Bitcoin is facilitating a movement of wealth and power, not a change of wealth and power.
The future Rothchilds, Goldman-Sachs, Grosvenorās are Bitcoin whales right now. If all 8 billion people wanted L1 Bitcoin, it would take nearly 40 years for those transactions to clear the mempool, so most people will never hold Bitcoin and will have to ātrustā Bitcoin L1 holders to issue them tokens (such as ETFs) or custodial Lightning.
Itās the same game, with new players.
I'm arguing that it'll mostly be the same players because they have enough other wealth (including hard assets, not just fiat), that they can FOMO in, even at atrocious prices.
Why would a Rothschild not buy Bitcoin at ā¬1 million? That's peanuts, when you're a zillionaire.
Agreed, however Bitcoin is a disruptive technology and not everybody is able to accept it.
I think some old guard will jump on the Bitcoin wagon, but most wonāt.
Also, Bitcoin will not go up for ever. 21M coins at $20M nearly equals the entire wealth of the world ($454T)
This halving will be a full NGU event, I donāt believe the next halving will be a full NGU event.
Time is running out, despite the narrative of we are still early.
Once the price settles, probably around $5M a coin, then it will start becoming adopted as a currency, not just an asset.
