Cryptocurrency and how it could soar past 20k

Cryptocurrency is a huge talking point in society today. You are either a crypto believer or you aren’t. You can’t really half believe because Bitcoin, Ethereum, and their ilk are either a revolution or a mirage.

Age is a big deal in this. It is comparable to computing 20 years ago where there was a dividing line between those who thought computers were a ridiculous fad and those who couldn’t live without them.

To the computing believers, it was simply a matter of time before everyone would have one; it’d go beyond Microsoft’s dream of a computer on every desk to a computer in every pocket, in every bag, and through every conceivable surface.

As a believer, I see that vision as clearly as I don’t see the nose on my face. It’s so central to what is in front of me I don’t even think about it.

Crypto breaks the stranglehold of gatekeepers, rentiers, and just the sort of power structures the young have been primed to see and hate.

Crypto is not the answer to a new utopia, just a solution to an ever-tightening grip of the parent empowered ultra-minority to whom all resources gravitate under the old networking laws of ‘droit de seigneur.’

Cryptocurrency age:  But why should Bitcoin rise to unbelievable heights?

There are many reasons. This is one:

If the world’s governments are set on inflating their budget blues away (they have little option) a zillion dollars a bitcoin is not that difficult to reach.

You can post your concerns to your local politician with one of these. Right now, however, you have a number of factors pushing the price.

• The halving of new Bitcoin production
• The DeFi boom sucking Bitcoin into interest-paying cryptocurrency platforms
• China trouble for tech oligarchs and for Hong Kong in general
• An SD card is worth a 1000kg of gold bars at the airport
• Broadening awareness, which is an ongoing and growing wave
• PayPal allowing its huge audience to buy and use Bitcoin
• Corporate treasuries slipping into buying crypto as an inflation hedge
• Brrr…. Brrr….Brrr….. at the central banks as they keep on hitting CTRL P on the money supply
• The DeFi boom showing even believers that cryptocurrency is just the tip of the spear from this technology

The list is long. How about the fact that gold is a $7 trillion dollar market and Bitcoin is a 0.3 trillion dollar asset or half of Tesla’s market cap or about 0.3% of the world’s equity markets?

Bitcoin is a small asset with very special and unique features. How far can it rise? At 1c a Satoshi, the minimum unit of Bitcoin is $1m. However, you can add zeros to that number with simple accountancy layers.

Bitcoin would have to be worth close to $20 trillion for that, which I think looks pretty meaty. $50,000 a coin is about a trillion dollars in market cap and that to me seems a hop, skip, and a jump in a world where countries are writing trillion-dollar cheques whenever the need calls.

In Germany, you could lick a stamp with 40 billion on the front and buy an egg in Zimbabwe for 100 trillion. Even without inflation, the fear of that future alone could see Bitcoin soaring through $20,000 towards much higher levels.

 Prepared by Patrick O’Brien

Clem Chambers is CEO of stocks, shares, and crypto website ADVFN. For the latest crypto, token and DeFi information visit: https://uk.advfn.com/cryptocurrency

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