Tuur Demeester Says Massive Bitcoin Rally Will Set Our Hair on Fire As Crypto Leaders Predict Future of BTC

Monday 5 July 2020, 5:34 PM AEST - 3 weeks ago

A group of crypto influencers is offering their take on Bitcoins future, as well as the future of the global macro economy.

In a new episode of What Bitcoin Did podcast, Nic Carter, Tuur Demeester, Robert Breedlove and Alex Leishman agree that a widespread economic shift is brewing around the world, which will ultimately benefit BTC.

Carter, a partner at Castle Island Ventures, says he thinks a cascade of currency failures is coming over the next two years.

What I think is likely to happen in the next 24 months is a wave of sovereign currency failures similar to the Asian financial crisis in the late 90s, similar to the post Soviet Union, when a lot of sovereign currencies failed. You see it at times of dollar strength. You see it at times of global dislocation. Its regional. Its contagious.

Weve begun to see some distress in some sovereign currencies when theres a lot of debt. The world is very indebted in emerging markets and unfortunately, I think its going to immiserate tens or hundreds of millions of people. And for some of those people, they will be able to use crypto financial rails to exit their sovereign local currency and they can go to Bitcoin. They can go to the US dollar. There are stablecoins on these rails. So I think this is going to be a big story for the next year.

Adamant Capital founder Tuur Demeester says increasing debt will cripple economies five to ten years in the future. As for Bitcoin, he says traders need to prepare for another massive rally that will set everyones hair on fire.

I think Bitcoin is a self-directed insurance policy. Theres a unique opportunity to get some exposure to that and theres so much said about crypto and to me, the essence is just buy a little bit, start with that and then make a plan about storage, how youre going to store it. And also think ahead, like are you going to diversify that storage.

The first time you buy, you store it in one place, but then I think its a good idea to think about storing it in different places. Because there is no FDIC. Its not insured. If you lose your keys or if a company goes bust, its game over and you have to re-buy your Bitcoin. So think about that.

Also, make a plan for the price. Bitcoin prices, Bitcoin rallies are nothing like youve ever seen. Prices go up ...

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