Future Money

Bitcoin could continue to explode another 300% in 2021 following a parabolic 2020. Global advisor Fundstrat's Tom Lee says bitcoin has the possibility of doing even better in 2021 than 2020 going above 300% this year. Bitcoin reached 300% growth in 2020. How could it be possible that it could do even better this year? Another 300% surge in 2021 would put bitcoin at $116,000 per coin. Bitcoin will reach mainstream consumers very soon. On the 12 anniversary of it being created it has already hit a high of $34,800. With technological advances such as Apple pay, google pay and other services by the big tech companies, when will the day come where we can just wave our phones for every transaction and have it logged into the blockchain. Blockchain technologies will not just be used for exchanging goods and services but for other use cases as well. Perhaps even honest and fair elections. Bitcoin might very well be our future. Sure there has been a stigma of using it for illegal activities but with government agencies contracting crypto analytic firms this might soon diminish. Chamath Palihapitiya said to invest 1% of your net worth back in 2017. But with all this new information 3-4 years later why not invest more? Bumping that up to 2% - 3% will look quite handsomely in anyone’s portfolio a year from now. Definitely don’t dump your entire net worth into it as anything is high risk if you put all your eggs in one basket. But 1% - 3% is a responsible amount. Bitcoin is highly volatile so don’t expect stable parabolic returns within your first few days. Always take into account the long term upside rather than having the gambling mindset in the short term. With any investment. Patience is a must.