If it looks like a duck, swims like a duck, and quacks like a duck, it’s probably a duck!
Every good story has a hero and a villain! Luke Skywalker had Darth Vader, Batman had the joker, and Clarice Starling had Hannibal Lecter.
So, too, Bitcoin has these guys…..
“Avoid Bitcoin Like the Plague”, We’ll Talk When It’s $100: — Jack Bogle -Vanguard Founder
Bogle is just one of many financial experts that have slowly become dinosaurs in this modern age of finance. It seems harsh, I know, but his time as a financial maven have come to pass. Even when dealing in the world of stock equities, Bogle has recently shown himself to be less than savvy. Amazingly, for all this pedigree, his confusion about Bitcoin shows he has little understanding of how money actually works. His idea to levy transactional tax was mind BOGLING. Dear Mr. Bogle, it is axiomatic that liquidity, the confidence that one can get the expressed price at any quantity, is mostly a function of the order density and nothing more. After all, if you artificially reduce the amount of transactions, Vanguard won’t be able to get rid of all those bad trades it holds en mass.
“Bitcoin is a fraud! It’s worse than tulip bulbs. It won’t end well. Someone is going to get killed.” — Jamie Dimon — J.P. Morgan
Recently, Dimon has shown himself to be just another clueless WS bum. While we’ve had over a decade of history proving Bitcoin’s a legitimate asset, even a store of value, Dimon continues to warn us that Bitcoin is a fraud!
That’s pretty ironic since he’s persuaded millions to steer clear of one of the most profitable investments of the 21st century. He argues that Bitcoin has no underlying rate of return when in reality, nothing has a guaranteed underlying value. Not even stocks, or bonds which he happily markets to his customers on a daily basis. The whole financial system is a house of cards and he knows it. If Jamie could only understand that one has to focus on utility, scarcity, and need, for this is where real value lies in any given asset.
Gold Bug Peter Schiff Says Bitcoin’s Recent Rise Is Due to Whale Manipulation, Calls BTC ‘Pyramid Scheme’. — Peter Schiff
What can I say that already hasn’t been said about Bitcoins biggest arch-villain Peter Schiff? This well known gold bug had been saying Bitcoin will go to zero for the last 10 years. Take a look at some of his most recent Twitter statements and let me know what you think.
He’s a true genius when it comes to his Bitcoin calls! Bitcoin has been, by far, the best performing asset every year for the past 10 years. Meanwhile his precious gold has less than doubled within that same timeframe. Check out below and see how some of the most popular assets have performed over the past decade when compared to Bitcoin.
Bogle, Dimon and Schiff may have had their day, but now is a new era, the era of Bitcoin . Moving in on all-time highs once again, Bitcoin has outperformed every single asset over the past ten years, and this is only the tip of the iceberg!
It’s your choice, will you advance into the digital age by embracing the future of money or rather ride home on your dinosaur, and go hide inside your cave!
