Bitcoin Hits $56,000

Originally published at: Bitcoin Hits $56,000 | Infostormer.com

Bitcoin has just hit $56,000.

*Bitcoin Crosses $1 Trillion Market Value And Soars Above $56K – https://t.co/phEL7IhXZX #BTC#Bitcoin pic.twitter.com/IOKeP3vwkj

— Investing.com (@Investingcom) February 20, 2021

This is largely due to stories like Tesla buying Bitcoin and institutional money stepping into the cryptocurrency markets.

Primarily, I think this move reflects an increasing lack of confidence people have in the financial system. The Federal Reserve is printing trillions upon trillions of dollars and this is literally the only thing keeping things together. As a result, these devalued dollars are going into non-dollar assets with cryptocurrencies like Bitcoin being one of those asset classes. Unlike dollars, there is a finite number of Bitcoins so it makes sense that they are going up in dollar terms.

I think a hyperinflationary collapse is becoming a more and more real possibility with all the insanity going on. We’ve had over 700,000 jobless claims per week since March 2020 and there are all sorts of economic problems that have been caused by the coronavirus lockdowns. It’s utterly nuts what’s been allowed to happen.

I honestly would not be surprised to see Bitcoin hit $100,000 this year but only time will tell. It is a volatile market and there are a small number of big players who own large sums of Bitcoin who can influence the price.

And while I do have cryptocurrencies, I’m more bullish on gold and silver since you can maintain physical possession of them and they can be used to barter with in any situation. They have a much longer track record in storing value whereas cryptocurrencies are a new phenomenon.

But Bitcoin passing $56,000 is just reflective of the vast economic problems we have and I don’t expect it to get better anytime soon. Especially not with the Harris-Biden regime pushing the worst policies imaginable.

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Bitcoin and Ethereum are both in record territories and will continue going higher ($100,000 to $1 mm predictions have been forecast Today's Top 100 Crypto Coins Prices And Data | CoinMarketCap) as those phuckin walmart wuflu communist chink’s bat flu disease continues wrecking human, economical and social theaters around the world. In addition to the Pedo In Chief Biden and Cameltoe Harris (who lied about being black)throwing billions away to non-Americans and muslim terrorist countries.
In addition to severe snow and freezing weather conditions destroying crops and livestock, the coming unemployment from open borders and legal/illegal racist gimmecunt immigrants invasions under the current communist pedophile run goobermint’ printing fiat monies weakening an already weak dollar will exasperate this fallout and shortages will create rations worse than WWII, and will last for years, even decades.
Load up on canned goods, non-perishables, ammunition and water.
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Then it crashed 10,000 but then was just saved by video game company Square Enix buying $170 million… what is that like 3 bitcoins now

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