Mizuho Bank Survey Says $24 Billion in US Stimulus Checks May Be Used to Buy Bitcoin - Between EU & US stimulus alone, there's roughly $4 trillion ready to be airdropped to the public. This money is fresh hot of the printing press, adding to the supply. Economics 101 says you increase the supply, you decease the demand; in other words, you devalue/debase the currency. It's basic math that inflation will rear it's ugly head. In fact, it is already. You only have to study the cost of produce/materials over the last year. When COVID hit, they enforced lock downs & business closures; they started creating a lot more money out of thin air as a response. They both had to & wanted to. They are clearly using COVID as an excuse to print money. Banks receiving bailouts due to COVID is the most obvious one to me. They were all insolvent prior to COVID. These stimulus checks are sold as free/aid money. The majority of the checks aren't going to where they actually need to go - the people. Once you have a fair understanding how the money works & you realize the scam, you begin to question everything else. Bitcoin's massive rise over the last year is proof there's a huge issue. When it comes to Bitcoin, everyone knows the rules of the network. When you purchase your sats, you acquire a fixed percentage of the network. No government can print this away from you. Bitcoin is designed to only gain value, not lose it. Once you take control of your keys & transact on your own node - you become your own sovereignty. You establish a digital empire & become the king (or queen).
Whenever Bitcoin sees a pullback, many panic. India/Gemini FUD (fear, uncertainty, doubt) is such a non-event. If your government bans Bitcoin, it just proves how corrupt they are. Doesn't matter though, people will just route around them. The Gemini FUD - whale funds moved within the platform, not to the platform. Either way, neither news matters - Bitcoin does not care. If you're crazy enough to short Bitcoin ever, you will likely be punished eventually. When you put this fear into perspective & you have a decent understanding of what's actually happening, it's laughable. In fact, most of the fear in Bitcoin's history has been a non-event. It's never been a better time to invest in Bitcoin on a risk basis. Now that Billionaires/Institutional money are entering & we're in trillion dollar territory, suddenly it looks a lot more attractive to big money. If you look how gold reacted to institutional money, you see why Bitcoin at 50k or $1 Trillion market valuation is still so early (there's 1000-2000x more money in the world to swallow). On a fundamental level, Bitcoin continues to get stronger by the day. In my opinion, the only increase in confidence for me would be, government is less likely to attack Bitcoin because they're going to have to deal with push back from the big boys. Suddenly the government has to be careful calling Bitcoin a currency for criminals when Tesla has a percentage of their treasury holdings in BTC. Bitcoin is the most ethical form of money - they have to be extremely careful how they proceed from here or face the public. Political tension is through the roof; they're printing a bunch of money to band-aid the economy & enrich the 1% - those who see it, feel the injustice in a big way. Those who see it, are stacking sats (Bitcoin) like crazy. What's it going to take for the masses to jump to a better future? You'd have to be crazy to stay in a currency trending to zero. This is not healthy for anyone's finances.
Bitcoin will likely continue to rise in 2021; you will see a lot of mania & stupidity as money flows in. My advise is to stick to Bitcoin, those precious sats are running out. Everyone is talking digtial scarcity in NFT's - this is ridiculous. Bitcoin is a true finite scarce asset. A lot of people are creating money out of thin air & selling garbage. Alts will probably pump a lot, because there's a lot of immature money entering this space. At some point it will all collapse like it did beginning of 2018. Yes a few alts may do well in the long run. The easiest bet for the base layer hard global reserve asset is easily Bitcoin. I highly encourage the reading of this article. Network effects are incredible powerful - most of these alts will be worthless in the future. Stay safe out there, things are about to get hectic. Think dot com bubble but imagine a technology disrupting the entire financial system. I would not be surprised if Bitcoin sees $10-20T peak valuation this year. Bitcoin has always been a boom & bust style market - however I doubt we'll see a huge bust this time. As Max Keiser says " Bitcoin has reached escape velocity". There's no coming back from here. They can't & won't stop printing money until all fiat currencies collapse. The ship will sink. Hope you're stacking sats in your orange lifeboat. Converting $10, even $1 per week will change your life one day in my opinion. It's all about the accumulation & long hodl. Printing money is their only tool to keep the scam running; it merely exacerbates the issue & will only continue to impoverish the masses. To end on a positive note: even if 1% of this stimmy goes into Bitcoin, it's going to destroy all models.
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