“Boomers Will Suffer” - BTC Will Hit $1 Million by 2025
Bitcoin (BTC) could rise to $1 million, while the coronavirus will cripple the Baby Boomer* generation, the macro report concludes.
First published to clients on March 30, the report from Global Macro Investor titled “The Unfolding” paints a bleak future for financial markets.
Pal: Boomers will sell out as soon as possible
According to CEO Raoul Pal, the report's author, the coronavirus has fueled the flames of systemic weakness in the global market.
“The impact of the damage on the US pension system is immeasurable. Baby Boomers will sell as soon as any opportunity presents itself to protect its rapidly shrinking last nest egg,” he summarized financial market losses from March.
"Baby Boomers are going to be absolutely miserable. I've been publicly warned about this."
Since the time of the report's publication, the curious phenomenon of the stock recovery combined with the record unemployment rate has been increasing.
Bitcoin advocates have argued that this represents the inherent unfairness of the contemporary fiat economic model – big business goes digital while employees and small businesses run out of nothing. RT host Max Keizer has called this "new feudalism".
BTC Targets $10 Trillion Assets
For Pal, Bitcoin represents an incredible escape opportunity from a rapidly deteriorating status quo.
If gold can grow fivefold in the next 5 years, BTC has even more potential.
“Bitcoin, is another story,” according to the report.
“I think it could reach $1 million in the same time period and it could go from a $200 billion fortune to a $10 trillion fortune.”
Pal concluded that Bitcoin is “more than just a currency or even a store of value.”
“It is a completely trusted, authentic, secure, financial and accounting system of a value that can never be created outside of a cryptographic algorithm. There is always a future for the entire exchange system, for this coin and the platform on which it operates.”
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