Bitcoin is off to its worst start to a calendar year in almost a decade…
The granddaddy of crypto opened 2022 with a sluggish start, and recent weakness since hitting its all-time high of $68,789 in November has brought the skeptics out of the woodwork…
JPMorgan CEO and anti-crypto crusader Jamie Dimon reemerged to deride bitcoin as “worthless.”
(Meanwhile, JPMorgan is offering crypto funds to all its clients.)
And he’s not alone in his thinking…
In December, an official at the Bank of England said the crypto’s scarcity “may even, ultimately, render bitcoin worthless.”
Of course, these skeptics conveniently ignore bitcoin’s track record. They leave out the fact that after every sell-off… bitcoin emerges even stronger.
And just imagine the backlash if a banking exec said that the scarcity of precious metals would make things like gold and platinum “worthless.” They’d be laughed out of a job.
Those comments aside, I do understand why some crypto investors might be worried.
If we look to bitcoin as a proxy for the overall market, it’s now down about 40% from its November all-time high.
But that’s par for the course for bitcoin. We’ve seen it drop 30% or more multiple times throughout its history… only to reach new highs shortly after.
As recently as last spring, we saw bitcoin dip from a record high of over $63,000 in March to a low of $29,800 in July… A stunning 52.6% plunge.
Yet, just four months later, it was trading at a record high of nearly $69,000.
So these kinds of swings aren’t new territory for us. Neither are the doomsday “death of bitcoin” headlines we see after almost every price dip.
Remember, volatility is our friend. Bitcoin couldn’t have powered from less than a penny in 2008 to nearly $69,000 last year without it.
So embrace it. And don’t let the recent pullback scare you out of what Daily editor Teeka Tiwari considers a world-class asset.
In fact, you should view bitcoin’s volatility as the gift that keeps on giving…
Be Thankful for This Buying Opportunity
Yesterday, bitcoin briefly fell below $40,000. At these levels, you’re getting a chance to buy bitcoin at a discount you may never see again.
Teeka predicts bitcoin will hit $500,00 over the coming years. So the current price drop will just be a blip on the price chart.
The main driver pushing bitcoin’s price higher will be mass adoption. And even though bitcoin has been around for more than a decade, it’s still in its early phases.
An estimated 114 million people have a bitcoin wallet or own bitcoin. Compare that to nearly 6.6 billion smartphone users on the planet.
Teeka believes the number of bitcoin owners will eventually equal or surpass the number of smartphone users. So that’s about 50 times organic growth alone right there.
And unlike smartphones, you can’t just create new bitcoin out of thin air. The bitcoin code caps its supply at 21 million.
It seems the official from the Bank of England missed Economics 101… When you have accelerating demand matched with limited supply, you don’t need to be a central banker to know prices have only one place to go.
And we’re seeing signs of widespread bitcoin adoption all around us.
Our in-house analysts produce a high-level, weekly research report on the crypto space. And each week, it contains the names of dozens of companies (including Dimon’s JPMorgan) across every industry imaginable who are adopting bitcoin into their business models.
One of the most innovative uses for bitcoin comes from BTCS, a company specializing in blockchain infrastructure.
Just last week, BTCS announced it would become the first Nasdaq-listed company to distribute a dividend payable in bitcoin.
Stockholders will receive a “bividend” worth $0.05 in BTC for every share of company stock they own. (Investors who don’t elect to receive a bividend will receive a cash dividend of equal value.)
I don’t know about you… but I’d rather take my dividend in an appreciating (though highly volatile) asset like bitcoin… rather than U.S. dollars, which get eroded by inflation.
We’re already seeing some companies offer bonuses and salaries paid in crypto to attract high-end talent.
How long until they start paying dividends in crypto to start attracting investors?
Not only could you see your share price appreciate… but also your dividends. It’s a no-brainer.
The long-term bitcoin fundamentals are still intact… and the short-term technicals are setting up nicely.
I reached out to our world-class team of crypto experts and asked them to crunch the numbers.
Right now, about 76% of bitcoin’s supply is illiquid. That means those coins are held offline, locked up by long-term holders in cold storage wallets.
This is a very bullish sign overall. For these holders, the recent volatility is business as usual. They have strong hands. What we’re seeing is the weak hands folding.
Don’t be a weak hand. Instead, focus on user adoption… not daily price action. Because adoption will be the true measure of bitcoin’s success.
Meanwhile, consider using this opportunity to buy bitcoin or judiciously add to your bitcoin position where appropriate.
The Biggest Tech Trend Since Bitcoin
Just buying bitcoin at today’s prices and holding it could put you in the position to potentially 10x your money over the coming years.
But Teeka has found an opportunity that could potentially help you hit your Freedom Number this year. (That’s the amount of money you need to achieve the life you always wanted.)
It’s the hottest investment trend in the world right now: The metaverse.
The metaverse is a digital world where we’ll live, work, play, and interact in innovative and previously unimaginable ways. And Teeka says it’s the biggest tech revolution he’s seen since he began recommending bitcoin in 2016.
Morgan Stanley projects the metaverse will have an $8 trillion addressable market by 2030. In other words, that’s about $1 trillion per year over the next 8 years.
That’s nearly 10x the opportunity we saw during the tech boom of the 1990s. And like the internet’s first phase, the metaverse has unlocked an IPO frenzy.
Last year saw the biggest IPO boom in history (even bigger than the dot-com boom). In 2022, Teeka believes history will be made again.
Tomorrow at 8 p.m. ET, he’ll host his first livestream of the year to show you how the smartest and most connected investors on the planet will profit from the metaverse IPO boom.
It’s a special approach Teeka believes can allow you to target one IPO… And potentially reach your Freedom Number in 2022.
So ignore the recent volatility in bitcoin. We’ve seen it before. And we’ll see it again.
Instead, sign up for tomorrow night’s big event… and let Teeka show you how the metaverse will take crypto to the next level.
Editorial Director, Palm Beach Daily
P.S. As a bonus for attending the big event, Teeka’s prepared a full-blown report with the name of his top metaverse play… and he’s giving it away to VIP pass holders for free.
All you have to do is reserve your spot and show up for the online event.
No marketing BS, no strings attached, nothing. Plus, his past free picks have returned 19x average peak gains… so you’ve truly got nothing to lose.