I’d expect that it would take investors a long time to try to find assets that performed better than Bitcoin(CRYPTO: BTC) has. In the past decade, the world’s most valuable cryptocurrency has skyrocketed 121-fold. If you’d invested $1,000 10 years ago, you’d have a jaw-dropping $121,000 today.
Here’s why Bitcoin, even after its monumental performance in the past decade, is still the ultimate cryptocurrency to buy with $1,000 in August.
Bitcoin is a game-changing concept
When the Bitcoin whitepaper was released in October 2008, it introduced a method for two parties to directly send money to each other digitally without the use of an intermediary. This just wasn’t possible before.
The fact that Bitcoin is decentralized and borderless with no single entity in control is a game-changing breakthrough in and of itself. But what’s truly special is the fixed supply cap. There will only ever be 21 million coins in circulation, thanks to a pre-determined inflation rate that’s etched into the software. Plus, Bitcoin has never been hacked, which might make it the most secure computer network on Earth.
Bitcoin’s characteristics are definitely compelling. But they stand out even more if we view the blockchain network in relation to the current financial system.
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Look at the U.S., the world’s dominant economy. Despite this leading position, the government continues to operate with a massive fiscal deficit that is likely never going to change. That has resulted in a federal debt burden of $35 trillion. Consequently, the money supply has also climbed rapidly in the past 20 years, with no end in sight.
This unfavorable situation isn’t unique to the U.S. And it leads to the constant debasement of fiat currencies. This alone shows why Bitcoin is potentially a better financial asset.
Bitcoin’s long-term upside
I’ve seen some very optimistic scenarios for Bitcoin’s ultimate upside. Cathie Wood of Ark Invest believes in her firm’s bull-case outlook that Bitcoin’s price will rise to $3.8 million by 2030 — provided that the crypto commands a higher allocation in investment portfolios, whether that’s for individuals, institutions, central banks, or corporations and their balance sheets.
I can’t predict the future, but I think this lofty projection isn’t probable. Going forward, it’s reasonable to expect that Bitcoin’s returns won’t be nearly as wonderful as they were in the past. That’s just the nature of an asset that starts to mature.
A more apt comparison pits Bitcoin side-by-side against gold. Both are viewed as commodities, with one being purely digital and one being physical. Gold has been used as a store of value for thousands of years and is still perceived as a safe-haven asset today. Bitcoin aims to be something similar.
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In my opinion, the top cryptocurrency possesses more favorable traits than gold. Because Bitcoin is digital, it’s more portable, verifiable, and divisible.
Bitcoin is also easier to transact with, as there are services set up to facilitate its use. Try using gold to pay for anything. That’s not practical. As the world continues to move toward a more tech-enabled and connected future, Bitcoin is poised to become a more important part of the global economy.
Assuming that Bitcoin’s market cap of $1.2 trillion one day matches gold’s market cap of $16.9 trillion, there is 1,300% upside. It’s not unreasonable to expect that Bitcoin can eventually exceed the value of the precious metal.
Of course, the only way for any investor to even have the chance to capture this potential upside is to be able to handle the inevitable volatility and have a very long-term mindset. Investing $1,000 in Bitcoin in August and holding for a decade or beyond could prove to be a very lucrative financial decision.
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Should you invest $1,000 in Bitcoin right now?
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The Ultimate Cryptocurrency to Buy With $1,000 in August was originally published by The Motley Fool
Telegram Founder Pavel Durov's Arrest In France Sparks Reactions From Ethereum Creator Vitalik Buterin And Tron Founder Justin Sun – Grayscale Ethereum Mini Trust (ETH) Common units of fractional undivided beneficial interest (ARCA:ETH)
Prominent voices from the cryptocurrency space reacted to the arrest of the popular messaging app Telegram‘s CEO and founder Pavel Durov in France.
Ethereum co-founder Vitalik Buterin has expressed concern over the future of software and communication freedom in Europe, following recent developments involving Telegram.
What Happened:Ethereum ETH/USD co-founder Vitalik Buterin expressed concern over the future of software and communication freedom in Europe via an X post on Sunday.
Buterin said that he had been critical of Telegram’s encryption previously. Still, the charges brought by the authorities for being “unmoderated” and refusing to hand over user data made the issue appear “very bad.”
I’ve criticized Telegram before for not being serious with encryption.
But (given the info available so far: the charge seems to be just being “unmoderated” and not giving up people’s data), this looks very bad and worrying for the future of software and comms freedom in Europe.
