What Happens When Bitcoin Reaches $1,000,000.00? I will tell you what will happen. World Governments will start buying up the global supply of Bitcoin. Laws will be passed to limit how much BTC a person will be allowed to own. Governments will initiate a special capital gains tax on all owners of BTC. Governments will not allow you to gain such wealth freely without their interference.
Government officials will be extremely jealous of your new gained wealth. Only they and the white shoe boy club are allowed to become rich. Governments will portray BTC millionaires and billionaires as enemies of society. They will paint crypto owners as the bad guys. It will be BTC owners as to why the economy collapsed. It is BTC owners that ruined Fiat currencies. You get the picture.
Yes, you will not be rewarded or looked at as an investor genius for buying crypto currencies like BTC. You will not be given credit for suffering the crypto winters and gut wrenching 80% retracements. No, instead, you will be painted as the ones responsible for social stresses and economic depression. Government will promise the population ( who missed out on crypto investing) that they will confiscate your wealth and give it to them. After all, they have the guns, courts and prisons to do so. People will cheer the socialist proposals to take your BTC and give it to the people.
Yep, hate to be the bearer of bad news but this is human nature and governments work. Stay safe and smart with your crypto assets. Good luck, you will need it when BTC hits $1 Million dollars and more.
image from: zerohedge.com