If you pay attention to mainstream media and how crypto is presented to the public, you’ll notice that they pretty much only cover drama, controversy, fear, bad news, etc. It’s not that they hate crypto per se, because they do this with pretty much every subject to get more views and sell ads. If you want to know what’s going on you have to see through all the surface froth and become aware of the underlying blue whale of truth that’s slowly rising to the surface.
An important chart that tells the real story about crypto is this one, that shows the LOWEST value of Bitcoin each year. The low point reflects the bottom of the market, where all the fearful people are selling, and all the smart investors who understand what’s going on are buying. What we see is this:
Where’s all those crashes where the media pronounced Bitcoin dead? This simple graph filters out the noise and here we see the truth about cryptocurrency. In fact, there is no crash at all, for most Bitcoin owners.
Like other great, world-changing technologies, blockchain and cryptocurrencies are here to stay, and will continue to rise until they become the standard accepted way of storing value digitally.
So, beneath all the squawking and confusion, here’s a collection of news stories that give us little snippets of truth about where this is all going:
“The Great Wealth Transfer” has Started
As described in this recent article, Millenials are expected to inherit $30 trillion dollars, and as a group, they’re very pro-crypto. If just 1% of that wealth is invested into cryptocurrencies, say $300 billion, it will have an effect on the market cap 10-20 times greater than the amount invested, pushing it into the trillions.
$500 Trillion+ in Value Coming - Former CEO of Nasdaq
Quoted: “100% of the stocks and bonds trading on Wall Street today COULD be tokenized, and in five years, 100% of the stocks and bonds on Wall Street WILL be tokenized” – Robert Greifeld (Former Chairman & CEO of Nasdaq).
It makes sense. Wall Street is big but it’s still competing on a global market. By tokenizing stocks, bonds, equities, etc, they can sell them to anyone worldwide with a cell phone, expanding their markets. There’s a race on now to do this first, and within a few years, will change the way the world invests.
Forbes - JP Morgan Crypto Hiring Spree
As reported in Forbes, JP Morgan is on hiring people like crazy for blockchain-related jobs, and has already announced their own cryptocurrency to compete with Ripple for cross-border transfers. This is important because for years, the company’s CEO, Jamie Dimon bad-mouthed Bitcoin very publicly. If you can’t beat ‘em, join em! This is important because it speaks to the utility, the mainstream-ization, and most importantly, the inevitability of blockchain technology becoming part of the world’s banking industry.
Mitsubishi UFJ Bank announces own Crypto
Another bank, Mitsubish UFJ, one of the biggest banks in Japan, announced it is creating its own cryptocurrency simply called “Coin.”
IMF and World Bank
Yesterday it was reported that the World Bank and International Monetary Fund are together launching a private blockchain and “quasi” cryptocurrency.
This is after the World Bank Group’s Chief said that blockchain has huge potential after they launched a blockchain-based bond last August: https://bitcoinist.com/world-bank-group-chief-says-blockchain-has-huge-potential-after-bond-success
…and the General Manager of the IMF warned that cryptocurrencies could be very disruptive to the global financial markets. How could they do that if they weren’t going to get huge?
This is after she praised cryptocurrencies last April 2018 and listed their many benefits: https://blogs.imf.org/2018/04/16/an-even-handed-approach-to-crypto-assets
Facebook is Making a Crypto
It’s been widely reported that they’re making a stablecoin cryptocurrency to be used within Whatsapp, Messenger, and Instagram. This is great for crypto in that it helps to normalize the use of blockchain as a universally trusted way to store value.
April 8 2019: Nathaniel Popper, a writer for the New York Times, tweeted that Facebook is seeking $1 billion investors to back it: https://twitter.com/nathanielpopper/status/1115331482384388098
PayPal and the Crypto Scene
PayPal director Wences Cesares reportely said recently that Bitcoin could rise up to $1 million within 5-10 years. https://www.ccn.com/one-bitcoin-could-exceed-1-million-in-7-10-years-paypal-director
Maybe that’s why PayPal is experimenting with making their own cryptocurrency?
..and filing patents?
Twitter and Square:
CEO Jack Dorsey has been supportive of Bitcoin for a while, since their Square app takes Bitcoin payments. Now he’s made it public that he’s hiring some blockchain engineers and even paying them in Bitcoin.
March 21, 2019: https://bitcoinist.com/bitcoin-jack-dorsey-square-crypto
Despite the “crackdown” on Bitcoin and cryptocurrencies, they remain very strong in China, and it was reported that Chinese companies have more blockchain patents than any other country.
Bitcoin’s Lightning Network Expanding Rapidly
Lightning Network capacity doubled last month, hits $5 million in funded channels. This is important because with further improvements it can eventually lead to a much improved Bitcoin that will avoid the over-filled blocks issue during the last bull run.
...and 8000+ nodes too:
April 16, 2019: https://bitcoinist.com/bitcoin-lightning-network-8k-nodes/
Rand Corporation Study: No cryptocurrency is viable for terrorist use.
What? You may have heard that Bitcoin was perfect for terrorists and other bad actors, since this is one of the primary misconceptions often spewn by mainstream media. As it turns out, Bitcoin is terrible for terrorists because everything on the ledger is public and can’t be erased. So what dark money do terrorists favor? The U.S. dollar. Portable, anonymous, and backed by nothing but faith, the old greenback still beats Bitcoin as the favorite store of value by the Dr Evils of the world.
Giant travel company to start accepting cryptocurrencies
One of the world’s biggest travel companies, Corporate Travel, is going to start taking cryptocurrencies. In an official announcement, they stated that they’ve witnessed an increase in cryptocurrency interest among their wealthy customers and exponential growth in blockchain.
One of the good things about being a cryptocurrency CEO focused on mass adoption, is that people tell me stuff. They know I’m busy and they have little time to make the impression that I should take time to interact with them. So I hear things… lots of rumours all reinforcing the same idea. All these whispers, and the collection of news stories above, show that Wall Street investors are preparing to dump tens or hundreds of billions of dollars into blockchain-based cryptocurrencies, creating trillions of dollars in what I refer to as “branded money.”
One of the biggest obstacles is that crypto isn’t user-friendly enough, and Divi’s focus on that has me continuing to believe that we’re positioned to become one of the biggest names in tech.