BlackRock ETF sparks US Bitcoin buying; research advises to invest.

Bitcoin (BTC) will absorb all future prosperity gains and leave behind those who are not exposed to it, according to a new prediction.

In a Twitter thread on July 8, investor Luke Broyles outlined a bold vision of Bitcoin becoming the world’s primary currency.

Investor tells potential Bitcoin buyers: “Get off zero”

What started as a commentary on how artificial intelligence (AI) will embrace BTC soon turned into a dramatic description of how it should become the preferred currency worldwide.

Broyles believes that Bitcoin’s key attribute, a fixed and immutable supply, makes it a future-proof asset.

“Every innovation, even AI, will strive to competitively drive prices down as quickly as possible. Every country will rush to print more currency to increase prices and sustain credit markets. Both of these forces will accelerate,” he wrote.

Meanwhile, BTC will maintain a constant emission, meaning that even a small exposure to it will be significant.

“We have less in common with the future than the past… Bitcoin is already trading for hundreds of millions of political currency units in many nations. But the real significance is that all future prosperity gains from innovations will flow into society’s base money – BTC,” continued Broyles.

“This is why it is crucial for people to ‘get off zero.’ Saying ‘Bitcoin is digital gold’ is like saying a locomotive is an iron horse.”

This perspective aligns with that of Arthur Hayes, former CEO of crypto derivatives exchange BitMEX.

Hayes believes that AI will instinctively choose BTC as its financial lifeblood due to its unique qualities compared to other assets, including gold.

As a result, AI alone could drive the price of BTC above $750,000 per token.

BTC supply dominance hits “inflection point”

The race to secure the remaining BTC supply may have already begun.

Related: BTC price remains ‘undoubtedly bullish’ as $30K Bitcoin buyers emerge

Broyles argues that Bitcoin liquidity actually peaked during the March 2020 market crash and will never return to those levels.

When BlackRock, the world’s largest asset manager, announced its filing for a Bitcoin spot-based exchange-traded fund (ETF), BTC activity in the U.S. surged.

According to on-chain analytics firm Glassnode, the U.S. is reconsidering its exposure to BTC.

“Following the Blackrock Bitcoin ETF request announcement on June 15th, the share of Bitcoin supply held/traded by US entities has experienced a notable uptick, marking a potential inflection point in supply dominance if the trend is sustained,” commented Glassnode on July 8.

An accompanying chart showed the changes in regional BTC supply ownership.

Magazine: Should you ‘orange pill’ children? The case for Bitcoin kids books

We will continue to update Phone&Auto; if you have any questions or suggestions, please contact us!


Was this article helpful?

93 out of 132 found this helpful

Discover more


Bitcoin’s Future Lies in Embracing DeFi: Insights from Layer-2 Developers

The recent Taproot Upgrade has led numerous Bitcoin layer-2 projects to successfully integrate with the EVM. As a res...


Bankless Is the pause in the bull market an opportunity to buy on dips?

Investors experience the worst cryptocurrency drop in months, with Bitcoin and Ethereum falling 7.3% and 7.5% respect...


Crypto Investment Products See Inflows as Bitcoin ETFs Gain Popularity

Bitcoin reaches a 2-year peak as institutional investments in crypto products skyrocket.


UK government rejects call to treat crypto like gambling.

The government is taking action to promote responsible gambling and combat money laundering by closely monitoring bus...


The Bitcoin Buying Frenzy: Investors Go Crazy in the UK

The popularity of Bitcoin has led to a massive increase in worldwide Google searches for buying the cryptocurrency. I...


Coinbase CEO Bitcoin could be the key to expanding Western civilization

Coinbase CEO believes that Bitcoin may become a key to the expansion of western civilization and sees potential for c...