“Cryptocurrency is a solution searching for a problem.”
I can’t tell you how many times I’ve heard this criticism of crypto and its underlying blockchain technology since I started recommending them in 2016.
The detractors are saying there is no immediate need for this tech. But back in 1998, a small startup called Confinity faced similar criticism…
Changing the Game
Most of you probably remember the Palm Pilot. It was a personal digital assistant (PDA). You could use it to store contact information and calendar events.
The Palm Pilot was an immensely popular handheld device. More than five million were sold during the 1990s. Some consider the Palm Pilot the precursor to the smartphone.
Its greatest legacy, though, may be Confinity.
Confinity started in 1998 as a software and cryptography company. It had just invented a cool new way to move money using the Palm Pilot. Nothing like it had existed before.
It was revolutionary… And it was an utter failure.
Confinity had created a brilliant technology looking to solve a problem that didn’t exist yet. At the time, nobody cared about transferring money using mobile devices.
Confinity would’ve failed had it not stumbled on another emerging market: online auctions.
Before 1995, the online auction market didn’t exist. It was a brand-new business facing brand-new problems. In the mid-90s, buyers and sellers were transacting millions of dollars in online deals.
But there was a problem…
Buyers didn’t trust giving sellers their financial information… And sellers weren’t big enough to qualify for credit card processing. So, they couldn’t collect online payments.
The whole online auction business model relied on personal checks and money orders delivered via U.S. mail. It took weeks for sellers to receive their money and for buyers to receive their products. As inefficient as this new online market was, it was still booming.
The industry grew from nothing to over $1 trillion in transaction volume in 2001. The leader in this new space was a small two-person startup called eBay.
Seeing this new opportunity, Confinity pivoted. The company abandoned its efforts to create mobile payments software for Palm Pilot. Instead, it turned its efforts to online auctions.
Confinity created software that made buying and selling online much easier. Buyers could link their checking account to Confinity without sellers seeing their account information.
And sellers too small to qualify for credit card processing could get paid immediately. Confinity’s new service exploded. It eventually processed 40% of eBay’s volume.
Today, Confinity is worth nearly $227 billion. You know it by its “new” name – PayPal.
New Solutions Will Lead to Mass Adoption
And PayPal hasn’t stopped innovating…
Just last month, the company announced a new service that allows its 346 million customers to buy, hold, and sell crypto directly from their PayPal accounts.
Here’s why PayPal’s entrance into the crypto market will be bigger than its entry into the online auction space…
We’re seeing increased adoption of crypto assets by traditional finance companies… institutions like hedge funds and family offices… and small retail investors.
But as an early-stage technology, crypto is harder to buy, sell, and trade than traditional financial products.
PayPal’s solution makes buying crypto as simple as buying stocks. With one click, you can now own a portfolio of crypto assets.
Just imagine what happens when nearly 350 million new people get easy access to bitcoin… The floodgates will open.
And once investors get a taste of the gains they can make in bitcoin… they’ll eventually start buying smaller altcoins.
These smaller coins back blockchain projects creating innovative solutions to some of the world’s biggest problems (from COVID-19 tracing to tracking medical supplies). And they have even greater potential upside than bitcoin.
So what’s good for bitcoin is good for the overall crypto ecosystem.
My Prediction Has Come True
The discussion on whether bitcoin will survive or not is now moot. It’s reached escape velocity. And it’s taken off based on reasons I’ve predicted since 2016: It’s one of the most versatile and innovative financial assets in the world.
Not only can you use bitcoin as a store of value like gold… You can also use it to make payments like cash. And with solutions from PayPal and others on the way, crypto will be as easy to transact as stocks or fiat currencies.
But don’t just take my word for it…
Legendary hedge fund billionaire Stanley Druckenmiller recently said, “Bitcoin could be an asset class that has a lot of attraction as a store of value to both millennials and the new West Coast money.”
And startup payroll company Deel recently launched a platform allowing remote workers to withdraw their paychecks in crypto.
Institutions are coming. Fidelity has built an entire digital-assets business. Major hedge funds are backing blockchain projects… including Renaissance, Susquehanna, and Jump Capital. If you think all these big money guys are wrong… I need you to think again.
These people have dedicated their entire adult lives to finding life-changing investments. And they are all plowing money into bitcoin. You’ll be making a financial mistake you can’t come back from if you ignore that.
Opportunities like getting into crypto early rarely emerge. Maybe once every 25 years you’ll get a chance to make a fortune by being early on a massive trend. This is one of those times.
Retail and tech companies are also branching into crypto. Along with PayPal, popular apps Square and Robinhood have added crypto services for their millions of clients. We’ll soon see more.
Friends, I want you to ask yourself a simple question: Do you think more or less people will hold bitcoin in 10 years?
If you think more and understand the law of supply and demand – then it’s a no-brainer: The price will go up… a lot.
In fact, it’s already the best-performing asset of 2020. Since it’s March lows, it’s up 354%.
Hear me when I tell you this: Bitcoin is the most innovative financial product of our lifetimes. If it continues to grow at the pace it has… it’ll be one of the most valuable assets in the world.
But the window of opportunity is rapidly closing. Once it passes its old highs, it’ll be too late… So position yourself now and buy some bitcoin today.
Let the Game Come to You!
Editor, Palm Beach Daily
P.S. As I mentioned above, the biggest beneficiaries of bitcoin’s rise will be the altcoins working on innovative blockchain projects. And I’ve uncovered six tiny cryptos working on big solutions that also contain a special quirk in their code.
In the past, coins with this quirk have delivered an average peak gain of about 29,465%… so a $1,000 investment in each could theoretically become $886,950…
Even a tiny $250 investment in each could potentially grow to $221,738.
Now, I can’t promise you’ll see gains like this… But I want you to think about what it means for your life if you were able to make six investments – risk only $250 in each – and make life-changing returns.
In my opinion, these six coins are your next best shot at getting the life you want right now… You can click here to watch my entire presentation…