Greetings folks, I'm new to these Off-Topic forums but noticed there isn't a Bitcoin thread. Thought I would take the opportunity to introduce myself and simultaneously recommend that ya'll grab some while they are relatively cheap.
I'm not an investment advisor and I'm also not selling anything. Just sharing information in an asset I really believe in.
- I don't recommend you invest more than you can afford to lose.
- I don't recommend not having any.
There are two levers that are about to be pulled that should send the price of Bitcoin parabolic.
1) The halving in April of 2024. This is when the amount of newly minted Bitcoins gets cut in half. It happens every 4 years and historically has sent the price of Bitcoin 10x within 12 months of each halving.
2) The SEC is getting ready to approve a SPOT ETF for Bitcoin which means, institutional wealth managers will now have access to purchase Bitcoin on behalf of their clients (pension funds, corporate treasuries, sovereign wealth, etc.)
An entirely new segment of investors are coming into the space. This could literally happen any day now, maybe even tomorrow. It is expected that billions of new dollars will be entering the Bitcoin space over the next 6-18 months.
Some facts to know about Bitcoin:
- There will only ever be 21 million Bitcoins.
- 19.5 million Bitcoins have already been mined
- Approximately 3 million Bitcoins are assumed lost forever
- Every 4 years the amount of new Bitcoins that can be mined gets cut in half effectively doubling the cost to mine new Bitcoins.
- Bitcoin is the best performing asset over the last 10 years showing approximately 144% annual returns
- Bitcoin is extremely volatile but has also gained institutional and Wall St. acceptance. The application of a Spot ETF for Bitcoin by companies like Blackrock, Fidelity and Vanguard illustrate that companies who manage $30 Trillion of institutional wealth want to direct clients into Bitcoin.
- Bitcoin has seen over 137% gains this year alone.
- A Bitcoin cycle is 4 years. No one who has bought Bitcoin and held it for more than 4 years is in the red.
- It is approximated the 92% of all Bitcoin wallets are in the green.
Bitcoin Price Jan 4th, 2024 - $43,737
Lets see where this goes