Another well-known blockchain entrepreneur, Justin Sun, also weighed in. The Tron TRX/USD founder proposed a decentralized funding initiative to help Durov in his legal struggles. Sun pledged to donate $1 million to the cause if it garnered sufficient community support.
We should show the cryptocurrency industry’s unity by organizing a #FreePavel DAO to help Telegram founder Pavel Durov legally gain freedom. I’ll donate $1 million if it’s created in a decentralized way with enough community support. @elonmusk@MarioNawfal
— H.E. Justin Sun 孙宇晨(hiring) (@justinsuntron) August 25, 2024
Some users called out Sun’s proposal as a gimmick, saying that money was not the problem for Durov, whose net worth is estimated to be more than $15 billion.
See Also: Powell’s Rate Cut Signal Sparks Crypto Optimism: Experts Eye Potential Bitcoin Rally
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Why It Matters: These responses came after Durov’s arrest shocked many in the corporate world and those advocating for free speech.
Durov, a Russian-French billionaire, was apprehended on Saturday evening while traveling on his private jet. The arrest is linked to an ongoing police investigation in France, which is reportedly focused on the lack of moderators on Telegram, allowing criminal activity to persist on the platform
Tesla CEO Elon Musk, who also runs social platform X, described the developments as “super messed up.”
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Renowned investor Bill Miller III continues to show his unwavering support for BitcoinBTC/USD despite the cryptocurrency’s market volatility.
What Happened: In a recent interview with Forbes, Miller shared his investment strategies and his views on the current market.
Miller, who began co-managing Legg Mason Value Trust in 1982 and later assumed the role of solo manager in 1990, has a track record of making early investments in hyper-growth stocks like America Online and Amazon.com. His annual performance surpassed the S&P 500 Index for 15 consecutive years from 1990 through 2005.
After parting ways with Legg Mason, Miller allocated 1% of his personal portfolio into Bitcoin in 2012, when the cryptocurrency was valued at around $700. Bitcoin now trades near $60,000 per coin.
Miller’s son, Bill Miller IV, currently manages Miller Value Partners, overseeing approximately $290 million in assets through the Miller Income (LMCJX) mutual fund and two ETFs: Miller Value Partners Appreciation (MVPA) and Miller Value Partners Leverage (MVPL).
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Also Read: Bitcoin To Hit $1 Million In Next 10 To 18 Months, Says Crypto Analyst: ‘We’re Still So Early In The Bitcoin Story’
In the interview, Miller shared his insights on how he consistently outperformed the market for over a decade and discussed opportunities in the current market. He also spoke about his early life, his time in the Army, and his journey into the world of investing.
Miller highlighted Bitcoin as one of his most successful investments, stating, “I bought Bitcoin (BTC) around $200 at the start, and I think my average cost from 2012 to 2024 is around $700. It’s the only economic entity where the supply is unaffected by the demand or the price. All you have to believe is that the demand for Bitcoin will grow faster than the supply.”
“I would suggest that you consider putting 1% of your liquid assets into Bitcoin, and then forget about it. You could lose all your money but look how much it’s gone up in the last two years. You have nothing that has gone up as much as Bitcoin in the past two years. I said, let’s have lunch together and talk about this thing. Bitcoin is an insurance policy against financial catastrophe, against inflation, against the types of things we saw during the pandemic,” he added during the interview.
Also Read: Anthony Scaramucci Says Crypto Will Soar If This Presidential Candidate Wins The Election: ‘I Think We’ll See All-Time Highs For Bitcoin And Other Assets’
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He also shared his investment philosophy, emphasizing the importance of understanding what is happening in the market rather than trying to predict future trends. Miller believes that investors need to have an edge, which can come from information, analysis, or behavior.
“The Fed had to flood the system to keep the Treasury market functioning, but nobody had to come in and bail out bitcoin. You can’t bail it out. I would predict that within the next three to five years, a majority of advisors will advise people to have 1% to 3% of assets in Bitcoin,” Miller said.
Why It Matters: Miller’s continued support for Bitcoin, despite its market volatility, underscores his belief in the cryptocurrency’s potential. His early investment in Bitcoin, when it was valued at around $700, has proven to be a smart move, with the cryptocurrency now trading near $60,000 per coin.
Miller’s investment philosophy, which emphasizes understanding the market rather than predicting future trends, has served him well throughout his career.
