- July 10, 2021
- Posted by: Progress Ibrahim
- Category: Bitcoin, cryptocurrency
Do you know the future? What does the future look like? Have ever wonder if the future and the present have any difference?
Well, the future of Bitcoin and Cryptocurrency is one that will surprise the world, including you and me.
Have you ever imagined if Bitcoin becomes $500,000 in the future what you will do? Well, this may sound weird and not possible but that is far from being weird and impossible.
Ark Invest CIO, Cathie Wood has predicted based on her experience that BTC has that latent potential.
What I will do when Bitcoin becomes $500K is what I have been doing. It is to continue to work on the levers of education and innovation to accelerate the adoption of Crypto.
As I have been telling you, the Blockchain and Crypto industry has the potential to add trillions of dollars to the global GDP, when it happens your life will be transformed economically. However, the future will benefit those that create it.
Therefore, the next wave of Bitcoin will partly be determined by three players, Jack Dorsey, Elon Musk and Michael Saylor.
I will be showing you how in this article.
How Jack Dorsey will Determine the Next Wave of Bitcoin
One of the special attributes of tech leaders is that they can spot the trends. According to CNBC Jack Dorsey said, “if he were not working on Twitter and Square, he would be working on Bitcoin”. He believes that Bitcoin will become the native currency of the internet.
Here are the two ways he will contribute to the next wave of BTC.
- B Word Conference and Initiative
According to Decrypt Jack Dorsey created the B word initiative with the core aim of educating institutional investors to embrace Bitcoin. One of the levers to leverage on for the mainstream adoption of crypto is education.
This is also at Trenndify core leveraging strategy. The B word conference is to come up in July 21st, 2021 where Cathie Wood will be a guest and Elon Musk who is Bi-curious will also feature.
What this will do is that it will help to re-educate the investors’ community about Bitcoin thereby promoting an increase in adoption. The next thing Jack Dorsey is doing for the Bitcoin community will amaze you.
- Square and Jack plan for Bitcoin
Jack Dorsey has some impressive plans to scale the adoption of Bitcoin. He believed that Bitcoin is the hope to the financial inclusion problems of developing countries.
Square will be creating a non-custodian wallet for Bitcoin and there are other innovations that will be integrated to Bluesky that are aimed at making Bitcoin to gain increase adoption. For instance, innovation such as Lightning Network can scale massive adoption because it promotes micro transaction.
What if this is integrated into Twitter?
Now, Michael Saylor initiatives will inspire you. Here they are;
How Michael Saylor will contribute to the next wave of Bitcoin
One of the Bitcoin adoption proponents is Michael Saylor, he is a major force in the community. He is a futurist, who believes that wealth cannot be preserved in gold, bond or financial derivatives but instead in Bitcoin.
Here are the two things he is doing that will impact the next wave of Bitcoin positively.
- Micro Strategy investment
Michael Saylor is the chairman and the CEO of Microstrategy, an enterprise software company. Over the years he has converted part of the company balance sheet to Bitcoin and he has continued to buy more dip.
For instance, during the miner capitulation due to China Crackdown on Bitcoin mining activities, the price of Bitcoin dipped to $29k, he bought. This has helped the demand side of the Bitcoin market that works based on the free market mechanism.
He has been since then been teaching others his Bitcoin investment playbook and strategy. This will go a long way to help increase adoption. That does not end there; he is doing more to help the community.
- Saylor and the Bitcoin Mining Council
Sustainable environment is a core UN principle and the adoption of renewable energy is important. Concerns erupted from investors, government and policy makers over Bitcoin mining electricity consumption, that it has negative impact on the environment.
Therefore, Elon Musk who previously invested and announced that Tesla will be accepting BTC for payment said they will stop until a sustainable solution is found. In reaction to this, Michael Saylor formed the Bitcoin mining council to promote transparency and to educate the public about Bitcoin and Bitcoin mining.
This will help to report the hashrate and electricity consumption data of Bitcon mining.
Finally, is the Elon Musk effect still effective or it has decayed like the concept of radioactive decay?
How Elon Musk will Contribute to the Next Wave of Bitcoin
Elon Musk is the world second ranking billionaire based on the Bloomberg Billionaire Index. He has wielded great power in the Bitcoin community as his tweets tends to impact the demand and supply of Bitcoin thereby causing a rising or dipping of coins.
Here is how he could further contribute to the next wave of Bitcoin;
- Tesla Acceptance of Bitcoin for Payment
Elon tweeted that Tesla would stop accepting Bitcoin for payment due to energy concern. He charged the miner community to consider renewable or sustainable energy, that Tesla would start accepting Bitcoin when great progress is made.
Great progress has been recorded as the Miner council reported a 56% sustainable energy mix in the second quarters of 2021.
What that means is that Bitcoin mining is now environmentally friendly. So, will Tesla resume accepting Bitcoin as a payment method? If it does, the price of Bitcoin may return to $62k in a short time or attain a new all time high (ATH).
The best part is this…
- Elon Musk Effect and Radioactive Decay
Elon musk has perfected a marketing strategy that he can use to influence anything. His fans believe his words, and apart from mere belief they act on his tweets.
The way he tweets and what he tweets have significantly affected the Crypto market and the stock market likewise. While Doge has been favored by his tweets, BTC has been impacted negatively due to energy concerns.
If he becomes positive about Bitcoin, then it may have a positive impact on the price of Bitcoin. But, the Bitcoin community wants the Elon Effect to fade, and not to have much power as it has been.
However, the best thing to do is to create the future you want. For Bitcoin the future is already being created. Through the activities of these great figures, the future of Bitcoin is promising. As Satoshi said, Bitcoin is a peer to peer currency, the internet native currency.
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