Maybe you’ve been in the space for 10 years. Maybe you joined last year maybe you’re freaking out.
Why am I still buying bitcoin?
A bit about me, I’m 38, American, and half my net worth is in crypto and the other half is in real estate. Of my crypto, 60% is bitcoin. It will never go below that number either. 50% of additional savings go to bitcoin.
In 2009 houses plunged. And when the pain was too much, someone gave up and someone bought. And then they plunged further, and in 2010 that same buyer who bought… bought another house.
The United States government has no way to pay off his debt. We run on deficit spending.
The DXY is 104, The stock market is very shaky, we’re facing a potential world wide recession, and Bitcoin is 29K. Five years ago as a bitcoin approached 10 K people were maniacal and got closer to 15 K people thought they were the new kings. The good investments are things that you don’t touch for five years. And the best Ones are those that you don’t touch for 10 years.
Ask yourself this direct question: do you see the United States and the world having more or less debt due to demographics and technology in 10 years? In a world soaked in debt, how can interest rates actually go up? What has the trend been…Can the trends actually be reversed?
Unlike real estate, which has a slow growing percentage of potential buyers a.k.a. population growth, bitcoin has an exponential group of adopters.
When the next stimulus comes, as it has to come because of a slowing economy, I wouldn’t be surprised to see bitcoin well over 200k. And I wouldn’t be surprised for the same people who never bought houses in the last 10 years to continue to say bubble.