Is It A Whip-Chain Currency Or A Block-And-Tackle Currency?
All my friends know that I'm the owner of ONE Bitcoin which I bought for about 20 USD right when the whole thing started, more or less on a lark. I figured "what the hell." Never before have I encountered this many instances of backseat driving than this particular thing. Every single person keeps telling me I should sell it, but looking back, I would have only benefited THEM and THEIR EGO by doing so. How come nobody cared about all them Volkswagen shares I had? Why does everybody care about Bitcoin all of a sudden? Should've cared back in 2009. Its very existence shows that wealth is (and always has been) a largely illusory thing. At one time, wealth was measured by shiny stones, then shrunken heads, then head of grazing cattle, then bars of Gold, belts made of wampum, or coloured pieces of paper. In each case that determinant was more or less arbitrary. The fact that people much higher up on the food chain than myself are putting money in Bitcoin means its utility value is greater than something equally as arbitrary as say the USD. If I had 9 BILLION Dollars like Musk has, I would also put 1.5 billion of it into Bitcoin for one simple reason: the USD is based on a pre-ruined economy artificially held up by flying buttresses known as "quantitative easing" as well as the fact that you still generally need USD to buy weapons and oil. If I had 9 billion Dollars in cash, I would NOT consider myself a rich man, but more like a "writch" one (wretched + rich) because there really are no good investments out there right now. Sure, a lot of asset classes are undervalued, but since we're in unprecedented territory with the global economic shutdowns, nobody knows which of those values are permanent and which are temporary. Only a global lifting of sanctions (oops, I meant the lockdowns) will we have price discovery and a return of some sembleance of predictability into the markets. If I had 9 billion Dollars that I needed to keep liquid, I wouldn't be looking at ANY of the traditional safe havens with any degree of confidence, not even Gold.
The only real question is where do the global elites want to take this? The bioengineered virus didn't kill that many people, and neither did the global lockdowns, although the vaccine seems to be working, that is, if you assume that their goal is population reduction. The question on my mind is: who do they want to keep around after all is said and done? The people stupid enough to take the shot and survive it, or the people who refuse to take it?
If the global population reduction is successful, will there be a whole lot of demand for real estate? Gold? Or how about LABOUR? Notwithstanding the direct results of their aims, the ongoing soft-kill programs like 5G, chemtrails, ubiquitous WiFi, Fukushima, GMOs, and carcinogens intentionally placed in food and cosmetic products have all made the rest of us quite feeble and sickly. Getting people used to taking an unqualified minimum UBI income, and the mandated stay-at-home orders have made even the healthy people quite lazy and out-of-shape. Any recovery will be sluggish at best, and generally speaking, economies in the recovery phase generally don't go to war. Since fewer people are driving around, the demand for oil is also not that high meaning that the main source of demand for the USD is itself diminishing. From a short-term viewpoint, a cash position in the EUR and CHF seems more prudent.
People think that Bitcoin is a flash in the pan. Some recent thing that will go away. Yes, it's only been around since 2009, but how long ago was the Euro launched? Wasn't that 2002? Wasn't that also a journey into "uncharted territory" being the first non-national currency? The main complaint is that Bitcoin pays no interest or dividends. While this may be true in a traditional sense, there have been forks and airdrops of spinoff coins like Ethereum, Bitcoin Cash, Bitcoin Gold, etc. where if you had kept up with these, you'd have another cca. 50% in value of all these other coins combined.