Bitcoin to soar to $318,000 by 2021 as expert claims ‘New global economy emerging’ – Just this year alone, the US dollar has seen roughly 25% monetary expansion; In other words, the Federal Reserve (Central Bank of American) has performed numerous versions of money printing to momentarily patch an impending financial crash – they can never stop patching. Central banks all over the world are devaluing their currency to pay for their debt; an ever growing bubble of credit that can never be paid back. Bitcoin could double in price but as the money printer continues to run hot (In a digital sense), the Bitcoin dollar value could effectively be driven to infinity. Bitcoin has no top value, Fiat (dollars, euro, yen), has no bottom.
21m Bitcoin, Unlimited fiat. It’s simple, if you create an abundance of anything, you decrease it’s demand & thus it’s value – Economics 101. Bitcoin becomes more scarce over time; miner reward halving every 4 years, more hodlers & more loss of private keys due to death or negligence to secure it properly. There is also dust; small amounts of Bitcoin (sats), which continue to get left in wallets everyday, slowly eroding the supply. This dust isn’t valuable now, but in the future, it no doubt will be.
The general consensus, including myself, firmly believe a $300-400k USD valuation is more than feasible at the peak of this bull run. But what if currency devaluation gets out of control? Any valuation is possible; no one can predict the future. We can however, predict the inflation rate of Bitcoin & can always verify it’s true supply. The supply of Fiat can be pushed as high as governments/central banks see fit. They’re already pushing it to it’s limits. You can see the effects first-hand in society today – the wealth divide between the rich & the poor continues to widen. If you look at hyper-inflation events in the past; they happen very suddenly, almost overnight. These events can be extremely damaging to society & countries as a whole. There are some who believe we’ll never see this. Even if we don’t, the deflation in our jobs is coming for us regardless.
So inflation in the money & deflation in our work. We are getting burned at both ends of the candle. Technology/Internet i.e Artificial Intelligence, Zoom etc, are all destroying jobs. On the other hand, we are working more & getting less for our money because governments are devaluing our savings to zero. To me, the only logical way out of this situation is Bitcoin. Bitcoin thrives in an AI & Internet-based-world. Bitcoin is immune to currency devaluations from government. The more Bitcoin you accumulate now, the less you’ll be worried about your job getting eaten up by technology in the future. You may think your job is secure, but technology moves extremely fast & tends to prove the naysayers wrong.
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