HyperBitcoinization Coming, Says Adam Back, Do you Agree?

[franky1]

I think that Bitcoin's price will be too high for a normal person to buy it. Only rich investors would be able to purchase it if its price crosses over $100k, but still poor people can still buy some Satoshi's and that's enough for them.

a tonne of gold has been out of affordability of many for centuries. no one cries that they should have a tonne of gold or deserve to own a tonne of gold.

people just treat it the norm that they buy gold in ounces not tonnes

[SamReomo]

I think that Bitcoin's price will be too high for a normal person to buy it. Only rich investors would be able to purchase it if its price crosses over $100k, but still poor people can still buy some Satoshi's and that's enough for them.

a tonne of gold has been out of affordability of many for centuries. no one cries that they should have a tonne of gold or deserve to own a tonne of gold.

people just treat it the norm that they buy gold in ounces not tonnes

Oh my buddy! You have explained it very well. That's absolutely the truth even centuries ago people give up on the idea of buying ton of gold and still they are doing their best with ounces of gold and they are more than happy in having that much. Same will be the case with Bitcoin when it reaches the levels where ordinary people might not be able to own it, but by owning Satoshi's they will feel that they own a chunk of Bitcoin!

[Learn Bitcoin]

He Tweeted, and I quote -

because 10mil people trying to buy 1  BTC over a few years would push the price out of reach. And many current hodlers are not selling. Eg very few of the recent whole coiners would re-sell, probably moving up to their next target for extra bitcoin, most are trying to buy more!

Good to know that holders keep holding their Bitcoin. It's not because they just wanted to be the holder and hold Bitcoin. Of course, most are waiting for a good time to make a profit. Nobody is here to hold the coins forever. Let's say someone bought Bitcoin at 60K and still holding. Do you think he will still hold it forever? For sure, he will sell when the price reaches his target price, and they will wait for a correction and buy back again.

Everybody is waiting for a good time so they can make some profits. A company like Microstrategy is going to sell its holdings at some point. Most are trying to buy more because the next halving is very soon, and they might not be able to find BTC at 26K again before the halving.

[BitDane]

Bitcoin body language have pointed to that direction lately with the hyke in fees and varius network congestions, it shows that there are multiple and high-traffic wallet activities regardless of whether the Bitcoin market is either in a bull run or bear market.

But the recent Bitcoin congestion and transaction fee surge is not caused by the demand in Bitcoin but rather caused by the NFT craze created by BRC20.  I also think that Bitcoin will be going in that direction but the example you have given is proposing the other way.

I am personally anticipating a possible price increase.

There should be, I am also anticipating that Bitcoin will increase in the coming months.  I suppose the hype of the Bitcoin halving will occur soon, the catalyst for bull market is on its way, so it isn't news that the price of Bitcoin will surge.

He Tweeted, and I quote -

because 10mil people trying to buy 1  BTC over a few years would push the price out of reach. And many current hodlers are not selling. Eg very few of the recent whole coiners would re-sell, probably moving up to their next target for extra bitcoin, most are trying to buy more!

Good to see that holders keep holding their Bitcoin. It's not because they just wanted to be the holder and hold Bitcoin. Of course, most are waiting for a good time to make a profit. Nobody is here to hold the coins forever. Let's say someone bought Bitcoin at 60K and still holding. Do you think he will still hold it forever? For sure, he will sell when the price reaches his target price, and they will wait for a correction and buy back again.

Everybody is waiting for a good time so they can make some profits. A company like Microstrategy is going to sell its holdings at some point. Most are trying to buy more because the next halving is very soon, and they might not be able to find BTC at 26K again before the halving.

Most of the holders knows that Bitcoin has the history of breaking its ATH after the halving event is done.  So it is obvious that these holders wanted to take the best possible outcome of their investment and Bitcoin holding so they will continue to hodl until Bitcoin market started the series of record breaking ATH as the Bitcoin bull market peak.

[Findingnemo]

What do you make of this information?
For me, I think it makes me more bullish on Bitcoin than ever before...

this makes me happy.

this means about 1 million people own their own key. we can track it if their Bitcoin is put in exchange, right?

~ Not your key, not your BTC ~

Not really, because one can hold 1 million bitcoin in 1 million bitcoin addresses so increase in the number of address can't be really considered as a sign of adoption happening from new people and I doubt that 1 million people have more than 1 BTC in their wallet, its still under control of few individuals and remaining is just as portions among all the small investors. But that is the real adoption cause we know its only 21 million bitcoin and there are 7 billion people all around the world so lesser the amount of bitcoin and more number of bitcoin address denotes the direct relativity towards actual adoption.

[Learn Bitcoin]

Most of the holders knows that Bitcoin has the history of breaking its ATH after the halving event is done. So it is obvious that these holders wanted to take the best possible outcome of their investment and Bitcoin holding so they will continue to hodl until Bitcoin market started the series of record breaking ATH as the Bitcoin bull market peak.

Back in the old days, An average Bitcoin user did not know that the price would increase after the halving. So, a few users hold Bitcoin in the hope of making a profit after the halving. But look at today's community. Predictably, Bitcoin Price will increase after the halving. So, it could be different this time. Almost all holders are waiting for the next ATH and waiting for the opportunity to take a profit.

People will start making a profit even before the ATH, so reaching the next ATH wouldn't be easy. This time it may take longer time than usual time. I saw topics like people wanting to invest in Bitcoin by taking loans, selling wife's jewelry etc. This shows how desperate people are to profit after the halving event.