|It is incredible to witness what happens in an unmanipulated and truly free market. The price is reflecting all of the tremendous infrastructure that is being built out within the Bitcoin community.
Major news has been developing, and major players are entering the Bitcoin space. Now, one of the “Big 4,” Ernst and Young, is accepting Bitcoin in Switzerland.
After months of development, the CME Group has officially launched its Bitcoin price index.
Even Trump picked a Republican Bitcoin proponent, Congressman Mick Mulvaney,to be his Office of Management and Budget Chief.
The infrastructure build-out for Bitcoin is just unstoppable.
On January 1st, 2011, Bitcoin was $0.30. If you bought $10,000 worth of Bitcoin on that day and held it until now, your investment would be worth $30 million.
Who would have thought in 2010, or even 2011, that Bitcoin would do what we are seeing it do?
Rarely do we actually get to experience true price discovery, but there is one currency that is benefiting from what the market truly thinks of it. And when it happens, it’s a beautiful thing.
Bitcoin ALMOST reached $1,000 this week and is currently oscillating in the $900 range.
Since I became familiar with Bitcoin, I’ve been 100% enamored by it. It’s a revolutionary mystery and a completely new frontier that the powers that be have zero control over.
When I first discussed it, it wasn’t received well at all. It turned many people off, and that was understandable. It was very foreign, and most people (including I) barely understood it.
I first heard about Bitcoin when it was at $10 a coin, and I then went on to profile it here at $13.Since then, we’ve seen it spike up to its all-time high of $1,216.73 on November 17, 2013. It then proceeded to crash down into the $200 range, falling like a knife.
We are on the verge of witnessing Bitcoin retake $1,000, with more fundamentals than ever.
We’ve seen Bitcoin go straight up in dollar value since early 2015, coincidentally just as the dollar was going through a major bullish trend, which hasn’t stopped. Bitcoin’s epic run in the face of a strong dollar only goes to show how powerful its uptrend has really been the last couple of years.
Governments around the world are in a state of change, and Bitcoin has certainly been a safe haven for wealth preservation around the world – especially in areas of great economic unrest, such as South America, Europe, and China. It is a hedge against inflation, as only 16 million bitcoins are in circulation, with only 21 million ever to be released.
Similar to physical gold and silver, Bitcoin is true, private money, and it gives people a true alternative to the banking system, with the ability to transact instantly worldwide 24 hours a day, 7 days a week.
The upside for Bitcoin could truly be unprecedented. It could truly blow your mind if this really takes off.
Consider Bitcoin vs. the Dow in 2016: