First Mover: Why Bitcoin Isn’t a Replacement for Gold Just Yet - Traditionally, in times of economic-uncertainty (an abundance of government money creation & massive deficits), acquiring scarce assets is a popular financial strategy for citizens wanting to store their wealth - actually hold their savings they've worked hard for. Typically speaking, gold has always been the #1 go-to-vehicle for such an occasion. To me, it's becoming very clear this is rapidly changing to Bitcoin.
Since the COVID-hysteria-crash in March this year, Bitcoin has seen prices 400% higher. Yes, it's a much smaller market capitalization than gold, but it's been receiving a lot more attention. If you exercise good private key security with full self-custody, you could argue it's a safer bet than gold for a multitude of reasons. Every year it survives, only further cements it's resilience to the world.
If you think that a global economic collapse is some kind of conspiracy theory, governments are now telling people directly that the economy will fail & that a reset is needed. If you don't have any scarce assets (particularly BTC) & you have a lot of money in your bank; you should definitely rethink this. No politician will tell you to do this - yet, it's simple math. Scarce assets like Bitcoin, are outside the control of the financial system. Your freedom & livelihood is at stake - now is the time to pay attention.
At one point, I became extremely close to buying gold, but I stopped myself. I already had a decent understanding of why Bitcoin was far superior; my reasoning completely negated any desire to acquire it. In the most practical sense, let's imagine your currency has collapsed & you need to pay for rent/food using gold. It just seems like an unnecessarily arduous task; first you have to find a buyer, negotiate a trade, pay a free, physically move the gold, avoid it being thieved/confiscated...there's far too many complexities for my liking.
With Bitcoin, you can easily sell anytime of the time of day, near instantly & at a very low cost. Being digitally divisible with global demand, It is extremely liquid. It will easily become the most liquid asset on Earth one day. As well as this, more & more merchants are accepting it. It's only a matter of time before Bitcoin completely bypasses fiat (dollars, euro, yen) - the tech to enable this is already here. Bitcoin's UI, code, & infrastructure improves by the day, it's like a digital-living-organism. It grows stronger by the day.
At this point, I don't think you're going to get a better/more obvious opportunity than Bitcoin (with insane ROI potential), for at least another couple hundred years or perhaps thousands. So many people were kicking themselves when they missed the dot com boom. It's going to be similar with Bitcoin - think much bigger though. Bitcoin can grow 1000x and still have room to grow. It is a black-hole to the financial system.
Subscribe to future posts & claim 1000 FREE sats - www.bitcoin2009.com
If you'd like to donate:
Bitcoin: bc1qse0rhdkcutnejc7kacpjhkhepcgkmh3lrkz8tg
Lightning: https://tippin.me
