Some people are in shock, but I'm not surprised. As we discussed earlier, this is just supply and demand in practice.
People can shout Tulip bubble all they want, or they can be worried about what seems like a much too fast growth. But the fact is that the growth we're seeing right now is not particularly fast. It's just increasing demand for something that that is very very very limited in supply. It is not like gold or silver which almost everyone on this planet owns a fraction of. Everyone has a gold ring or a silver necklace. The mass adoption has happend throughout the centuries. But in the ultra modern age we're in now, with crypto currencies - this adaption will only take years or even months.
As more people see other people making huge amounts of money on Bitcoin (and other cryptos - but mainly Bitcoin right now, as Bitcoin is where everyone starts) they want in too. They join forums, they speak to friends and they learn the basics. And they also realize they can buy 0,0001 Bitcoin and not a whole one. So the price of ONE Bitcoin is totally irrelevant.
Some people seems to stare themselves blind of the price of ONE Bitcoin.
And they cannot even fantasize that one Bitcoin can be worth 100,000 or 1 million. Then instead what they do is call it a Tulip Bubble. Which is literally insane.
Tulips can be grown into eternity. So can a paper bill known as fiat currency. As long as you've got electricity you can print as many as you want.
Bitcoin? 21 million hard cap - and guess what? The inflationary period is soon coming to an end. This means, that as each day passes, I am more and more inclined to actually - based on reason and facts - believe that Bitcoin, ladies and gentlemen will in fact reach those high numbers - and that Mcafee doesn't have to eat his own testicles on national TV.
But even if it doesn't go to $100,000 or 1 mill - look back at where we came from. I bought Bitcoin at $1000, and I was skeptical I would ever make anything. I did not have enough knowledge then - except that I figured there was something to this "blockchain technology". As the price went up, I learned more and more - which is the case with all of you I suspect, and will be the case with everyone investing in Bitcoin. Now, about a year later, my investment in Bitcoin has definitely changed my life. I own dozens of cryptos, and Bitcoin has given me a 15x return.
And I don't believe for one second that this is over. As we argued the other day, less than 0,1% still own Bitcoin. And the average wallet contains almost nothing.
Right now, with this momentum - it will fly past the gold market. People couldn't believe it when it flew past gold in the price of dollar. But people are not very smart. Of course it flew past gold in dollar value. Sure, one ounce of gold is just $1300USD, but the gold MARKET, the mcap of gold is still 30-40x larger than Bitcoin at 7$ trillion. Bitcoin is now at 200 billion.
Those are facts. Remember those facts as Bitcoin keeps on raising. There is no reason Bitcoin will not become bigger than gold. It's got much more utility and it is modern and brilliant. And there is no stopping it.
