Bitcoin is Gold 2.0. It has advantages in convenience, storage, transportability, and divisibility.
You are also getting in before the millionaires start to allocate part of their portfolio.
There are around 40 million millionaires. The number of bitcoins will never exceed 21 million. They can’t all own one.
Today around 17 million of the 21 million bitcoins are already mined. The remaining 4 million will be mined over the next 50 years.
Bitcoin ownership is concentrated in the hands of a small elite. There are only 750’000 bitcoin addresses with more than one bitcoin. Most of them are early adopter computer geeks. Very few of them are traditional millionaires.
If bitcoin gets adopted as an asset by the millionaires, then there would be a lot of demand and the price would have to rise. Most millionaires own some gold in their portfolio. Almost none have any bitcoin.
It’s early days. Bitcoin is in the early adopter phase. People are starting to study it.
Compare the adoption rate with email. Ten years after email became commercially available (Lotus Notes was the first commercial email system), it had 10 million users but most of the world still didn’t know what it was. A decade later, almost half the planet held an email address, 200 times as many users.
I need a time machine to go back in time so I could get some bitcoin cheap. Oh wait I have steem, wake me when steem is $7000
Feeling bullish Clive? :)
If I was a millionaire I would certainly want to own one of these Bitcoins you talk about, so many of them are asleep right now!
It definitely inspires confidence.
Thank God I'm an early adopter of bitcoin but I still don't have up to 1 bitcoin yet. Need to get some more bitcoins