Bitcoin Content (BTC) investor and creator Bram Kanstein has no doubts. Digital currency will outweigh gold as a value reserve.
So, Bitcoin still has a long journey, but experts will project when the BTC price reaches $1 million.
This number arises not from a matter of faith, but from a critical vision of the current financial system. “It’s useless to promote “better money to exchange things” because 99% of people don’t understand that their money is damaged (and are predators), and in my humble opinion, it’s a waste of time right now,” he explains.
Specialists have not focused their analysis on the idea that BTC must compete in the short term as half price. It should be noted that this story is used by many critics to argue that BTC is a failure, as it does not properly fulfill its function. Even some cryptocurrencies have arisen with the aim of covering doubts or their demands, such as Bitcoin Cash (BCH), Kaspa (KAS).
In this case, Kanstein focuses on what he considers to be the true value of BTC. His role as a displacement to monetary policy promoted by government agencies.
This is because BTC is a decentralized and censor-resistant asset. Furthermore, its supply is limited to 21 million units, and its broadcasts are cut every four years at an event known as half.
Unlike Fíat money, which is constantly mitigated by monetary policy and political manipulation, BTC has emerged as a rare, scheduled asset that can maintain its value over time.
To illustrate this approach, it is best to observe the following infographic: How did the purchasing power of the dollar decline over the last century?
in contrast, BTC prices have evolved since its launch in 2009showing a clear upward trend.
Continuing with Kanstein’s paper, the most obvious use of BTC is to “become a great savings tool as the loss of purchasing power is becoming more and more obvious to more people.” Additionally, he adds:
“This is a much better, more practical strategy for people to adopt BTC. The simple fact that it is more valuable than gold leads to a million dollar change rate due to Bitcoin.
Bram Kanstein, BTC investor and promoter.
In this idea, Kanstein mentions the inevitable generational transfer of wealth. In other words, Baby Boomer Generation – People born between 1946 and 1964 mostly accumulated assets under the paradigm of Phili’s money and traditional financial products. Millennials (born between 1981 and 1996) recognises the generations open to digital assets and the limitations of the current financial system.
In that sense, investors explain the courses that they must cross BTC so that BTC is adopted. Simply put, the sequence is: First value deposit, then half of the exchange, and finally account unit.
According to a Kanstein BTC paper, its first phase as a reserve asset is still travelling, more than 15 years after its creation. More and more businesses and governments are studying the possibility of accumulating BTC in their financial or strategic reserves to protect themselves from economic risks, diversify their holdings, and benefit from the potential value of digital currencies.
However, there are still as they evolve as a replacement for daily use to pay for goods and services. To achieve this, More education and promotion of the benefits of decentralized money, rare and resistance is necessary for censorship. This requires the addition of technological advancements and appropriate and large amounts of development. This makes it easy for anyone to use the Bitcoin Network scalability solution, which BTC could become employed for day-to-day payments.
Finally, the account unit is at the stage where the economy begins to talk about BTC or Satoshis, not the dollar or euro. Without a doubt, this instance is still far away.
In this regard, Kanstein states: “Yes, Bitcoin is already good money, but you don’t understand it. It takes time and education. It’s not a disappointment to talk about how BTC fails. This will definitely discourage you from learning about it.