Bitcoin Adoption
How strong and transcendent is Bitcoin adoption in 2020? There are now over 100 million Bitcoin users globally. With Paypal, Square, Venmo, Visa, Mass Mutual, Micro Strategy, Fidelity, JP Morgan, and others adding Bitcoin to their Cash Reserves. Is it fair to say Bitcoin has a chance in 2021 or 2022, to eclipse 1 billion users? We know this bull run is just beginning. It would appear that as Bitcoin approaches 3.5 billion users in the next 5 – 7 years, adoption will platue. As adoption platues so does the price value. Neutral ATM sees this platue as something out in the future but is a long way away right now. Neutral ATM expects Bitcoin price to reach the 10X level of $180K to $220K by 2022. How many users will that be? We surely don’t believe it will be 3.5 billion. Which is also the number of cell phone users globally. When every cell phone user buys Bitcoin, it could easily be above $1 million per coin. Probably closer to 2026 or even 2030. The below chart shows Bitcoin as a function of usage:
Saturday Bitcoin hit $24K briefly but has drifted below that level the rest of the weekend. Here is that breakout:
Now Bitcoin is trading at $23,810 and has been consistent in the $23,500 to $24,000 range, since Saturday morning, when it hit $24,244. This somewhat proves, especially since there was a breakout on the weekend, that adoption trends are way up on an organic retail level. If the below chart were to trend on twitter for a sustained period, adoption would certainly gain momentum. $1 invested in Bitcoin 11.2 years ago returning $29,831,200! The same $1 invested in Gold at the same time, returns $1.82! Bitcoin adoption will be trending up and increasing as more and more people wake up to the fact, that the US Dollar is crashing and has been since 2008. This realization may take more years into the future to crystalize. All Bitcoiners, who are serious about Bitcoin already know this. USD are losing purchasing power daily. It is impossible to find high yielding investments for dollars other than risking an inevitable rug pull from the stock market. Many or most investors realize, manipulation by the Fed is why stocks are up at all in 2020. There is more risk there than in Bitcoin. Stocks have become predictable and disingenuine. Horrible financial performance, job losses, P&L down, worst pandemic in over 100 years, yet a stock can still be way up for a particular month. This is manipulation. It has been going on since 2008. It takes a real crash to become obvious. Now it is obvious. Here is the chart:
The realization that stocks are more like gambling at a casino than investing is sinking in. Investors, when analyzing the returns of the companies making up their ETF, see losses and increased unemployment, stagnant growth. Yet the stock price keeps climbing anyway. It is a matter of education. Will the alternative investment of choice be Gold or Bitcoin. This chart screams loudly that the market is choosing Bitcoin. All of us should own some of it, no matter our risk tolerance.
Neutral ATM is here to get everyone off of zero Bitcoin.
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