During a recent episode of the ‘Rich Dad Radio Show,’ Mark Moss, the author of the Uncommunist Manifesto, discussed the reasons why investing in Bitcoin is still a wise choice despite the rise of other cryptocurrencies like Dogecoin, Solana, and Ethereum. Moss pointed to historical data that shows significant price increases following previous halving events.
Moss predicts that Bitcoin could reach $43 million per coin within the next 50 years. He compared this prediction to the disruptive nature of ideas like Uber in Silicon Valley years ago. By capturing a small percentage of various industries such as taxis, limos, and van shares, Moss believes that a valuation of $100 million could be justified.
When looking at Bitcoin as a store of value compared to assets like gold, luxury items, stocks, real estate, bonds, fiat currency, and offshore accounts, Moss estimated the combined value of traditional stores of value to be around $900 trillion. He emphasized the challenge of shifting mindset to think in terms of Bitcoin rather than dollars due to the constant printing of the latter.
Moss also highlighted Bitcoin’s halving effect, where the new supply of Bitcoin is halved every four years. This reduction in supply, combined with a constant demand, typically leads to price increases. Moss noted that the recent involvement of Wall Street in the Bitcoin market through ETFs has further increased demand, aligning with basic economic principles.
In contrast to fiat currencies, where central banks can adjust the supply at will, Bitcoin operates on a predetermined schedule. With a capped supply of 21 million Bitcoins expected to be reached by 2140, Bitcoin is becoming even scarcer than gold, historically one of the hardest assets.