this adoption will keep growing. No matter how big the US M1 and M2 money supply gets, Bitcoin will always be the scarcest asset, the hardest money, the most secure network, among all other assets. 10 of the last 12 years Bitcoin has had the best returns. That is a consistency that cannot be ignored. The fog of the energy FUD in the press the last two weeks, is lifting. Inflation is rising steeply now. Bitcoin is poised to shoot up and make it’s presence felt again. It is in the air. In the below chart, we can see a reversal from the dump. Volume is increasing along with the price action. There is resistance ahead as Bitcoin climbs, but it is poised to do that. See the chart:
We will all know when this much, much, anticipated breakout has occured. Usually it is in one big green candle. Waiting for this breakout can be agonizing, but stay patient and buy at THESE prices. Otherwise, you’ll be paying three times as much when the next leg up hits.
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