Elon and the Epoch
February 2021. Bitcoin’s epoch moment. The zero trust money of the future. Had landed into the consciousness, of millions of new brains around the world.
Financial commentators will often go back to the ’90s when Netscape IPO’d on the New York Stock Exchange. At that moment the internet had its very own Elon moment. The opportunity to make money, in a brand new technological revolution only comes around 1 or 2 times in your investing career.
This is why they often bring about massive waves of speculative interest.
The Internet Bonanza of the 1990s was really only limited to a few million US retail investors. The UK and Europe were basically excluded from this investment mania. The innovation was all in San Jose and the Bay area. The speculative capital was concentrated in New York.
Internet stocks were the original Crypto’s. CSCO systems soared in price from $0.07 to $82. Or a 1171 multiplication of a potential investment. No one could have ever been that great of a financial wizard, to pull that off. But $5 to $50. Sure, I bet a lot did! Mix in leverage of margin and calls and puts to play the swings. You are talking about serious generational wealth being made. On a single stock.
As as you may know Cisco provided a lot of the technological hardware for the revolution to take place. It also had a killer branding in its name. The golden gateway of San Francisco, abbreviated into 5 letters. Conjuring up images of the 1849 Gold Rush all over again. A no-brainer if you will.
Mark my words. Elon’s purchase of $1.5 Billion dollars of Bitcoin, is a moment in time that will still be remembered for many years if not decades.
If a new financial economy is to enter our domain. It takes waves of speculative capital and promises of claiming newfound wealth. To trigger the masses to enter the cryptocurrency arena. Economic mass derived from millions of minds dreaming of riches enables developer talent to be rewarded for switching from comfortable old-world finance to something new and exciting.
The information superhighway. Changed communication and social networks forever. Mail went digital, so did our consumption of news and entertainment.
Cryptocurrency networks will change how value is transmitted peer-to-peer, and enable new digital economies to flourish, where there was none. Why build a banking network in Africa or India. When all your wealth is accessible 24/7 through your phone.
Wall St is where most of the money is circulated up to this point in time. Seems a little unfair to the rest of the global population if you ask me!
Elon Musk dreams of populating Mars. I don’t think they will be using US Federal reserve notes up in Space. So let the dreamers dream, the builders build, and the speculators speculate.