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Apple and Mastercard announced that they are getting into Bitcoin and the cryptocurrency space. This is huge news. Before we get into apple and master card, there was another huge catalyst this past week that boosted the price of Bitcoin which was the announcement from the oldest bank in America, BNY – Melon Bank that they will custody Bitcoin. The reason that this is such a huge deal is because BNY Mellon’s reputation is very conservative. This means banks will be able to create their own stable coins that will actually be properly regulated unlike Tether. We will also see things like crypto loans (thanks in part to the OCC, which is a regulatory branch of the US Treasury that regulates banks).
But there is a bigger impact of what this means for investors. We will see a future where asset digitization is standard. Imagine you own a house but instead of selling it like you would traditionally, you would create tokens of your house for other people to buy into and invest with. For example, I live in Las Vegas, but I want to buy real estate in Hawaii because it’s a global market. Except I don’t want to buy a house because I don’t live in Hawaii, and I may not want to buy a REIT stock. Instead, I want to buy a specific house. Tokenization will allow me to invest my money into hyper specific assets and own a partial percent of it, where I can sell it at any moment and collect a profit. This will not be limited to real estate, we’re seeing this happen with the collectibles market already. In the near future, we’ll have people like Mr. Beast and even Logan Paul create their own tokens for us to invest in them as if they were a corporation. Wild times. This is just the beginning.
Another thing that happened is that the city of Miami became the first city to get official approval to integrate Bitcoin. This makes Miami the first city of the US to do this which means several things. First, Miami will likely convert some of it’s cash into Bitcoin. Two, people will be able to pay city fees and taxes with Bitcoin, and three: people will be able to have a part of their salaries paid in Bitcoin. This is huge news. We also had Venmo announce it’s participation in the crypto space to follow PayPal’s announcement.
We also had Master Card and Apple get into the cryptocurrency space. Master Card will now let merchants accept Bitcoin as a form of payment. Lastly, Apple will partner with BitPay to integrate Bitcoin into Apple Pay. You will now be able to use your BitPay Debit card within Apple Pay, meaning you’ll be able to spend your Bitcoins anywhere companies accept Apple Pay. While this is not the same as these companies adding Bitcoin to their balance sheet, it’s still a massive step in the right direction and just the beginning. Thanks to Elon Musk and Tesla announcing their integration of Bitcoin, we’ll see more companies and banks come forward to compete with their own crypto products.
So should you buy Bitcoin, even when it’s currently at the all time high floating around $50,000? The truth is, it’s going to continue to be manipulated in price just like it’s been since the start. We are going to crash again, just like we have before. That crash can bring it down to as long as $30,000 or it can bring it down to $15,000, who knows. We will continue crashing, upward. But here’s the difference between now, and all the previous crashes that came before. Now the institutions and hedge funds with billions of dollars have slowly started to enter which means the market cap of Bitcoin has grown substantially. This makes it much more difficult to manipulate it’s price meaning it’s unlikely that it will crash 90% or more (not impossible, but unlikely). If I were starting all over again, I would dollar cost average 10% of my income into Bitcoin, even at these prices. In hindsight, $50,000 will look cheap.
*None of this is meant to be construed as investment advice, it’s for entertainment purposes only. Links above include affiliate commission or referrals. I’m part of an affiliate network and I receive compensation from partnering websites. The video is accurate as of the posting date but may not be accurate in the future.