Bitcoin Predicted to Absorb “All Prosperity Gains” in the Future, Leaving Non-Exposure Behind
Bitcoin (BTC) is expected to absorb all prosperity gains in the future, according to a new prediction. In a Twitter thread on July 8, investor Luke Broyles outlined his bold vision of Bitcoin becoming “society’s base money.” Broyles began by discussing how artificial intelligence (AI) is embracing BTC but quickly turned to the idea that Bitcoin should ultimately become the world’s go-to currency.
Broyles highlighted Bitcoin’s main attribute – its fixed and immutable supply – as what makes it unique as a future-proof asset. Unlike other innovations and countries that rush to competitively force prices down or print currency to sustain credit markets, BTC will remain constant in its emission. As a result, even a small exposure to Bitcoin is significantly different from having no exposure at all.
According to Broyles, all prosperity gains from future innovations will flow into Bitcoin, making it crucial for people to “get off zero” and acknowledge that Bitcoin is more than just digital gold. Broyles illustrated his perspective with a chart showing Bitcoin supply dynamics data.
This prediction is in line with the beliefs of Arthur Hayes, former CEO of BitMEX. Hayes also believes that AI will instinctively choose Bitcoin as its financial lifeblood due to its unique qualities compared to other assets, including gold. Hayes even suggested that AI alone could drive the price of BTC beyond $750,000 per token.
Meanwhile, the race to secure the remaining Bitcoin supply may have already begun. Broyles argued that Bitcoin liquidity peaked during the cross-market crash in March 2020 and will never retrace its steps. The announcement of a Bitcoin spot-based exchange-traded fund (ETF) filing by BlackRock, the world’s largest asset manager, caused a surge in BTC activity in the United States.
On-chain analytics firm Glassnode noted that the U.S. is reassessing its exposure to Bitcoin, with a notable uptick in the share of Bitcoin supply held/traded by U.S. entities. This trend could mark a potential inflection point in supply dominance if sustained, according to Glassnode.
It is important to note that this article does not provide investment advice or recommendations. As with any investment or trading decision, there are risks involved, and readers should conduct their own research before making a decision.