I think you’d need an almighty market rally for some of these. For the first trillionaire we’d need to see Tesla double and the market would need to be going bananas for Bitcoin to 2x.
Remember 2024 has been a monster year in the markets and they just indicated they are slowing down the rate cuts.
I know right , I think he might be too bullish on bitcoin for it to double , though I may be wrong but it just feels like there would be swings because I still believe that there is no use of bitcoin , Its just that its the one which started these coins and there could be better one for use cases , maybe like IDK monero for real anonymous transactions , but even then these are more of a sidekick thing which I don't think I would ever use but I still like the idea of monero , I really really stay away from crypto.
I like index funds so much , that everything else feels a time / effort waste even though I am aspiring to be a programmer , maybe that's partially why I don't see much reason in crypto.
I just think of index funding 80% + bonds 20% or maybe 100% index fund into my own country index ,and maybe having some backup money in need , probably in a liquid fixed deposit or having multiple bank accounts and giving them all the maximum amount of money which is guaranteed to be given to me if a bank fails by the govt. , probably 10k$ is enough in my country or maybe I am still over estimating.
>I like index funds so much , that everything else feels a time / effort waste even though I am aspiring to be a programmer , maybe that's partially why I don't see much reason in crypto.
Crypto is the future of money and finance. If you are aspiring to become a programmer you should internalize this and get in.
Crypto is the digital version of the old commodity money (whose value comes from a commodity of which it is made).
Turns out it was absolutely impractical because people rarely want to be physically responsible for their own estate.
I neither see crypto disappear anytime soon and we may see innovative usage. It can probably make sense in unstable economic environments. But everywhere else, you’ll want your estate not being accessible to burglars, you’ll want your big transactions to be legally secured, you’ll want your bank to be able to reverse things and you’ll want to not let your money sleep.
Also, unless governments start accepting crypto for paying taxes, you’ll have a hard time buying anything in daily shops.
No one in the financial industry seriously considers crypto except for the fact that they can use it to siphon money from the unfortunately disillusioned and the idiotic.
As a financier and a programmer, I'm happy people keep pouring money into it because I can win more games. As a human, it's really sad to witness.
I guess at the current market cap you may be right about 2x being "a lot", but the crypto market is no stranger to multiple increases.
And the valves are fully open now with a ton of Bitcoin/Crypto ETFs across the planet and in the US in particular. Even at these prices it won't take that much to raise the price drastically.
Musk's net worth was $137B in 2022, $270B in 2023 and now estimated to be $400B. $1T is a bit of an extravagant prediction but it's within the realm of possibility. And it might not be him.
Bitcoin was around $43k at the end of 2023 now at approximately $100k.
Remember 2024 has been a monster year in the markets and they just indicated they are slowing down the rate cuts.