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Economy , Investing

The Threat of Bitcoin

March 1, 2024
threat of bitcoin

Last night, at dinner, I overheard the wildest conversation of my life. I’m going to tell you what I heard, but I can’t say exactly where it happened. As you’ll see, there are reasons why I shouldn’t be sharing this…

All I can say is that this happened in South Florida. That’s a big enough region to make the precise location of last night’s dinner vague. But, it’s also the exact area where most of the world’s elite congregate during this time of year.

“This is a direct threat to the military industrial complex,” he said.

I was sitting right next to the table where I heard this statement. I wasn’t even intentionally listening in, but for some reason ‘military industrial complex’ made my ears perk up. I hadn’t listened to anything they were saying prior to hearing that.

It was four people – two older men with two women, who I assume were their wives. These two guys, who I didn’t initially recognize, looked almost like brothers. But they weren’t. The reason I know this is because as I was leaving dinner, it hit me – I recognized one of the men. I don’t know him personally, however I’ve seen his face many times… just never in person.

“I’m serious,” he continued, “This is a major threat to a lot of people. This could really shake things up.”

I was trying my hardest to eavesdrop and at the same time stay engaged with my own table’s conversation. I tried to pay attention to both at the same time.

“If this trend continues,” he said, “It’s going to be very hard to keep funding these projects. There are going to be a lot of companies that depend on this industry.”

I wondered, What the hell are they talking about!?

And then, like a grenade explosion that only I could hear, the word left the old man’s lips… “Bitcoin.”

The Threat of Bitcoin

Driving home last night, I contemplated writing about what I had heard at dinner. Obviously, I chose to write about the encounter, but not for the reasons you may think.

Yes, it’s true that what I overheard at the dinner table next to me made my jaw drop. Not because I was surprised of the messaging, but because of who was saying it. As an older man, who is not in the general crypto-demographic, it was almost unbelievable to hear the words coming out of his mouth.

The way that he explained the threat of bitcoin was so simple and yet so specific. He hit the nail right on the head – almost better than I’ve heard anyone explain bitcoin. And that’s probably because the threat is so relevant to him.

To be clear, he was specifically talking about the price run up in crypto that has been happening. For the most part, it sounded like he was parroting the narrative that has been going on in mainstream financial media, which has mostly been related to bitcoin ETF’s.

However, the part he articulated very clearly was how he believed that our economy, which is powered by the military industrial complex, is in deep trouble. 

Again, to be clear, these were his words. This is not my opinion or forecasting… I’m just sharing what I heard.

It’s All Relative

There are two reasons I chose to share this story:

  1. There are very powerful and wealthy people who are starting to realize what bitcoin can and will do to our economy and society. And I happened to get a preview of one of those conversations.
  2. The rise in bitcoin’s popularity isn’t just about price. It’s about power, influence, and sovereignty.

I’ve been writing about bitcoin for years now. I first bought in 2012 – and lost it all. I’ve recommended many, many times for people to slowly dollar cost average into bitcoin.

If I was honest, I’m surprised about what is happening now… and what I think is going to happen next. I don’t have a specific time frame or even price target, but I think cryptocurrencies are going to significantly shape the way our world evolves in the coming years.

I’ll use a quote from Mayer Rothschild as an example: “Let me issue and control a nation’s money, and I care not who writes the laws.”

Then, I ask, what happens when a centralized power can neither issue nor control the money supply? And then what happens when decentralized individuals own that money?

Everyone views bitcoin based on how it will effect them personally. Bitcoin will effect everyone. Both statements are true.