Whales Are Born in Times Like This

This morning I made my normal buy of bitcoin like I do everyday. I was a bit shocked to see that my ROI from mid-2019, when I first started buying bitcoin on a regular basis, was only up 400%. Just a few months ago it was a whopping 700%+ return.

If I was pessimistic about the Bitcoin and the blockchain economy, I would point to the spectacular blowup of the not so stable coin UST or “Terra Luna”. I would see this event as the end of the insanely bullish cryptocurrency speculative market predicted by naysayers and talking heads on cable and podcasts since the beginning of this particular bull run which began mid-2019. That’s when I first took notice of the shift in the market and started buying bitcoin for two reasons:

1. Ease of use. I could literally buy $5 dollars worth of bitcoin through CashApp about as easily as purchasing a $5 cappuccino.

2. I felt the timing was good to get into the market after the crash from the last previous high in late 2017.

No doubt the Terra Luna collapse is a landmark event. Some in the Bitcoin and crypto community have compared it to the crash of Long Term Capital Management and Bear Stearns. One difference is you won’t be seeing any kind of bailout for Terra Luna holders as you did with the former references. In fact, the bailouts are exactly why bitcoin and its triple ledger proof of work decentralized backing was created in the first place.

So I happily made my bitcoin purchase knowing that soon enough the price will see a return of 700%, likely more in the next year or two, certainly before the next halving event in 2024. In fact, in times like these, the next whales are conceived. So now is the time to be getting smart on bitcoin and other blockchain projects that have good utility.

I personally believe that we will be seeing a rebound sooner rather than later, even if we briefly test the low 20ks or below for Bitcoin. I quickly gave up on any idea of trading or timing the market. I am unwavering in this race, methodically adding to my Bitcoin position everyday while simultaneously getting smarter on the disruption that is slowly happening through NFTs and other blockchain projects.

From a technology business model perspective, I am convinced that NFTs will completely disrupt the $300 billion dollar gaming industry in the next 2-3 years. And finally for every 10 people who decided to not look at their portfolio and hid under a rock when their FAANG stock tanked, there are many other future whales who are quietly looking to truly understand the changing times and taking steps now to readjust their portfolios to the only growth opportunities available for the next decade.

The economy is changing from speculative tech growth to more conservative hard assets and commodities. One only needs to take a trip to a gas station or grocery store then look at the Nasdaq to understand this shift. A substantial amount of capital that would have flowed into Nasdaq and FAANG stocks will find their way to Bitcoin and blockchain as the next and only growth opportunity. The new whales will be born in the next 1-2 years before the end of 2024 when we will see supply of the ultimate settlement layer Bitcoin cut in half once again.

All the best,

Jim Fox

CEO

Bitcoin Buyers Club