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Hyperbitcoinization Soon? Nations, Pensions, UHNWIs, etc.

Hyperbitcoinization Soon? Nations, Pensions, UHNWIs, etc.

Bitcoin Reddit

Reddit / Bitcoin Reddit 36 Views

If you haven't read it, here's the original article on Hyperbitcoinization.

Here's recent speculation that Russia was going to buy $10bn in Bitcoin in 2019:

Here's news about the legal framework that opens up France's 2.5trln life insurance market to crypto assets.

Earlier this month there was speculation that a "mystery" entity purchased $100mln of Bitcoin and pushed the price up $1000 in a few hours. That's "just" $100mln. $10bn is 100x that. So--arguably--a $10bn buy by ANY ENTITY is likely to spike the price by at least one order of magnitude above its current rate. Maybe more. Obviously $10bn is a lot of money. But it isn't that much for a major entity like a nation state or a pension or a life insurance plan. There are even a few ultra high net worth individuals who might consider throwing a cool billion into Bitcoin (Richard Branson and Jack Dorsey come to mind).

Will any of this happen? I don't know. I hope so, but I don't know. What I do know is that there are a lot of pieces on the table that look like they could fit together into something rather extraordinary.

I feel like we're sitting on a rocket-shaped powder keg the size of the global economy and people keep throwing matches at it... sooner or later it just might light up, and then we'll have a rather memorable liftoff.

Agree? Disagree? Why?

edit: maths

submitted by /u/Kinolva
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