Bitcoin is going parabolic.
The first round of COVID stimulus relief checks that went out in April 2020 were $1,200 for individuals.
That same $1,200 check would now be worth $11,200 if it was used to buy Bitcoin.
The world’s largest cryptocurrency has topped $60,000 as of writing.
It feels like the sky is the limit.
We could even be in a Bitcoin Supercycle where we don’t see the usual bearish pullbacks in the later part of the crypto market cycle.
Increased stimulus and an unflinching commitment to quantitative easing has only strengthened Bitcoin’s use case as a store of value.
The world is paying attention to Bitcoin.
Institutional buying has been an X factor on top of the global pandemic and economic relief.
Public companies the likes of MicroStrategy, Square, and Tesla have led the charge, putting Bitcoin on their balance sheets.
Even traditionally conservative players such as MassMutual and New York Life have either direct or indirect exposure to Bitcoin.
In April 2020, individuals with adjusted gross income below $75,000 and couples earning below $150,000 qualified for stimulus payments.
Qualifications have since changed, as has the US President, but the stimulus is still coming.
Should you have invested that original stimulus check in Bitcoin?
The answer is undeniably yes.
(…if you were paying attention to cryptocurrency)
It was difficult to see Bitcoin going as parabolic as it has but, long term, the writing was on the walls since Satoshi Nakamoto introduced it.
As crazy as it may sound, we are still in the early adoption phase for Bitcoin and cryptocurrencies.
Mainstream institutions are warming up to Bitcoin but plenty are still sitting on the sidelines. More are coming.
…Institutions the likes of Oracle, Amazon, Apple, or MasterCard.
Central banks will also buy Bitcoin.
We will hit a point where Bitcoin must be viewed at the very least as a hedge against inflation if not also digital gold and the best use case for store of value and energy among current investable assets.
Bitcoin is primed to continue on a parabolic path toward unprecedented prices.
The recent $1 trillion market cap is just the beginning.
Hindsight is 20/20 but it will be fun to watch what that same $1,200 stimulus payment is worth one year from now, five years, and beyond.