$1,000,000 #BitcoinIs a Joke To You?
BREAKING: Bitcoin ETFs traded $111 Billion in March — 3x more than February
@EricBalchunas
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$1,000,000 #BitcoinIs a Joke To You? When @balajis made the call on March the 17th, 2023 that Bitcoin would hit $1m within 90 days, the price of Bitcoin closed at just $27,454 for that day.
The majority reaction to his prediction was that it was a joke, and a bit of a stunt, mainly because of the 90 day timeframe.
Well, it's now more than a year later and Bitcoin is at $65,000. It would take ~15x increase for Bitcoin to hit $1M. Bitcoin bull markets have exceeded this return in 3 of first 4 cycles (yes, diminishing returns across all 4 cycles so far!)
But it does show, that $1m Bitcoin is not a joke anymore.
Not with ETF on ramps in the USA opening access to $100 Trillion in new funds.
Not when you look at:
US deficits, unsustainable debts, and huge interest payments.
Gold price hitting new highs.
Oil price up.
Commercial real estate tanking.
Banks hiding massive losses.
What happens when panic sets in and more people look for an asset with zero counter party risk?
Read Balaji's original thesis because $1m Bitcoin is no longer a joke.
It's sooner than you think.
https://twitter.com/balajis
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