Insurer MassMutual scoops up $100 million worth of Bitcoin, and billionaire Mike Novogratz noted it as the most important news in crypto this year – It is kind of ironic; an insurance company valuing Bitcoin as an insurance policy against the dollar. For every company who is publicly stating their purchase of Bitcoin, there’s no doubt at least 10 others either buying it or preparing to behind the scenes. The stigma around Bitcoin is quickly shifting; it’s looking less and less like the risky play. Large companies are starting to pay attention to Bitcoin; money tends to follow money. Many more people are questioning the legacy system, they are losing faith in Fiat currencies.
In my opinion, Bitcoin’s network effect will catch on like email, the qwerty keyboard, Facebook – to name a few. It’s a social movement that could quickly scale into society. The larger the debt bubble grows, the more governments will drain citizen wealth to service it (more taxes & more hidden money printing). The longer this goes on, the more injustice & impoverishment will be felt. The higher the Bitcoin price goes, the more people will question the money. The smart millennials will advise his/her entire family to buy Bitcoin. Things could move extremely quickly.
Bitcoin is socially scalable & it is the best insurance policy for the individual. How much longer before the masses realize the theft at hand? How long before they exit their currency as they become fed up with their government? Bitcoin is a peaceful protest that cannot be stopped. The privacy tech on Bitcoin will only get easier & easier to use. How much longer before we see widespread tax rebellion? In the Sovereign Individual (written mid 90’s), they predicted by 2025, the information age will end the current political system; government revenues will dry up. I think Bitcoin will be the tool that converts people from government assets to becoming their customers. They will have to become more competitive & truthful if they want funding for the services they provide. In fact, I think it’s extremely obvious at this point. Bitcoin’s tech is just too robust. There’s too many incentives to join – even at government level.
When Bitcoin firmly breaks through it’s last All Time High, many are expecting (including myself) the party to really start. Bitcoin crossing ATH is market confidence that will ignite global FOMO. The supply is quickly being gobbled up by the corporates. The dips are getting smaller, every sell off is being eating up by a bigger whale. I hope you’re stacking those sats daily.
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