Is it still worth investing in Bitcoin or crypto in 2024 after the rally with Carl "Moon" Runefelt
We talk to Carl on the podcast sharing where Bitcoin is going from here. After Trump won the election and with other catalysts under the hood, bitcoin has soared to over $93,000 over the past month and is set to continue. But where is it going from here and what should we be expecting?
this is not financial advice. Digital assets are volatile. Users should assess their financial situation, risk tolerance, and do their own research.
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Bitcoin ETF Launch
The launch of Bitcoin exchange-traded funds (ETFs) has significantly eased the process for both average consumers and large institutions to invest in Bitcoin, providing a massive influx of liquidity that was not previously available.
Political Support for Bitcoin
Donald Trump’s positive outlook on Bitcoin and his active engagement with the cryptocurrency market, including his own NFT ventures, serve as valuable marketing tools that help establish legitimacy for Bitcoin among the public and institutional investors.
Inflation Drives Demand
In countries experiencing hyperinflation, Bitcoin is increasingly viewed as a necessary asset for preserving purchasing power. This heightened demand demonstrates Bitcoin's utility in unstable economic conditions, compelling people to buy into it for survival rather than wealth accumulation.
High Profile Investments
Carl cites Michael Saylor's significant purchases of Bitcoin as an example for other corporations and investments. Saylor's strategy includes borrowing to buy Bitcoin, indicating confidence in the cryptocurrency's long-term value.
Price Predictions
Runefelt predicts that Bitcoin's price could reach between $100,000 and $700,000 in the next year, and suggests that over the next decade, it could eventually soar to $7 million per Bitcoin.
"Carl shared his future with us"
"I want to retire from crypto after this bull market and focus only on music, which is my biggest passion since i was a kid. In fact I have 5 songs on Spotify that I made when i was a teenager, the most known one of them is called "Dragon". Im a singer and songwriter. I've written hundreds of songs, but never released most of them because of lack of money or time, but this will change when i retire fully from crypto"