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HEY! I thought Bitcoin was dead? What the heck? You mean the most powerful decentralized computing network in the world is still increasing in power? Yep! By all other accounts, especially the price, you wouldn’t guess this is the case.
This metric is incredibly bullish and cannot be understated. Tens of millions of dollars are pouring into this newly founded digital mining sector. Imagining back to the California Gold Rush of 1848 infrastructure was built, hydraulic mining increased output, technology improved. The sudden influx of gold into the money supply reinvigorated the American economy. I foresee the Bitcoin mining industry revitalizing the American economy in the same way the California Gold Rush did.
That might seem a little far fetched at this current moment, but what if the world economy doesn’t return to normal? What if GDP’s across the world continue to tumble? A never ending cycle of Inflation & debt are destroying our world. The dollar is losing it’s value hand over fist and soon will be dropped as the world’s reserve currency.
I’ll give you one guess what currency will be adopted next as the world reserve currency. It’s time for planB.