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The cryptocurrencies ecosystem’s main prophet, Tom Lee of Fundstrat Global Advisors, outlines four reasons why one should be long on Bitcoin. SCROLL DOWN FOR MORE
They are: a growing trust in digital everything, the awakening millennial boom, crypto recognized as a genuine asset, and Wall Street’s inevitable entry into the space.
Lee has been astonishingly accurate in his predictions related to bitcoin.
One has to look no further than this shocking survey finding: 92% of millennials do not trust banks.
That alone makes cryptocurrencies the "in" thing for the long run.
From Bitcoin.com News:
Mr. Lee’s thesis begins by positing how bitcoin is a head-scratcher for legacy finance. It was started with zero dollars invested, no venture capital, no board. It grew without going public. Even his own clients disagree with any emphasis on cryptocurrency as an investment strategy.
Nevertheless, modern equities have gone digital in significant ways. The top five tech stocks in the S&P 500, for example, are all digital. And what the digitization of economies allows is for decentralization of money. Centralization is increasingly looked upon as a vulnerability, as when the Malaysian central bank mistakenly wired 50 million USD to a hacker.
Furthermore, monetary systems are built on trusting governments, and that trust has steadily been eroding both in the United States and around the world. In fact, for Americans, trust in government is at a fifty-year low. In places like Brazil, Argentina, Greece, trust has bottomed out, and right alongside a blossoming of crypto interest. These simple facts would seem to not bode well for the future of fiat.
- Aaron Goldstein, Gambling911.com
