Here’s the Bitcoin bombshell: We have moved from a paper-based analog world to a fully digital world.
The Bitcoin bombshell applies to the entire crypto market and soon will apply to every business, every individual. It is an inevitable and complete change of financial systems to digital and it’s happening right now. Many people remain extremely skeptical about Bitcoin, mainly because they don’t understand how it’s actually a software solution to today’s fiat money problems.
Our US government and governments around the world just keep destroying fiat currencies by printing and borrowing unsustainable sums of money. Bitcoin takes advantage of and remedies both of these destructive trends. This is another factor forcing the digital transformation taking place today.
While millions of Americans have been left behind so far, tens of millions more could be left behind in the coming decade if they don’t take the critical steps now to learn about and obtain digital assets like cryptocurrencies.
For some small businesses, the transition to digital has been devastating. In 2019 alone, an estimated 12,000 retail stores closed down. And in 2020, that number more than doubled, to 25,000 closures. Of course, the coronavirus pandemic has dramatically accelerated this trend, with so many well-known retail businesses filing for bankruptcy.
Meanwhile, the money that’s being made by those who have capitalized on this digital trend is remarkable. New technology changes absolutely everything about the way money, banking, commerce, and property rights are managed. New millionaires are being made at record pace.
Money is flooding in to Bitcoin and Blockchain projects. Top hedge fund managers Bill Miller, Paul Tudor Jones, and Stanley Druckenmiller have added Bitcoin to their portfolios. Billionaires Mark Cuban, Elon Musk, and Jack Dorsey are pouring investment dollars to it. Wall Street heavy hitters like Goldman Sachs are expanding their crypto interests.
A whole new layer of Wall Street investors are pouring billions into the crypto market: publicly traded companies. And as institutional demand for bitcoin continues to rise, the price of bitcoin and other cryptos will follow. Accept it, if you haven’t already.