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Here is the deal.
Let’s be real, bitcoin is an excellent investment, although if you’re looking to make profits at a faster rate you have to look at other crypto. For personal bitcoin profit share you’re going to have to wait a long time, because the profit margin has surpassed, BTC market is already over a trillion dollars. If you’re going to buy bitcoin, hold on to it for 5 years minimum, the way market has been, bitcoin always recovers, and it will surpass $250,000, and even $500,000 per one bitcoin. People have called me crazy for saying this, but it will, bitcoin is here to stay and it will continue to grow. It’s a solid investment. For those wanting to make profits faster, and not wait many years for that to happen, then you absolutely must look at other cryptocurrencies. That is why Crypto Security Circle has been created.
There are just way too many crypto coins that are much more profitable than bitcoin and those who are investing in those particular cryptocurrencies are becoming wealthy; at astounding timeframes, months, even weeks. Many people are asking me what those crypto coins are. I will never tell them, I simply cannot. I can only share this insight with Crypto Security Circle members, it’s unjust to everyone who has paid for their Crypto Security Circle lifetime membership. Period. I hope you understand.
Let’s dive in.
I’ve read a couple Ray Dalio books back in the day, and he encompasses a superb mindset. Although now he may have some underlying motive to talk down bitcoin. Furthermore, he may be able to purchase it at a lower cost after releasing unidentifiable press about bitcoin. Market moguls tend to do that. Billionaire investor Ray Dalio, the cofounder of the world’s largest hedge fund, Bridgewater Associates told Yahoo Finance that bitcoin could become “outlawed” the way gold was in 1934. Wall Street of course picks all this up.
For those who may not be familiar with the story, President Franklin D. Roosevelt signed the Gold Reserve Act of 1934 that ended all private holding and use of gold as money. So that’s what Dalio is referring to.
Since Dalio’s conversation with the press, bitcoin is down 9%. And dropped 16% from its all-time high of $61,683 on March 13.
Now, Dalio’s comments caused bitcoin to pull back. But every time bitcoin begins another rally we see one of Wall Street’s elites climb out from under a rock to criticize it. Then the price drops.
Similarly this year when bitcoin dropped from $55,000 to $48,000 was when Treasury Secretary Janet Yellen said she feared bitcoin’s use was more for “illicit finance” than legitimate transactions.
Then again, bitcoin dropped from $49,000 to $47,000 when the Securities and Exchange Commission (SEC) chair nominee Gary Gensler said crypto (coins) were “really rife with fraud and scams.”
But this is the same guy who said bitcoin was “not effective” as a store of value or a medium of exchange in January 2020 when bitcoin was at $8,600. Then changing his dialogue less than a year later when he admitted bitcoin has established itself as a “gold-like asset alternative.”
We can’t be strangers to this type of market bias anymore.
Dalio’s comments come amid reports that India is considering a ban on crypto assets. But as hard as they may try, governments can’t shut down true cryptos like bitcoin.
Without getting too deep into the weeds, bitcoin’s strength stems from no individual person running the blockchain. It’s peer-to-peer, with no intermediary.
Each node (computer) in the network retains a copy of the blockchain ledger. And the bitcoin blockchain has 11,558 nodes across the world. So to kill bitcoin, a government would have to shut down every single node.
Remember, these nodes are in multitude of countries. That would take international efforts costing billions of dollars in resources and manpower to destroy bitcoin. And even if a single node survives, it can restart it all again.
China, with one of the more repressive governments in the world has tried to ban bitcoin. Yet trading still flourishes there. Russia, Vietnam, and Colombia have all tried and failed, too.
India will fail their ban too.
Similarly, there’s no capacity to kill bitcoin. Again, even China, with its firewall and extreme intervention in its society could not kill bitcoin.
Governments never liked crypto. And they still don’t. At this point, so what. Adaptation of digital assets continues to grow at a record pace.
Bitcoin prices will recover… and the doomsayers will look for something else to obsess over.
Meanwhile, our experience in the space tells us one thing about this pullback: It’s a buying opportunity.
Circling back to Dalio. Think about it, how is a guy who runs a $150 usd billion fund is ever going to be able to put on a sizable position of bitcoin? Hypothetically speaking, it makes sense for him to scare the market. Buy as much as he can, as cheap as he can, and for as long as he can.
That’s the wealth theft exploit many are familiar with on Wall Street use since the beginning of time.
It’s important to remember Wall Street and the people who inhabit it are consumed by self-serving greed.
Whatever the reason at play, here’s what never changes when investing in life-changing investments. You need these scary selloffs to bring fear back into the market. These cooling-off periods give bitcoin time to breathe before it takes off again.
It’s normal. The key here is to stay focused on the big picture. The value of the entire global gold market is $9.6 trillion. At nearly $1 trillion; if bitcoin reaches the size of the global gold market, we could easily see it go up nearly 12x from today’s values.
Another part of getting the big picture is focusing on new demand.
We now have a brand-new source of demand for bitcoin: as a corporate treasury asset. Corporations are sitting on trillions of dollars of capital. So even a small allocation to bitcoin can profoundly impact the crypto’s price.
As to whether bitcoin will get banned in America, that’s nonsense. Bitcoin has been deemed property. The IRS has given us a framework for it. The SEC has given us a framework for it, as well as the Commodity Futures Trading Commission (CFTC) and the Financial Crimes Enforcement Network (FinCen).
Crypto is becoming a core holding among all manner of old-line financial firms. Do you think arid firms like MassMutual, Visa, Mastercard, or Bank of New York Mellon would take the risk of holding an asset that could be outlawed? Absolutely not.
Companies like MicroStrategy and Tesla started to make this shift in a very public way as we’ve seen on the news.
Ignore the naysayers, crypto has reached escape velocity. It’s a legitimate asset class. And it’s here to stay.
I highly recommend that you get in on crypto investing insights with CSC | Crypto Security Circle to have your crypto be more profitable.