His belief that investors need to have an edge, whether it comes from information, analysis, or behavior, provides valuable insight for those looking to succeed in the investment world.
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Analyst Predicts Bitcoin To Reach Groundbreaking $100,000 Milestone
This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
In the ever-evolving world of cryptocurrencies, meme coins continue to capture the imagination of investors. Among these, Dogecoin (DOGE) and Mpeppe (MPEPE) have emerged as a potential millionaire-making combination for those willing to seize the opportunity. Both coins are currently on an upward trend, and the time to invest might be now if you’re aiming to capitalize on their potential for massive gains.
Dogecoin: The Original Meme Coin Facing Key Challenges
Dogecoin (DOGE), the original meme coin, has been a staple in the cryptocurrency market for years. Recently, on August 20, Dogecoin (DOGE) saw a 6% surge as it attempted to break past the critical $0.10 mark. This surge was accompanied by a significant increase in trading volume, signaling strong interest from investors. However, despite this initial excitement, Dogecoin (DOGE) struggled to maintain its momentum and quickly lost the gains it had made.
According to data from Santiment, Dogecoin (DOGE)’s one-day realized capitalization has hit a monthly low of $12.43 million, indicating that the coin may face challenges in surpassing the $0.10 barrier. This metric, which represents the aggregate cost basis for coins on a blockchain, suggests that Dogecoin (DOGE) might be undervalued, but also highlights the difficulty of achieving higher valuations.
Adding to the concern is the liquidation heatmap, which shows a high concentration of liquidity around the $0.10 level. This suggests that Dogecoin (DOGE) might continue to fluctuate between $0.09 and $0.10 unless there is a significant increase in buying pressure. The technical indicators, such as the Relative Strength Index (RSI), remain below the neutral 50 mark, indicating that Dogecoin (DOGE) is still under bearish control. To break free from this range and potentially reach higher levels like $0.13, Dogecoin (DOGE) will need a substantial boost in market conditions.
Mpeppe (MPEPE): The New Contender with Explosive Potential
While Dogecoin (DOGE) battles to maintain its position, Mpeppe (MPEPE) is emerging as a powerful rival in the meme coin space. Currently priced at just $0.001777, Mpeppe (MPEPE) offers a low entry point with the potential for exponential growth. As it stands, Mpeppe (MPEPE) is in its presale stage, attracting considerable attention from early investors looking to maximize their returns.
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One of the key attractions of Mpeppe (MPEPE) is its presale bonus structure. Investors who participate in the presale are not only getting in at a low price but are also receiving additional tokens as part of the bonus incentive. This structure is designed to reward early adopters and create a strong community base before the coin hits the broader market.
Mpeppe (MPEPE) is built on the Ethereum blockchain as an ERC-20 token, ensuring compatibility with a wide range of wallets and decentralized applications. The project also boasts a robust tokenomics model, with 50% of the total supply allocated to the presale and unsold tokens set to be burned, reducing the overall supply and potentially increasing the token’s value. Additionally, Mpeppe (MPEPE) has allocated funds for liquidity, gaming, and sports betting, which positions it for future growth in various sectors.
Why Dogecoin and Mpeppe (MPEPE) Make a Powerful Investment Duo
Investing in both Dogecoin (DOGE) and Mpeppe (MPEPE) could provide a balanced approach to building wealth through meme coins. Dogecoin (DOGE), with its established market presence and large community, offers a level of stability, albeit with challenges. On the other hand, Mpeppe (MPEPE) presents a high-reward opportunity that could result in significant returns, especially for those who get in early.
By diversifying investments across both Dogecoin (DOGE) and Mpeppe (MPEPE), investors can potentially benefit from the strengths of each. Dogecoin (DOGE)’s potential to break past $0.10 and reach new heights could complement the explosive growth prospects of Mpeppe (MPEPE) as it moves through its presale stages and into broader market adoption.
Conclusion
For investors looking to capitalize on the next wave of meme coin mania, Dogecoin (DOGE) and Mpeppe (MPEPE) offer a compelling combination. While Dogecoin (DOGE) fights to regain its footing and break through key resistance levels, Mpeppe (MPEPE) is poised to capture the attention of early investors with its low entry price and generous presale bonuses. Together, these two cryptocurrencies could provide a pathway to substantial wealth, making now an opportune time to consider adding both to your investment portfolio.
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For more information on the Mpeppe (MPEPE) Presale:
