Bitcoin is in a weird position right now.
It is hovering around $100k for some reason.
With the amount of ETF buying and Michael Saylor buying, there should be a lot of up pressure on the price, but there isn't.
So, are we at the top? The bottom? Or are we on the cusp of something that will be economics redefining?
Many people say bitcoin is a bubble, and about to pop. Bitcoin will go to zero. Bitcoin is dead… again.
And there is that possibility. The US govern-cement could, somehow, destroy it. By regulating it out of existence. Turning off the electric grid. Shutting off the internet. And/or demanding everyone use FedNowCash, under penalty of being shot, without a trial.
Of course, none of this would work. As every piece of that, people all over the world would not even notice, and the people in The US would just find a work around.
The Elite could do something that makes bitcoin boring, and so destroy it that way. However, bitcoin lovers are usually Elite haters and don't listen to the TV.
With bitcoin ETFs being the fastest growing ETFs ever, and interest is not waning, but growing, so, i am pretty sure that bitcoin is not in a bubble.
Instead of popping, crashing, fizzling out, or going to zero, it actually appears that everything is going to zero vs. bitcoin.
Bitcoin is growing bigger.
Trump announced creating a bitcoin reserve for America. (not The US… weird)
Many other countries are talking about front-running America.
Michael Saylor is raising more funds to buy more bitcoin.
Many companies are talking about getting into bitcoin too.
Of course, if these companies / countries are all talking about it, they have already been doing it, quietly.
And that may be the biggest problem. Everyone is buying; who is selling?
I hope that Coinbase is not selling customer's cold stored bitcoin. If they are, they are a gone company. Because bitcoin is about to skyrocket, and become unobtainium. Coinbase will never be able to afford the bitcoin to give back, and there won't be anyone selling, if they could afford it.
It is all about the supply crunch.
If The US actually starts buying bitcoin, they have all the dollars to throw at it. The price can go sky high. The only stop is where the dollar stops being valuable. (at least in bitcoin terms)
Maybe there is a lot more people out there willing to provide bitcoin at $100k. And they are selling to the likes of Michael Saylor directly; not being put onto the exchange.
But what happens when enough people are willing to buy up whatever is offered, at whatever price is offered? When everything put onto an exchange is bought at whatever the ask is?
Instead of an exchange, which is trying to find market price because of enough liquidity, we change to an auction. And people bid whatever they can, to get an ever increasingly scarce commodity.
Things could get really furious out there on bitcoin sites.
But, what does this all really mean?
We are at the start of bitcoin becoming the world reserve commodity. (not cyrpto adoption)
Gold is a problematic commodity. Especially in a world where everyone is going to war. It becomes impossible to exchange. Especially when no one trusts each other.
Whereas bitcoin doesn't care about borders. It can go everywhere the internet goes. And its trustless. The perfect thing for the govern-cements and large corporations to use in balancing the books.
So, if we do not see the supply crunch. Bitcoin is going to somewhere around $250,000.
If we do run out of bitcoin on exchanges, bitcoin will go to prices that are unbelievable. $1 million will be the price before people just give up trying to price bitcoin in dollars. Before $10 million, we will see things priced in bitcoin. There just isn't enough actual liquid cash to convert into and out of crypto to do those transactions. There is only enough Tether to buy 13,000 bitcoin at those prices.
Which also leads to another piece to ponder over. As they print more dollars to buy more bitcoin, stable coins may go up in value because they can't print enough tokens to keep up with the inflation. So, USDT may go to $3.
The rush to get into bitcoin will be real.