In the recent months, more and more public companies and big corporations started to accumulate Bitcoin as a treasury reserve. Their average Bitcoin entry price is above $ 10,000.
We also see companies like Pay Pal and DBS Bank venture into crypto space, offering digital exchanges and wallet services.
Implication: Bitcoin Price Stabilized and Grow Progressively
In the crypto world, there are two groups of people - Believer and Speculator.
Believer are people who will hold Bitcoin forever - long term oriented
Speculator are people who trade Bitcoin - short term oriented
When Bitcoin was launched, there were more Speculator than Believer. Having more Speculator in the Bitcoin market means prices are highly volatile.
But as time pass, Speculator were flushed out and more Believer enters the Bitcoin market. When that happens, price stabilized and move up progressively.
Future of Bitcoin Price
Let's compare Bitcoin to Gold as both have been perceived as store of value and absolute scarcity.
The main risk of Gold is that new source of gold is discovered which cause the price to plummet.
The main risk of Bitcoin is 51% attack where single party owns more than 50% of Bitcoin mining hash rate and make a detrimental change to the Bitcoin protocol.
But the big whales who own Bitcoin are people who believe in Bitcoin and will hold forever hence extremely less tendency for them to do something that is harmful to the Bitcoin value (because they own most of it), which makes Bitcoin certain to be absolute scarcity.
While Gold on the other hand doesn't actually possess absolute scarcity, because people will tend to keep find new source of gold (ie. asteroid mining), and when they find a new source of gold, then the gold community will be affected.
Today Bitcoin market cap is at $300 billion, comparing to Gold market cap is at $9 trillion today, hence it is easy for Bitcoin price to 3X and reach $1 trillion market cap.
Where to Store Your Bitcoin
After getting your first Bitcoin, you can choose to store your Bitcoin in:
Crypto exchanges - ie. Binance , Remitano.
Crypto wallet - ie. LEDGER Nano, Exodus
Torque Superwallet
The advantage of storing Bitcoin in Torque Superwallet is your number of Bitcoin will increase due to arbitrage trading rewards.
[Read this article if you want to understand what is Torque, what they do and our due diligence --> Torque Superwallet : My Testimonial (1 Year+) ]
Cross Post from Read Cash
