Bitcoin (BTC) will absorb “all the benefits of prosperity” in the future, leaving those without risk, a new prediction says.
in a twitter topic On July 8, investor Luke Broyles published a bold vision for how Bitcoin could become “the foundational currency of society.”
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What started as a commentary on how artificial intelligence (AI) welcomed Bitcoin quickly became a dramatic outline of how Bitcoin could eventually become the world’s currency of choice.
For Broyles, bitcoin’s key property — a fixed, immutable supply — makes it a uniquely future-proof asset.
“Every innovation (even artificial intelligence) will be driven as fast as possible to drive down prices competitively. Every country will be printing money as quickly as possible to drive up prices and maintain credit markets. Both forces will accelerate,” he wrote.
At the same time, the issuance of Bitcoin will remain the same, so even a small exposure will be a world of nothing at all.
“We have less in common with the future than we did with the past…Bitcoin is already traded in hundreds of millions of political currency units in many countries. But what really matters is that all the benefits of prosperity from all future innovations flow into society base currency — bitcoin,” Breuers continued.
“That’s why it’s critical that people ‘start from scratch’.” Saying ‘bitcoin is digital gold’ is like saying a locomotive is an iron horse. “
His views are in line with those recently expressed by former CEO of cryptocurrency derivatives exchange BitMEX Arthur Hayes.
As Cointelegraph reported, Hayes believes that AI will instinctively choose BTC as its financial lifeline, again due to its unique qualities compared to other assets, including gold.
Therefore, artificial intelligence alone could push the BTC price above $750,000 per coin.
BTC supply dominance hits ‘inflection point’
Meanwhile, the race for the remaining bitcoin supply may have begun.
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According to Broyles, Bitcoin’s liquidity actually peaked during the March 2020 cross-market crash, and has never fallen back since.
Meanwhile, bitcoin activity in the U.S. surged when the world’s largest asset manager, BlackRock, announced the filing of a bitcoin spot exchange-traded fund (ETF).
As pointed out by on-chain analytics firm Glassnode, the U.S. appears to be reassessing its own risk exposure.
“Following the BlackRock Bitcoin ETF request announcement on June 15, the share of Bitcoin supply held/traded by US entities has risen significantly, marking a potential inflection point in supply dominance if this trend continues.” commented July 8.
The accompanying chart shows the differences in ownership changes in BTC supply across regions.
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This article does not contain investment advice or recommendations. Every investment and transaction involves risk, and readers should do their own research when making a decision.
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