Generational Wealth in Crypto
343: Don't Say You Weren't Warned
Alright fuck it — three posts this week. Bitcoin is ripping to all time highs. We were right again. We were doubted endlessly by the anti crypto brigade but once again we find ourselves on the verge of a seismic run ahead of a pivotal election.
16 years ago today the Bitcoin white-paper was released — the Bitcoin white-paper, published by Satoshi Nakamoto in 2008, outlines Bitcoin as a decentralized, peer-to-peer electronic cash system. It introduces a solution to double-spending through a blockchain that timestamps transactions, securing them with a Proof of Work (PoW) system that makes tampering computationally difficult.
Bitcoin incentivizes network security by rewarding miners with new bitcoins and transaction fees. Only 21M Bitcoin will ever exist. You can’t print them during a pandemic when you panic, you can’t coerce a government official to make more of them, and if you hold them in cold storage — you’re essentially your own bank.
We will review my tried and true strategy for making money in crypto today and dive into the assets that are primed for lift off. Long term subscribers have likely already printed (rendering their $5/month cost to access this completely negligible). The commentary and strategy in Arb Letter works guys — otherwise we wouldn’t have 27,000 subscribers and be a top ranked crypto newsletter.
This edition will contain all vital info re: crypto you need to get exposure but remember, we have an archive of 340+ posts on Substack including many crypto guides, beginner’s pieces, and security posts. In these guides you can find lists of the top literature and books on crypto, the top influencers to follow, and other resources that are helpful.
Today we’ll cover the techniques that will work for newbies and go through some individual picks/news updates for some of the veterans who have been here awhile and might want to trade.
Today’s the last time I am going to “pitch” or “stress” the importance of holding crypto moving forward and more specifically Bitcoin so moving forward I don’t want to see the classic DMs “how do I get into crypto” “what should I buy” or “am I too late?”.
I’ve been a champion for years and I am a long term holder since 2017 — that being said if someone doesn’t “get it” at this point they lack the motivation to change their life financially OR they’re still skeptics for some reason (which is insane to me).
Here’s the deal — people are going to get absurdly wealthy off of crypto, and if you haven’t gotten involved you’re going to be pissed. While they are insulating their money from the inflationary pressures on fiat and the volatile stock market that the Fed now gets to try and prop up throughout the election, you will be at a loss — wondering what you should do to try and grow your money.
Crypto is the next frontier guys. Understand this — it is not going anywhere. Bitcoin is likely going to mid six figures. If Trump wins, the inevitable happens sooner and we rip into the fucking stratosphere. Binance founder CZ said recently that a couple of guards in prison were asking him which cryptocurrencies to buy lmao!
The guards are locked in are you?
I talk a lot about politics and society in Arb Letter and by now you can probably tell I value the following:
Sovereignty
Wealth
Freedom from a traditional job (9-5 for 40 years then die lol)
Autonomy
Crypto has the capacity to give you these things and it has already given me a few of them. This will be a massive technological and societal trend that will pick up substantial steam when the political climate cools down.
Set against a troubling macro backdrop that includes unprecedented national debt numbers, difficulty in acquiring homes, and a faltering corporate job market (US job openings fell by 420,000 in September, to 7.44 million, the lowest since January 2021 - Kobeissi Letter), crypto is a shining light for those looking for a way to try and break out of this system.
There’s also just the math — Bitcoin’s has a roughly 49% average annual return over the last 10 years. The Nasdaq is at roughly 17% and the S&P 500 is at 10%. Crypto is far outpacing legacy indices and assets. Why wouldn’t you get onboard?
So first let’s talk through my price predictions and sense of what comes next and when the pump starts then we can move into the specific assets I am buying right now and how I think you should be positioned if you want to print bands king.
The time to take this seriously is now — don’t come back to me in 4-5 months asking what the move is when we’ve telegraphed into the andromeda galaxy of profits.
“Bitcoin is a classic network effect, a positive feedback loop. The more people who use Bitcoin, the more valuable Bitcoin is for everyone who uses it, and the higher the incentive for the next user to start using the technology. Bitcoin shares this network effect property with the telephone system, the web, and popular Internet services like eBay and Facebook.”
—Marc Andreessen, entrepreneur & investor