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It isn’t often that you get to consider bringing about revolutionary change that will impact the world for decades to come — unless you work in bitcoin. Our entire purpose is to ensure hyperbitcoinization through education and evangelism. One of my favorite contributors here at the magazine, Dion Guillaume, discussed these ideas with me in our recent episode of “Meet The Taco Plebs.” We touched on how bitcoin was first represented in the media, how bitcoin brings financial freedom to people, what is important to understand about bitcoin and more. Be sure to listen to the full podcast and check out the written interview below.
How did you first hear about/get into bitcoin?
I first heard about bitcoin in 2011 while doing my daily reading on Gizmodo — they were pretty anti-bitcoin so I assumed the same position until much later. In 2015, before his passing, my uncle and I discussed bitcoin and he mentioned it had merit and I should get in on it, which I once again didn’t do.
It wasn’t until early 2017, right as the bull run started off, that I really got into bitcoin. Of course, at the time I wasn’t very knowledgeable and lost a decent amount of money day trading. After a while I decided to adopt the “diamond hands” mantra and just HODL on. It paid off.
How has Bitcoin changed your life?
Well, since I haven’t sold any, I’d say financially I haven’t changed much, however as my understanding of bitcoin and the global financial markets grew I became much more aware of how the governments and financial institutions of the world exert control over the masses.
Bitcoin brings financial freedom and despite its volatility at times, it’s a solid hedge against inflation, probably the best “rainy day” fund anyone will ever have.
What do you believe is the most important part about Bitcoin for people to understand?
There are two things I believe are important for people to understand about bitcoin. The first is that its environmental impact isn’t as bad as the media would have many believe and bitcoin mining is likely to fuel the adoption of renewable sources of energy. The second is that bitcoin isn’t primarily made up of shadowy figures eager to commit crime and hide their wealth.
What are you most looking forward to in the Bitcoin space?
Further adoption. Bitcoin is still in its early days. El Salvador adopting bitcoin as legal tender paved the way for so many other countries to adopt bitcoin. Bitcoin is very likely to become the global currency over the next few decades. There will of course be challenges, but nothing in life comes easy and as proven in the past, bitcoin can withstand any obstacle in its way.
Price prediction for the end of 2021, and the end of 2030?
Although I would love to see bitcoin breach the $250,000 mark towards the end of 2021, I believe it will more likely be in the $150,000 range. We’re long overdue for a decent bull run and I count on November and December being the months that we finally see bitcoin hit the six-figure mark.
As for 2030, I firmly believe that bitcoin is likely to hit the $5 million mark around then, perhaps even going as high as $10 million. Only time will tell. But let’s consider more countries adopt bitcoin, the U.S. cozies up to bitcoin and the majority of companies add it to their balance sheets, how would that reflect in the price? How would a billion or two or three billion people using bitcoin affect its price? We’re going to see the sat standard sooner than later.