Anders Kargaard: Talking Bitcoin - It's never too late

  • Monday, 31 August 2020 08:16
Powered by Restream https://restream.io/ People often say it is too late, to buy Bitcoin "because it's already above $10,000" or use other arguments. It's called unit bias. Just because something is worth $1 and a cryptocurrency, does not mean it will also grow into Bitcoins value. Often altcoins have much larger circulating supplies. Always look at the market cap of an asset and not the price of the individual unit. If there only was 100 Amazon stocks, they would be very cheap if they were $10,000, while at the existing supply you would say that it was expensive. Yet with a market cap of $216 billion Bitcoin is peanuts in both money and store of value terms. Yet the best we have ever seen. I see this price as the price for proving a superior money that nations or anyone else can stop. It's a small price to pay for a solid 11 year proof of concept. Bitcoin is targeting: Currency market (medium of exchange) of $100 trillion + Store of value as value has escaped from diluting fiat currency into mainly stocks and real estate. $300 trillion as a rough target. You can argue that Bitcoin has a 2000X potential from here aiming at a total $400 trillion market cap, which means Bitcoin at $12,000 is not too late. On the contrary it's really targeting a market that would put it at $20 million per Bitcoin (in value as the price will be infinity). https://www.etoro.com/people/anders_ https://twitter.com/Anders_ Dollar cost average into Bitcoin on my favorite US platform for the purpose: https://www.swanbitcoin.com/anders/ Recommended reading on the Stock To Flow model: https://www.planbtc.com DISCLAIMER: None of what is said is financial advice. This is only meant to entertain and educate. It’s VERY important that you do your own research on all topics!

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