In a bold prediction, investor Luke Broyles asserts that Bitcoin will become the foundation of society’s monetary system, urging investors to take action and not miss out on the future gains it offers. Broyles emphasizes Bitcoin’s unique attribute of having a fixed, immutable supply, which sets it apart from traditional currencies. While innovations and countries’ monetary policies constantly fluctuate, Bitcoin’s emission remains constant, making even a small exposure to Bitcoin significant in the long run.
Broyles’ perspective aligns with former BitMEX CEO Arthur Hayes, who believes that artificial intelligence (AI) will naturally gravitate towards Bitcoin due to its distinct qualities compared to other assets, including gold. Hayes predicts that AI alone could propel the price of Bitcoin past $750,000 per token, highlighting the growing importance of Bitcoin in the future financial landscape.
There are already indications that the race to secure the remaining Bitcoin supply has begun. Following BlackRock’s announcement of a Bitcoin spot-based exchange-traded fund (ETF) filing, the United States observed a surge in Bitcoin activity. Glassnode, an on-chain analytics firm, noted that US entities appear to be reassessing their exposure to Bitcoin, marking a potential inflection point in supply dominance if this trend continues.
The liquidity of Bitcoin peaked during the March 2020 cross-market crash, according to Broyles, and is unlikely to retrace its steps. The recent development of BlackRock’s ETF filing has further catalyzed US Bitcoin buying, indicating a shift in market sentiment and increased interest in Bitcoin as an investment.
It is important for individuals to ‘get off zero’ and not overlook Bitcoin’s potential. Referring to Bitcoin as the digital equivalent of gold downplays its significance; rather, Bitcoin represents a revolutionary form of money that will capture future prosperity gains and become the base currency of society.
This article serves as an analysis and does not provide investment advice or recommendations. As with any investment or trading decision, readers are advised to conduct their own research and consider the associated risks.