11/12 ANDY HOFFMAN (CryptoGoldCentral.com): The “Boring” World of Bitcoin Ubiquity
Last month, I discussed the new era of “Bitcoin Ubiquity” – which may be “boring” price-wise, but unquestionably, incorporates “acceptance” as a Mainstream financial asset.
No more than 1% of mainstream investors own cryptocurrency, but they at least acknowledge it’s here to stay. To wit, I believe that if you asked Peter Schiff about Bitcoin’s future, he’d still be bearish, but would at least admit it’s not “going to zero.” I’m sure he still believes altcoins will – and in many cases, he’ll be right. However, altcoins have always, rightfully so, been considered highly speculative…as opposed to Bitcoin – which as recently as a year ago was, too; but now, is an accepted – albeit, grudgingly so – part of the global financial landscape.
Clearly, holding above the “Hoffman Line” for 13 months – i.e., a $100 billion market cap; has convinced those paying attention that Bitcoin is here to stay. And the longer it does, the more imminent the next crypto bull phase becomes – when BTC prices exceed last year’s highs…and likely, many altcoins, too. Perhaps, SEC approval of Bakkt physical Bitcoin futures – which could occur any day; or the SolidX/Van Eck Bitcoin ETF – which the SEC plans on deciding about by December 29th; will prove the catalyst. Or perhaps, the myriad other reasons why Bitcoin WILL ultimately dominate the monetary world – some of which, are yet to have revealed themselves.
Those, like myself, who bought in before the 2017 price explosion, are comfortably biding their time – sitting on large gains, and thrilled to see stability at a price that barely a year ago, was considered “pie in the sky.” However, the vast majority of crypto investors entered during the post SegWit price explosion – and thus, are sitting on tremendous losses; particularly those heavily weighted in altcoins, who – rightfully so – fear for their very viability.
Thus, a cryptocurrency environment dominated by apathy, and gloom (albeit, one with decidedly less fear) – where not only most investors, but “gurus” have gone silent. I have clearly not – having STILL not missed a day of publishing since launching CGC 13 months ago…and considering my prior time with Miles Franklin, scarcely a few days in the past decade.
So, for those that don’t like my message – of Bitcoin optimism; and g-d forbid, enthusiasm about BRhodium, the FREE airdrop that in my view, could single-handedly transform the altcoin market; I’m sorry. However, I call it as I see it – and right now, I see an historic buying opportunity in Bitcoin…and an even more historic one in the pre-launch BRhodium OTC market – which, if you have any questions about, feel free to DM or email me about.
In the big picture, the fact that just ten years from inception, Bitcoin is a $100+ billion asset amidst a global financial landscape wrought with weakness and fear is an incredible accomplishment. And watching debt explode, currencies collapse, and the other symptoms of decades of monetary destruction coming to fruition, I’m happy to wait for what is an increasingly inevitable Bitcoin explosion – which subsequently, will be followed by a new era of Bitcoin ubiquity, as a MAJOR global asset class, worth well above $1 TRILLION!
The longer this accumulation base gets, the more bullish I become, feels like MSFT 2000-2013