There is almost nothing more transformational than the availability of generational wealth to every man who is willing to act.
Crypto currency is in everyone’ awareness now, even if most do not have any real idea how to participate. 2017 saw a massive increase in the price and interest in Bitcoin (the first crypto currency), and people often look at the price increase in 2020, suggesting that the crashing of BTC price will happen like it did in 2017 after the big pump.
Below are a few facts that change the direction of crypto currency.
- Publicly traded companies are purchasing large quantities of Bitcoin to hedge against the inevitable devaluing of the US Dollar and other currencies.
My interpretation: Once any publicly traded company does this, the boards of other publicly traded companies must consider doing the same as a strategy, or answer to their shareholders for malfeasance.
- A blockchain is the publicly visible ledger or transactions in Bitcoin. Last year, a trillion dollars in transactions were completed on the chain. This is more activity than was done on other, widely used, mainstream payment systems…systems you likely are using today: PayPal, Venmo, ApplePay to mention a few.
- There is a huge increase in unique wallet IDs, which means more people are entering the Bitcoin network.
- Favorable legislation: In May, the use of digital currency by banks to handle payment activities was approved.
- Look on the PayPal app that you likely already have on your phone. In December, a “crypto” feature was added to allow you to purchase and sell crypto currency. This indicates wide adoption and acceptance.
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