How Bitcoin Will Bankrupt The World

As you may have figured out by now, I am a huge fan of Bitcoin and all things cryptocurrency related. Digital currencies and blockchain technology have already made a significant impact upon the world, despite low adoption rates and the industry’s niche status.

Unregulated, uncontrollable cryptocurrencies have already begun to liberate people from the oppressive reign of central banks that continue to mass produce fiat currency – driving down interest rates while weakening the current supply of cash due to inflation, year after year.

Bitcoin, the very first crypto created way back in 2009, was dreamed up by Satoshi Nakamoto, an unidentified person (or people) responsible for inventing digital currencies. It was Satoshi’s intent to bring true financial control back to the people by giving them a place to securely store their funds without the oversight of a third party.

While the whole concept certainly sounds democratic, I’m afraid that Bitcoin may betray it’s originally intended purpose.

Instead of uniting the world and returning power to the masses, it might divide the population of planet earth even further – but not by race, religion, or creed.

Rather, the world will be split up into two distinct groups:

Those who bought Bitcoin early, and those who didn’t.

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Now, I know what you’re thinking:

“I didn’t buy Bitcoin when it was still new, does that mean I’m one of those people who missed out?”

While plenty of early Bitcoin adopters have already become millionaires, I believe that anyone who buys some of it right now is still worthy of that “early adopter” status. 

In the grand scheme of things, Bitcoin (and cryptocurrency in general) is still extremely young and immature. It’s only been around for about 9 years, and really hasn’t gotten any serious traction with investors until 2017.

So yes, while you may have missed out on Bitcoin when it was only $10, the good news is that we are still at the very beginning of crypto’s journey. Those who invest in digital currencies today are absolute pioneers at the vanguard of a new asset class, not someone who’s too late to the party.

I’ve said it time and time again, but it bears repeating that Wall Street has already set its sights on crypto. Major firms and exchanges are preparing financial instruments that will allow institutional investors to enter the market en masse – and when they do it will be nothing short of extraordinary.

Billions of dollars will surge into digital currencies (Bitcoin specifically), skyrocketing prices to heights that will immediately establish an elite class of early adopters – investors who managed to get in before the flood started.

In the years that follow, money will continue to pour in. Bitcoin will be driven higher and higher in price, widening the gap between the “Bitcoin holders” and the ones who missed out.

This economic gap widening will be the first nail in the coffin of the middle class. Eventually, it will be erased completely, possibly in less than a decade, as digital currencies climb in value more and more.

The Bitcoin held by early adopters will continue to appreciate, while those who stubbornly refused to buy will watch their fiat currency stagnate.

Over time, control over business, politics, and land will shift towards crypto holders – the ones who watched their investment grow into a fortune sizable enough to be passed down to later generations. Thousands of new Rockefeller-like dynasties will be created, grabbing the reigns from the old guard over time.

The ultra-elite will hoard the digital riches that crypto has to offer, leaving everyone else with what will amount to table-scraps.

If you’ve ever been to a developing country, you’ve probably seen the situation I’ve just described, but on a smaller scale – lavish mansions occupying vast tracts of land just blocks down the street from slums filled with penniless beggars.

Bitcoin will single-handedly usher in a new age of “haves” and “have-nots”, but on a global scale like we haven’t seen since medieval times. The wealth gap is already increasing in America and other western nations, even without the help of cryptocurrency.

Just imagine what will happen when Wall Street enters digital currency, turning ordinary people all over the world into “crypto aristocrats”. 

While I do think the upcoming paradigm-shift will be both impressive and terrible to behold, it will not be perfect.

Yes, there will be bumps along the road. Yes, there is going to be more to it than just running out and buying a bunch of Bitcoin. Navigating the market’s ups and downs will take cunning, skill, and more than anything else – bravery.

But the investors that take their first courageous steps into crypto will also be crossing a harsh dividing line – one that separates those who bought Bitcoin early, and those who will be condemned to watching from the outside while the rich continue to get richer.

I know what side of the fence I’m going to be on.

What about you?

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