PayPal Surprise Announcement Pushes Bitcoin Towards $13k - You can now officially buy, sell & hodl on your PayPal account. Personally I wouldn't recommend using PayPal to buy your Bitcoin, however this is a massive step in the right direction. PayPal has roughly 320 million users; this is a massive fiat-on-ramp into the Bitcoin/ crypto space. PayPal is one of the largest payment processors & now they're "legitimizing" Bitcoin to the world. As far as the mainstream is concerned, this is probably going to be one of the biggest headlines dropped in 2020. In my opinion, this is probably the fuel that will help get us back over the all-time-high of $20k USD.
When $20k is broken I'm betting (& many others) we see a parabolic move into the price range of $200-300k per Bitcoin, within a 12-18 month time frame. At 200k, Bitcoin will only have half the market cap of gold. Gold is a hedge to economic collapse. Scarce assets will thrive in the face of inflation. Bitcoin is true scarcity with a finite amount and has a lot more utility than gold. I'm betting most people under 35 will probably pick Bitcoin over gold for such an event. A hyper-inflationary event is coming, it's just a matter of how long governments and central banks can fake a "healthy" economy to the masses. In the mean time, inflation will be destroying your savings at a negatively compounded rate. Bitcoin, I choose you! It is not subject to inflation theft (21m hard cap) or taxes (If you just hodl).
As well as Bitcoin being a better gold; as we enter a cashless society more people will want to take back their privacy using the Bitcoin Lightning Network. I like to think of the Lightning Network as the cash layer to Bitcoin - It is fast, frictionless, private & the fees are unfairly cheap. I think Lightning will make PayPal/Visa redundant one day.
Read between the lines of where this is going, the PayPal CEO has been a Bitcoiner for a while now. No doubt he's been stacking hard during the bear market. Think about this, then think about it again; It's go time.
Michael Saylor, CEO of Micro-strategy is on fire lately. See video.
Bitcoin - Slowly, then all at once.
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