Welcome back millionaire investors, here we talk about BTC and some potential that I'm seeing. I believe that Bitcoin will play a large role in my financial independence.
Bitcoin and the future
Bitcoin is gaining acceptance and mainstream institutions are committing billions of dollars to the technology. Companies like Square, Fidelity, and Grayscale have also committed significant funds to BTC, which should help the currency appreciates over time. Currently, 4% of the total supply of BTC is held by publicly traded companies in the US. The presence of these powerful players will help the cryptocurrency to gain more popularity, and the smaller supply will help to support the rise of BTC prices.
Millennials and Crypto
One big variable to remember is that Millennials are strongly investing into crypto. The average baby boomer is worth $1.2 million, how much of that money is going to be converted into crypto when it's passed down to the millennial?
Bitcoin has seen a colossal increase in price in recent weeks, fueling continued adoption of the currency. Despite the recent COVID-19 pandemic, many investors continue to turn to Bitcoin as a reliable asset in the financial market. Because of its increased scarcity, its controlled supply and high liquidity, Bitcoin is an asset investors can rely on to hedge against risks in the financial markets. As more investors decide to "HODL" their bitcoins, the supply will continue to drop.
A panel of 33 analysts at Finder predicted that Bitcoin's price would reach $192,800 by 2025. The price prediction for the crypto is quite interesting - it's almost as strong as gold's was in the 1970s. The future for Bitcoin is indeed bright for its users! In reality nobody can predict where Bitcoin will be, but one thing is for sure. Crypto is part of our future.