Bitcoin (BTC) will suck up “all prosperity gains” in the future, leaving people with no exposure behind, says a new forecast.
and twitter thread On July 8th, investor Luke Broyles unveiled a bold vision of how Bitcoin could become the “basic currency of society.”
Investors tell Bitcoin buyers to ‘get out of zero’
What started as a commentary on how artificial intelligence (AI) welcomed BTC quickly became a dramatic overview of how BTC will become the world’s go-to currency. rice field.
For Broyles, Bitcoin’s key attribute — a fixed, unchanging supply — makes it unique as a future-proof asset.
“Any innovation (including AI) will rush as quickly as possible to competitively drive down prices. Countries will try to print currency as quickly as possible to push prices up and sustain credit markets. Both of these forces will increase velocity,” he wrote.
BTC, on the other hand, maintains constant emissions, so even small exposures are far from zero.
“We have less in common with the future than with the past… Bitcoin already trades in hundreds of millions of political units in many countries. All the prosperity that comes from innovation will flow into BTC, the base currency of society,” Broyles continued.
“That’s why it’s so important for people to ‘start from scratch’.” Saying ‘Bitcoin is digital gold’ is like saying that a locomotive is an iron horse. ”
His view aligns with the recently announced position of former CEO of crypto derivatives exchange BitMEX, Arthur Hayes.
As Cointelegraph reported, Hayes believes AI will instinctively choose BTC as a financial lifeline, thanks to its unique properties compared to other assets, including gold.
As a result, AI alone could drive the BTC price above $750,000 per token.
BTC Supply Dominance Reaches “Inflection Point”
Meanwhile, the race to secure the remaining BTC supply may already have begun.
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Broyles argued that Bitcoin’s liquidity actually peaked during the cross-market crash in March 2020 and has not regained that stride since.
Meanwhile, U.S. BTC activity surged when BlackRock, the world’s largest asset manager, announced a Bitcoin spot-based Exchange Traded Fund (ETF) application.
As pointed out by on-chain analytics firm Glassnode, the US appears to be reassessing its exposure.
“Following the announcement of the BlackRock Bitcoin ETF solicitation on June 15, the share of bitcoin supply held and traded by U.S. companies has experienced a marked rise, and the potential for supply dominance if this trend continues. It will be an inflection point.” commented July 8th.
The attached graph shows the difference in change in BTC supply ownership by region.
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This article does not contain investment advice or recommendations. Any investment or trading move involves risk and readers should conduct their own research before making any decision.
