Over the last several years there was one idea in Bitcoin that took over and became the eventual end game for Bitcoin. The idea is that Bitcoin’s path will go from “slowly, to suddenly.” We call this hyperbitcoinization, and depending on your Bitcoin portfolio position. It could either change your life forever making all of your dreams come true, or it could destroy it.
What you do from here on out will determine if your Bitcoin story has a happy ending.
Prominent figures in the Bitcoin space have made big headlines with some of their Bitcoin price predictions over the last few years. Last year Balaji Srinivasan shocked everyone when he made a public bet declaring that Bitcoin would reach a price of $1 million within the next 90 days. The price never came anywhere close to that amount and he ended up losing the bet. However, Balaji stated that the main purpose of the public bet was to help prepare people for what is about to come. That he didn’t fully believe that Bitcoin would hit $1 million during that timeframe, but it would sooner than later. And people need to be ready for it.
In 2024 another Bitcoin bull made headlines for making a similar prediction. Leading up to the Bitcoin ETF approval, Samson Mow stated that Bitcoin would likely reach $1 million a lot sooner than most believe and that the ETF would be a big reason for that happening.
This way of thinking is becoming more widespread. While it may not happen today, tomorrow, next month, or even in a year. They argue that each day Bitcoin survives and blocks are mined. It has become another day stronger and the likelihood of that happening continues to become higher.
For a moment let’s imagine that Balaji and Mow are correct that Bitcoin will reach a price of $1 million rapidly, resulting in hyperbitcoinization.
That would not only mean that countries like the US would be in trouble, but regular people would be in an even more dire situation. Think about the people that you know in your life. Your friends, family, and co-workers. How many of them are deeply invested in Bitcoin? The answer is likely very few. If dollars, yen, and euro would hyperinflate overnight, and cause Bitcoin to soar parabolically. Most people even wealthy people, would be in financial ruin.
But the important question is; Would you be ready if HyperBitcoinization actually happened? If Bitcoin took over?
The truth is that none of us are ready. But, we can do our best to prepare for it.
Buying
The first step to prepare yourself would be to buy Bitcoin. You should be making a Bitcoin purchase each paycheck you receive from work. Think of it as a normal expense that you have to pay similar to paying for rent or insurance. By dollar-cost-averaging, you will be surprised how quickly your position in Bitcoin can grow into something substantial.
Self-Custody
In a world where HyperBitcoinization has occurred, the most important thing you can do is to take self-custody of your coins. The crypto insolvencies that we saw during the summer of 2022 were a preview of how important this is. But as banks and companies are collapsing, as people are heading into financial ruin, this will compound by 100 times.
Banks and companies won’t be able to be trusted. The only person you can trust is yourself.
Secrecy
Most people don’t like to think about it, but if fiat does collapse and Bitcoin takes over. The world will transform into a dark place in the short term. People will be in financial ruin. They will be angry and confused about why this happened to them. They won’t understand why their thousands or millions of dollars were suddenly worth zero. They’ll then look at us, the people who benefitted greatly from their downfall. With our portfolios reaching new all-time highs daily. This will result in extreme jealousy and anger.
The truth is that this type of world might not be safe for people who have Bitcoin.
This is why so many prominent people in the cryptocurrency market choose to remain anonymous. In this situation, you wouldn’t want anyone you know to be aware that you have Bitcoin. Not your friends, family, or co-workers. The safest option would be to act like you were just like them. That you were suffering from financial ruin as well. This is why there have been talks about there eventually being a Bitcoin citadel. Separating those who have Bitcoin from those who don’t. Not because they believe they are better, but merely for their safety.
While this is just a hypothetical scenario. There is no denying that with everything that has happened in the world in the last few years, this scenario seems to be a lot more likely than it was just a few years ago. The question isn’t if you think hyperbitcoinization will happen or not. But would you be ready for it if it did? Would you be able to avoid complete financial ruin? That is what Bitcoiners are attempting to do.
How about you? Are you prepared for HyperBitcoinization?
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As always, thank you for reading!