Last night the entire crypto marketplace hit a historic level that just a year or two ago, many thought was theoretically impossible or never going to happen, we passed 100 billion market cap total. To many, including me I must admit, I thought the day might never come and it was just a pipe dream. Being in bitcoin and other cryptocurrencies for 2012, it’s hard to imagine my life without them now. That was only 5ish years ago, but my life has completely changed because of it.
I believe many of you out there are just like me in this case, it feels like we are changing the world from behind our keyboards and moving into the future of finance. Some of you who have been here since before me probably remember the laughing and people saying cryptocurrency was stupid and on some level today you still see that, but a very small majority. For the most part no one is laughing anymore, they are taking us very seriously.
Even my friends who were the biggest opponents of cryptocurrency, people who I said “hey this is interesting, throw maybe a few hundred bucks in it” when bitcoin was $30-$60 and they said they would rather buy a ps3, are now asking me for advice on how to buy bitcoin. My best friend , who had to listen to me endlessly talk about bitcoin for years and desperately wanted me to shut up about it, now reads the bitcoin news as frequently as I do.
The 100 billion dollar market cap is just a number, but I said to myself a long time ago that if we broke 100 billion in marketcap, it would legitimize our industry to a point where I don’t see it ever going away. We might have pull backs and bubbles still, but for a long time cryptocurrency was something that many thought was going to disappear overnight. That is no longer the case. This is the gold rush 2.0, the digital one and more people will continue to flow in, not less.
For an industry that is 100 billion dollars large, there are still many problems that need to be addressed and still many ways that we can become more user friendly to bring people in. This is going to inevitably happen with time and eventually the next marketcap milestone will be reached. I not only see rich and powerful people holding bitcoin now, but there is a real possibility in the next few years we will see the first governments (albeit most likely small countries), buy up some of the supply.
Were the real deal now and everything we do is being studied closely and monitored. What happens now will be in the history books and I don’t see us going away in the long term. In 20 years they will talk about us as pioneers and visionaries for the future. The world is watching now and they can no longer deny the impact we are having.