YouTube connoisseur and author Louis Thomas has recently published a video during which is discusses how Bitcoin could move up to $100,000, faster than we think - https://www.youtube.com/watch?v=5LhDzDtt5sI
Before we begin, please remember that this is not investment advice and is of course based upon speculation. Louis Thomas is not a financial advisor and therefore is working on speculation and assumptions. Even so though, speculative ideas can be useful in creating a bigger picture within your investment research. This news can help to inform your own portfolio and thus, is useful to know.
So, how can Bitcoin hit $100,000, quickly?
Essentially, Thomas believes that we simply just need to get the worlds wealthiest people to shift some of their riches into cryptocurrency.
It’s important at this point to refer to a study by the Credit Suisse Report in 2017 that found the top 1%, own more than half of the worlds wealth. According to The Guardian, the report states:
“These millionaires – who account for 0.7% of the world’s adult population – control 46% of total global wealth that now stands at $280tn.”
You can see the full report by The Guardian here-https://www.theguardian.com/inequality/2017/nov/14/worlds-richest-wealth-credit-suisse
Its astonishing when you think about it, the top 1% of the world owns half the worlds wealth. Scale it down and imagine there is only 100 people on the planet. That’s the same as just one person owning 50% of the worlds money. Now imagine how much power that person has, and now, imagine that power being transferred into the cryptocurrency markets.
Thomas refers to how, on the flipside to this statistic, the bottom 50% of the worlds population own around 1% of the worlds wealth. Within this, Thomas considers how even with 50% of the entire worlds population working with Bitcoin, they still don’t have enough financial power to make changes within the markets, ultimately, they only own 1% of the wealth and therefore have no significance. It is the top 1%, they still hold the power, no matter what.
So, this brings us to a point we make again and again. In order for Bitcoin to jump to prices of $20,000, $100,000 etc, we need to get that big institutional investment on board. When it happens, the markets will fly upwards, at an alarmingly fast rate (as Thomas discusses).
Please do watch the video produced by Thomas, he raises some very interesting points and really, we believe what he is saying is correct. In a world where the top 1% own 50% of the wealth, the only way we can ever see Bitcoin fly to record high prices is when that top 1% start getting involved in cryptocurrency investment. They have too much power and thus, until they start to use that power in the crypto-sphere, prices will remain steady, in essence at least. Its unfortunate, but its what we are faced with today.
Robert is a keen investor with a particular interest in cryptocurrencies. He has been involved in the industry for many years, and because of this, has gathered a lot of knowledge surrounding this area. He studied English at university level and has a passion for writing. He loves being able to combine his two mains interests on a daily basis.