I think you will more enjoy this post if you FIRST watch this quick Bitcoin explainer on my new favorite financial show ‘The Lily Show‘
Here we go…
On 3 January 2009, the bitcoin network came into existence with Satoshi Nakamoto mining the genesis block of bitcoin (block number 0), which had a reward of 50 bitcoins. Embedded in the coinbase of this block was the text: The Times Jan/03/2009 Chancellor on brink of second bailout for banks.
Here we are in 2021 and Bitcoin 1 trillion (8 percent from that round number) is one of the most fascinating investing moments of my investing career. I remember Yoni Assia first telling me to buy Bitcoin at 12 cents in Tel Aviv back in 2010. I told him to just take my money for Etoro and leave me alone.
I was told by someone on Twitter last night that if I had invested just $1,000 at 12 cents and held, my Bitcoin stake would be worth $416,666,666.
There is no way I would have held or NOT lost those original Bitcoins so investing in Etoro was a pretty good next best decision to make that day as Yoni has held Bitcoin and multiplied my investment at a much better rate than I would or could have.
Bitcoin $1 Trillion comes with a lot of other records in the markets that make sense considering the macro events that brought us Bitcoin $1 trillion.
Japan’s Nikkei is exitiing a 30 year bear market:
$EBAY – the godfather of ‘Beanie Babies’ and selling stuff from your closets and garage is at all-time highs:
A Wayne Gretzky rookie card IPO’d on Rally Rd for $800,000 (I am sure I had 5 of those at one point as a kid in Toronto but lost them in ‘shootsies’):
I wish I was younger to more enjoy this moment in investing history. The yoots have all these new financial toys.
Back in 2010 I wrote a blog post titled ‘The iPad and The Financial Web…To Infinity And Beyond‘. The gist:
In 5 years, your 20-year-old kid will be quoting the Yuan, Dollar, Yen and Euro (maybe) in the same way they talk about social gaming and photo sharing. They will be trading during class. There will be a million Jim Cramer’s. Though Jim Cramer seems tired and old to us ‘professionals’, the circus has just begun.
It took 10 years but Stocktwits, Robinhood, Etoro, Bitcoin, TikTok, Discord, WallStBets, Twitter, Signal, Telegram, Alpaca, Rally Rd, sure have brought my 2010 prediction to life.
I went on to say:
I have NO doubt that the iPad will amp things to a level not thought possible in the financial markets..
Will the average person make money….NO.
Will that matter…NO.
It turns out the iPhone is really all we needed, but the iPad might still have a future!
There is also a big future for products/companies that help the average person learn to be a better investor. I am now more focused than ever trying to make that happen.