Don't Overlook the Significance of Bitcoin
It's time to get on the train. The Bitcoin surge is going to melt your face.
Hey friends,
I hope you had a great Thanksgiving.
I'm writing an update to an article I shared with you on October 24, 2023, titled Why is Bitcoin Surging Now?
When I published that article last October Bitcoin was at $33,917. Since then, the price of Bitcoin is up 25% at $42,241 and the catalysis I've discussed have yet to happen!
See full article here: https://tief.substack.com/p/why-is-bitcoin-surging-now
These catalysts include:
Bitcoin is a global currency (not Government currency).
The halving in April 2024 will cut the supply of newly issued Bitcoin in half.
The SEC is on the verge of approving multiple spot Bitcoin ETFs.
Corporate balance sheets will soon be able to use fair-value accounting methods and put Bitcoin on their balance sheets.
The Federal Reserve is expected to reduce interest rates in 2024 as measured by the Fed Funds Rate. Mar 20, 2024: 25 bps cut to 5.00-5.25%. June 12, 2024: 25 bps cut to 4.75-5.00%. July 31, 2024: 25 bps cut to 4.50-4.75% Additional cuts to 3.57% by Dec 2025
There are 3 more catalysts that I'm going to add to this list today.
6. MicroStrategy CEO Michael Saylor continues to add Bitcoin to his corporate balance sheet. He recently announced that the company has acquired an additional 16,130 BTC bringing their total amount of BTC to 174,530. More companies will follow the MicroStrategy playbook in 2024 brining a flood of cash into Bitcoin.
7. Sovereign wealth funds, pension funds and insurance firms will allocate to Bitcoin. This is a real catalyst that will bring huge money flows into Bitcoin. Here are couple articles outlining this idea.
Link: Sovereign Wealth Fund Bitcoin Buy Represents the Future of Finance - Blockworks
Link: Pension funds and insurance firms alive to Bitcoin investment proposal (cointelegraph.com)
8. Bitcoin holders don’t appear to have any interest in selling into the strength of bitcoin’s price. Although the price is up over 150% year-to-date, the amount of Bitcoin in circulation that hasn’t moved in 1+ year hit a new all-time high over the weekend of 70.5%.
Bitcoin is the significant winner. These meaningful movements in price say more about the state of fiat currencies than it does about hard assets.
Fiat currencies have lost purchasing power as measured by U.S. Treasury Bonds which are supposed to be a safe haven for parking US Dollars. Note, if you had dollar cost averaged with $10 into various assets every day since 1/1/2020 here are your results.
Bitcoin: +106%
Nasdaq: +28%
S&P 500: +18%
Gold: +16%
U.S. Treasury Bonds: -20%
Do you see the world becoming more digital or less digital? What is the best-known digital money in the world right now?
The beautiful thing about Bitcoin is that we still have time to front run nation states and corporations who have yet to allocate into Bitcoin. If you're looking to start adding Bitcoin to your portfolio here are some places I have used myself.
It's time to get on the train. The Bitcoin surge is going to melt your face.
Money is technology for human energy storage. Good money takes effort to produce. Bitcoin is a testimony to this. The effort used to produce Bitcoin is the energy used by miners to decentralize, validate and produce new blocs in the blockchain.
We spend about 1/3 of our life working, which means 1/3 of our life is spent earning money. Money, an object to store our time and energy is a gift from God. Since we use our time and energy to earn money it's important that we use a money that will serve us and our children well.
With good money, we can collaborate to cultivate the earth into a mutually beneficial place that flourishes like a well-tended garden. That is the purpose of money.
If you'd like to go further down the rabbit hole I encourage you to browse through the comments from this post.
(1) BTC Sessions 😎 on X: "What are the best Bitcoin articles ever written?" / X (twitter.com)
Until next time my friend! Upwards and onwards.
Kind Regards,
Jeff Tiefenthaler
Jeff Tiefenthaler is the founder of Trading Tech and Consulting LLC.
Jeff is an experienced FinTech entrepreneur, accredited investor, and brand ambassador with two decades of experience trading in US stock and options markets, 15 years consulting for Microsoft brands such as Xbox, Windows and Office. He’s been featured in CoinMarketCap and awarded number one for articles with the highest views, top 10 for projects by Engagement Growth, top 10 for projects by community followers gained.
Please contact Tief for a free consultation today!