The rate at which the world is going is clearly indicating that many big investors are getting into BTC at the current price. Many people like Elon Musk are thinking about holding their assets in the form of BTC instead of USD. This has been the case for a long time. We are able to see many big investors entering BTC at the current price which is not a big surprise. When BTC hits 150k USD per coin, then we will know how valuable it is to purchase BTC at the current price.
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I was thinking that BTC is overpriced at 3000 USD. That is when I entered into the crypto world. I had no idea about cryptocurrency and I didn't even have any time to explore and understand what BTC is all about. But today if we again get BTC at 3000 USD, I'm sure there would be people who would even sell their Kidneys and purchase BTC with that money.
Transaction fees don't matter
There are some discussions around the transaction fees of Bitcoin. We all think that BTC transaction fees are very high and it is not very suitable for small transactions. If someone will have to send a few Satoshi to someone, they will have to end up paying a lot more transaction fee and which is sometimes even more than the value of the tokens they are sending.
But if we check it out, most of the transactions happening in BTC are usually bigger ones. People rarely move their BTC assets from wallet to wallet considering the transaction fees. That is the reason why most of the transactions happen in big value. In the future, it will be the case where people will not worry about spending 100$ in transaction fees if they are planning to move a huge value from one wallet to another wallet.
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There are also perspectives where people say that BTC transactions are meant for bigger transactions. Smaller ones don't matter anymore. The rate at which the price of BTC is going, the transaction fees can also get bigger which will clearly indicate that the transactions will gradually move towards bigger ones where 100$ in transaction fee will not even matter.
People who invested early would have not paid that much for the transaction fees. As the price of BTC is increasing, their portfolio value will also be increasing which will, in turn, make it easier to accommodate the transaction fees. People who bought BTC when the price was very low are now reaping in profits. It is quite obvious for many cryptocurrencies and not only for BTC. People invest in it when the price is low and HODL and when the price pumps and reaches a decent value people sell it and reap a good profit from it. This is something that usually happens.
What are your thoughts on BTC price? Are you okay with the transaction fees pumping like that?
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