Bitcoin (BTC) is set to become “society’s base money,” according to investor Luke Broyles. In a recent Twitter thread, Broyles outlined his bold vision for Bitcoin, highlighting its unique attribute of having a fixed and immutable supply. While other innovations, including artificial intelligence (AI), may force prices down and encourage currency printing, Bitcoin will remain constant, positioning itself as an asset for future prosperity. With Bitcoin already trading for significant amounts in many nations, it is crucial for individuals to “get off zero” and recognize the potential of this digital currency.
A Unique Asset in a Changing World
Broyles’ perspective aligns with that of Arthur Hayes, former CEO of BitMEX, who believes that AI will naturally gravitate towards Bitcoin as its financial lifeblood. This is due to Bitcoin’s distinct qualities compared to other assets, such as gold. Hayes even predicts that AI alone could drive the price of BTC to over $750,000 per token. The race to secure the remaining Bitcoin supply may have already begun, with Bitcoin liquidity peaking during the March 2020 market crash and showing no signs of reversing.
Changing Tides in the U.S.
The recent announcement of a Bitcoin spot-based exchange-traded fund (ETF) filing by BlackRock, the world’s largest asset manager, has sparked increased activity in the United States. On-chain analytics firm Glassnode notes that following this announcement, the share of Bitcoin supply held/traded by US entities has experienced a significant uptick. This shift in supply dominance could potentially mark a turning point in Bitcoin’s global presence. A chart provided by Glassnode illustrates the changing ownership patterns of BTC supply across different regions.
Bitcoin’s status as society’s base money means that it has the potential to capture all prosperity gains from future innovations. While other currencies may experience inflation due to increased money printing, Bitcoin’s fixed supply ensures its long-term stability. As the world becomes increasingly interconnected and reliant on digital transactions, Bitcoin’s role as a decentralized and secure currency becomes even more crucial. Embracing Bitcoin is not only an investment in the present but also a strategic move towards securing a prosperous future.
Embracing Change
To truly benefit from Bitcoin’s potential, individuals must overcome any skepticism and take action. Getting involved in Bitcoin, even with a small exposure, can have significant implications for one’s financial future. Bitcoin’s rise to prominence as society’s base money opens the doors to countless opportunities and ensures that individuals are not left behind as global economies evolve. Recognizing Bitcoin as more than just “digital gold” is essential, as it represents an entirely new era of financial possibilities.
As Bitcoin establishes itself as the world’s go-to currency, its impact will extend far beyond financial markets. Bitcoin’s decentralized nature challenges traditional financial systems and empowers individuals to take control of their wealth. This shift in power can lead to greater financial inclusion as individuals, particularly in underserved areas, gain access to a borderless and censorship-resistant currency. Bitcoin has the potential to level the playing field, disrupt the status quo, and create a more equitable world.
Bitcoin’s journey towards becoming society’s base money is underway. With its fixed supply and unique attributes, Bitcoin is positioned to absorb all prosperity gains from future innovations. Embracing Bitcoin and recognizing its potential is crucial in securing a future where individuals have control over their finances and are not left behind in a rapidly changing world. Bitcoin represents the dawn of a new era, and those who “get off zero” stand to benefit the most from its transformative power.
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