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Blockchaining 2022, June 16 2022, Munich

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Just as Silicon Valley reaped the rewards of previously-inaccessible technology, so a reformation of capitalism could open up previously-closed opportunities.

What This Means for Investors

My thesis is predicated on the belief that market central planners and regulators cannot undo what has already happened with bitcoin and blockchain. While my general position in bitcoin may come under some question as time goes on, my bullish thesis remains intact. In other words, those long bitcoin with a short term time horizon are likely to be disappointed, but those who buy at the point of maximum pessimism will be rewarded.

Past the bitcoin-specific calls of its futures market positioning, I remain bullish on the digital currency and see it in its current state as a potentially important factor in the technology trend we all have long known about but have been paying little attention to. I don’t know the future price of bitcoin in 2023. However, I suspect bitcoin will move up with the emerging digital currencies, primarily through future innovation and growth opportunities which can only come about through the adoption of digital currencies.

I believe the bitcoin futures market has taken a number of meaningful steps in 2021 to help eliminate some of the damage that has been done to bitcoin’s market leadership by fiat authorities. For instance, I believe the market operators have reduced the volatility in the futures market significantly over the past six months and reduced the opportunity for nefarious actors to manipulate prices with front running.

Thus, I believe bitcoin will return to a position of prominence on Wall Street, with futures trading making it easier to buy and sell bitcoin.

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