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FIFTEEN REASONS WHY BITCOIN IS HERE TO STAY

The white-knuckle Bitcoin ride continues. Those of you sensible enough to have listened to the Penny Post back when we were recommending it at $30 need read no further. For the rest of the media victims who hang on state apologist Paul Krugman’s every word, you might want to stick around and get informed. We are upping our previous $100,000 per coin prediction to between $500,000 and $1 million based on the following:

 

1. Less than 2% of institutional investors actually own it. Hardly bubble territory.  

2. Most retail investors have barely heard of it not to mention owning it. The non-investor class is even more clueless.

3. Just about every major financial institution and large-scale retailer is recruiting BTC experts, even the ones publically deriding it. Bitcoin Svengali Wences Casare is now on the board of directors at Paypal. Expect some ‘surprise’ announcement shortly.

4. Futures contracts are available on the CME and every major exchange will adopt the technology over the coming months and years.

5. BTC is turning out to be a form of digital gold. As a type of money, most jurisdictions can’t impose VAT or capital gains tax on it, especially retroactively for early investors.

6. HODLing strategy will do for BTC what it did for Warren Buffet and what it has done for gold holders. Many weak hands and the get-rich-quick brigade, meanwhile, will get burned.

7. Amazon has just bought a ton of crypto domain names.

8. Borderless bitcoin is the new offshore.

9. 98% of world banks are technically insolvent on a mark-to-market basis and desperately need appreciating assets. The smart ones like Korea’s second largest one Shinhan are test-running BTC vaults and wallet platforms. As Bitcoin makes you your own bank, expect non-adopting banks to become obsolete.

10. The only ways to get out of a major crisis are either with a debt jubilee (currently contractually impossible) or going onto a hard asset gold or BTC standard, where the value of the debt is inflated away compared to real asset. Think German war debt or post U.S. Vietnam war inflation.

11. It’s been pronounced dead 200 times already. What can’t kill it has made it stronger. 

12. There’s no alternative. Central banks are incorrigible crooks. Every major market in the world is now completely rigged.

13. Cristine Lagarde says it’ll be massively disruptive. Translation: it’ll kill fiat currencies and the IMF is studying its adoption.

14. Bitcoin can’t be a bubble as it’s money and therefore a form of measurement. Neither can centimetres, hours or kilos be bubbles. The Tulipmaniac’s don’t get it. Besides, tulipmania only lasted six months - the BTC rally has been forging ahead for nearly a decade.

15. BTC looks like it’s going up in price. Really everything else is collapsing against it. Bitcoin, very soon will be the price.