21,000,000
Bitcoin is a decentralized digital currency that was created by Satoshi Nakamoto. To this day, the identity of Satoshi is a mystery.
There are 21 million Bitcoin in a world of 7.6 billion people.
Let’s put that into perspective. There are 51 million millionaires in the world - not every millionaire will be able to own a bitcoin.
I’m going to bring in my friend Lily to help me out with this explanation.
Why is Bitcoin important?
Bitcoin banks the unbanked.
1.7 billion adults in the world are unbanked. Giving someone access to buy / sell, send / receive, & store Bitcoin is the easiest way to bank the unbanked. Bitcoin can technically be accessed by anyone regardless of what governments, banks, or large corporations say. Bitcoin is hope, liberty, and financial inclusivity for so many.
Bitcoin is a hedge against inflation.
If money supply increases faster than real output, inflation will occur. Most government’s have the ability to increase their money supply with ease. Bitcoin’s money supply cannot increase because there will only ever be 21,000,000 coins.
Although the US government currently measures annual inflation at 5%, we are actually experiencing annual inflation percentages that are much higher. I explained this in The Red Wedding.
If you’re living in a country on the chart below, you’re losing a MASSIVE % of your earnings to inflation every year. Storing your wealth in Bitcoin solves this problem!
Bitcoin is the best performing asset of the decade…by a long haul.
Not only has Bitcoin’s price been increasing, but the number of users has as well. It took the internet 7.5 years to reach 1 billion users. Bitcoin will do the same in almost half the time.
The chart below shows the % returns from different asset classes over the last 10 years.
Bitcoin is programmable technology.
Example: Strike CEO Jack Mallers discusses the Bitcoin tipping option that Twitter recently rolled out to the public.
Although there is a lot to say, your attention span will only last so long. If you want to dive deeper into the history of currency & bitcoin I highly recommend this documentary below.
I also recommend following these Twitter accounts.
If you have any questions feel free to comment below. God speed.
-MELINK