Two reasons to buy bitcoin today
From Teeka Tiwari, Editor, Palm Beach Confidential:
Earlier this year, I got together with some of my contacts in New York at one of the biggest cryptocurrency conferences in the world.
There, I was invited to a private event hosted by Mike Novogratz—a former partner at Goldman Sachs. Novogratz is now the manager of the biggest crypto investment firm in the world. And he was one of the first Wall Street guys to realize the importance of cryptos.
At his party, I met a lot of young cryptocurrency entrepreneurs.
But what intrigued me the most was the number of money managers from venture capital firms, hedge funds, and other big institutions in attendance. They were all excited about investing in the cryptocurrency market.
In all, over 1,700 people attended this conference. And most of them were from hedge funds, venture capital firms, family offices, and endowment funds.
Normally, after an industry drops dramatically (the way the crypto market had), investors flee—especially the professionals who are involved in
But I’m seeing major, top-tier venture capital firms step into this space for the first time. These guys missed the big gains from 2014–2017. But they’re trying to make up for lost time and are now making lots of investments.
Last year, according to investment analytical firm PitchBook Data, there were 377 deals done in the blockchain space. So far this year, 870 deals have been completed.
That means we’ve already seen more than twice as many deals completed so far this year than all of last year.
This is going to lead to explosive growth in crypto asset values… the same way big venture capital investment led to explosive growth in internet and technology stocks.
Two Reasons Why You Should Own Bitcoin Now
Most people today are confused by cryptocurrencies. I understand that.
Less than 1% of people on this planet actually own a significant amount of crypto… and most cryptos have only been around for less than a decade.
That’s why I asked my team to put together this special report for you.
We wanted to get it into your hands so you can prepare for the emergency rebroadcast of my live cryptocurrency event with media personality Glenn Beck.
In that presentation, I show you how it’s possible to still make life-changing gains in cryptocurrencies.
I wrote this report because I want you to be ahead of the curve.
So I’m going to share one of my recommendations with you now…
And that recommendation is bitcoin (BTC).
You might be wondering why bitcoin is such a big deal. After all, it’s the oldest and most popular cryptocurrency in the world. Everyone has heard of it. And everyone knows that after rocketing to $20,000 in 2017, it’s down over 60%.
But there are two reasons why you need to own some bitcoin… I’ll explain them now.
Reason No. 1: Bitcoin is the reserve currency of the cryptocurrency world.
Bitcoin is analogous to the U.S. dollar.
All national fiat currencies (yen, euros, pesos, etc.) are measured against the U.S. dollar, which makes the U.S. dollar the world’s most “in-demand” currency.
All world cryptocurrencies (ether, Ripple, Monero, etc.) are priced in bitcoin—making bitcoin the world’s most “in-demand” cryptocurrency.
You will need bitcoin to buy
This reserve status means it’s the primary currency all crypto exchanges must deal in. We can see proof of this because the first crypto-trading products that Wall Street is embracing are all bitcoin-based.
The Chicago Board Options Exchange (CBOE) has already launched a bitcoin futures contract. Investment firm VanEck and crypto startup SolidX are launching a bitcoin exchange-traded fund (ETF). Fidelity Investments, TD Ameritrade, Goldman Sachs, Citigroup, and Morgan Stanley are launching bitcoin-based trading products as well.
So bitcoin will continue to benefit from the mainstream adoption of crypto assets.
Reason No. 2: Faster transaction times will push bitcoin prices even higher.
One of the biggest problems facing bitcoin is its ability to scale. Scaling is the ability to transact a large
As I said, bitcoin is the most popular crypto in the world. There are thousands of bitcoin transactions per day on the bitcoin network (called a blockchain). All that traffic slows down the network and drives up costs.
However, a new solution is coming soon. It’s called the Lightning Network.
I won’t bore you with all the technical details.
The key takeaway is that the Lightning Network can handle thousands of transactions per second.
That’s up from bitcoin’s current rate of three transactions per second.
It’s the equivalent of going from a horse-and-buggy to a Bugatti Veyron—one of the world’s fastest cars.
On top of that, the Lightning Network will lower usage costs from an average of $1 per transaction to one-millionth of a penny per transaction.
It’s an old technology axiom: Make something cheaper and faster and watch its adoption skyrocket. We’ve seen this same phenomenon with personal computers, phones, music players, TVs, and VCRs.
The Lightning Network will cause an explosion of bitcoin usage because it makes bitcoin cheap enough and fast enough for everyday use in transactions.
Bitcoin will cost one-millionth of a penny to use. Credit card fees can cost 3% of a transaction. Do the math… Merchants will love it.
So how do you take advantage of this?
What to Do Next
My team has put together this short write-up that will show you what cryptocurrencies are, how they work, and how to buy your first bitcoin.
It’s a great primer to help you understand and get started with this new asset class.
But of course, the main event is the emergency rebroadcast of my live cryptocurrency event with media personality Glenn Beck. During the event, you’ll hear my two other recommendations, plus get a breakdown of my crypto investment strategy.
Let the Game Come to You!
To watch the full rebroadcast of Teeka’s cryptocurrency event with Glenn Beck—and see all three of his recommendations for free—click here.
But don’t delay. We’re only making it available until Saturday at midnight. After that, it may be gone for good.