According to a new prediction, Bitcoin will suck in "all prosperity gains" in the future and leave people who have no exposure behind.On July 8, investor Luke Broyles gave a bold vision of Bitcoin becoming "society's base money" in a Twitter discussion.Investor advises would-be Bitcoin buyers to "get off zero"What began as a remark on …
According to a new prediction, Bitcoin will suck in “all prosperity gains” in the future and leave people who have no exposure behind.
On July 8, investor Luke Broyles gave a bold vision of Bitcoin becoming “society’s base money” in a Twitter discussion.
Investor advises would-be Bitcoin buyers to “get off zero”
What began as a remark on how artificial intelligence (AI) is accepting BTC is quickly evolving into a dramatic presentation of how it should become the world’s go-to currency.
According to Broyles, Bitcoin’s key feature — a fixed, unchangeable supply — distinguishes it as a future-proof asset.
“Every innovation (including artificial intelligence) will move as quickly as possible to competitively force prices down.” Every country will print money as soon as possible in order to drive up prices and keep credit markets open. “Both of these forces will accelerate” he wrote.
Meanwhile, BTC’s emission will remain constant, and as a result, even a minor exposure is better than none at all.
“We share less with the future than we do with the past… Bitcoin is already being traded for hundreds of millions of political currency units in a number of countries. But the REAL important problem is that all future wealth gains will flow into society’s basic money- BTC,” Broyles concluded.
His viewpoint is consistent with that of Arthur Hayes, former CEO of the crypto derivatives market BitMEX.
According to Hayes he believes that AI would naturally chose BTC as its financial lifeblood due to its unique properties in comparison to other commodities like as gold.
As a result, AI alone might increase the price of Bitcoin to $750,000 per token.
Bitcoin supply dominance reaches a “inflection point”
Meanwhile, the scramble to secure the remaining BTC supply may have already begun.
Broyles argued that Bitcoin liquidity peaked at the March 2020 cross-market crisis and will never return.
Meanwhile, when the world’s largest asset manager, BlackRock, announced the launch of a Bitcoin spot-based exchange-traded fund (ETF), U.S. BTC activity skyrocketed.
According to the on-chain analytics startup Glassnode, the United States looks to be reassessing its own vulnerability.
“Following the Blackrock Bitcoin ETF request announcement on June 15th, the share of Bitcoin supply held/traded by US entities has experienced a notable uptick, marking a potential inflection point in supply dominance if the trend is sustained,” it said on July 8.
The disparities in regional BTC supply ownership change were depicted in an accompanying graphic.
Keys notes:
Risk Disclaimer
Please note that this articles does not offer any instructions or suggestions regarding investment decisions. Therefore, it is essential that you carefully evaluate your financial situation and conduct thorough analysis, or seek advice from a qualified professional, before making any investment decisions.
