“I believe Bitcoin is one hell of an invention”
Wrote Ray Dalio last month in his open letter. Ray also expressed numerous times that he is not a crypto expert. And by reading the letter you get the feeling Ray is like any other crypto enthusiast in his early days. Dismissing Bitcoin at first. But Bitcoin becomes too big to ignore. And too interesting and compelling. Then the interest evolves into altcoins. And Ray is at the stage of thinking when you think the flippening will happen. The hypothetical event when some cryptocurrency passes Bitcoin by market cap. Which is possible like anything. Simply very unlikely. Read Ray Dalio’s full thoughts on Bitcoin here.
And today CoinDesk announced that Ray Dalio will be a Keynote speaker for Consensus 2021. How very convenient.
The fear of missing out. Not only from Bitcoin gains, but also for their own future. The fact is that the USD is devalued 15% per year. Asset inflation is huge when the money printer goes brr. And when you have a corporate balance sheet you spend that capital on assets. Not bread or cheese. You buy back shares or buy a business. More and more companies will ditch the Dollar and buy something that appreciates. And use the huge gains to buy even more assets. Or build factories and streamline production lines.
In 2 months
Tesla announced a $1.5 billion investment into Bitcoin. Or 7% from all the cash of the company. Visa announced cryptocurrency integration. Mastercard is allowing merchants to use cryptocurrency this year. Keep in mind Mastercard has 1 billion credit card customers. Paypal will allow 300 million customers access to cryptocurrency. Also, Twitter CFO Ned Segal revealed they are considering buying Bitcoin. The good news for Bitcoin keeps coming.
Smart investors get Bitcoin.
Ray Dalio is a smart investor. It would not be smart to not think why did the richest man in the world buy Bitcoin. Of course, Ray is thinking that. Not accepting Bitcoin will be the same as not accepting USD is today. A new global reserve currency is on the rise. And without a CEO, marketing budget or lawers Bitcoin is defeating central banks. The smart investors in Bridgewater will buy Bitcoin. Every company will have no other choice.
#Bitcoin after the Halving
Feb. 10, 2021
274 days after the 3rd halving.#BTC at $45,068.
Catching up with the average growth trajectory would be nice.
But even the “slow” trajectory of 2nd halving puts us above $100k before the end of the year.
See for yourself 👇 pic.twitter.com/kmrrlg8N1T
— ecoinometrics (@ecoinometrics) February 10, 2021
Bitcoin has broken resistance. Also, it is on track with previous halving events. And Bitcoin is now ready for the next step up. Combine that will very positive news, institutional investments, and very positive public sentiment, it doesn’t take a genius to see what is coming for Bitcoin.
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