Bitcoin To $400,000 and 1 Billion Users Is UNSTOPPABLE!

Bitcoin To $400,000 and 1 Billion Users Is UNSTOPPABLE!

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In this interview with Scott Melker, Anthony Saramucci explains why he believes Bitcoin will rise to as high as $400,000.
What follows is the summary of the video.

There are 125 million Bitcoin accounts, with a projection that the number will hit 1 billion in the next four years. Psychologically, some people can't understand it because they had the chance to buy Bitcoin when it was still $500 or $1,000 a coin. But the storage capabilities and the ease of buying Bitcoin have improved dramatically. You can get it at Coinbase, Binance, or any other exchange and be sure of its safety. Stories about MicroStrategy and Elon Musk promoting Bitcoin. All these stories are positive for Bitcoin.

Likewise, there are pieces of bad news that are creating deceleration for the system. The boom and bust cycle is usually associated with the early adoption of things. Facebook, Google, Amazon, and anything scaling under Metcalfe's Law and the networking effects. But Bitcoin is anti-fragile because it rose from $8,000 a year ago to over $60,000 now. The psychology of seeing a $64,000 price is unsettling to people, but it's positive because it's a supply-demand shortage. It's a sensitivity to the fact that this is a tight market.

If BlackRock hypothetically came in and bought $500 million or $2 billion worth of Bitcoin, for example, it would sizably move the markets and tighten the supply.

Now, we've had positive stories about Bitcoin adoption and ecosystem. El-Salvador has adopted Bitcoin as a legal tender. Facebook is now thinking about ending Libra and using Bitcoin. PayPal, Square, and other big companies are becoming a part of the Bitcoin community. There is more positive news in the last 12 months than at any time in the history of Bitcoin. The latest news from the Bitcoin Mining Council is that 56% of miners are now using renewable energy.

Saramucci's message to those who have not yet bought Bitcoin is that we're just getting started. Anything below 40,000 is screaming buy in Bitcoin. He made the same prediction a year ago. It is worth noting that Amazon had gone from $10,000 investment on its IPO to $21,140,000. This means your $10,000 then is now with $21 million today. But you would have to subject yourself to a 50% fall in Amazon during a crisis.

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