By Teeka Tiwari, editor, Palm Beach Daily
I know the shortfalls of the media. I’ve been a guest on Fox, ABC, and CNBC. And when it comes to most things crypto, they’re usually wrong.
You see, mainstream financial journalists aren’t allowed in the closed-door meetings that I am.
They don’t travel from Miami to Moscow like I do, attending invitation-only meetings. And they definitely don’t have the network of crypto insiders I have.
That’s why you’ll see the media run scary stories saying bitcoin is “worthless.” Or you’ll see headlines quoting JPMorgan CEO Jamie Dimon saying bitcoin “will not survive”… or Federal Reserve Chair Jerome Powell saying bitcoin “has no intrinsic value.”
So it’s no surprise many people think bitcoin is a Ponzi scheme. I can’t blame them. They’re just following the talking heads on TV.
But for the past three years, I’ve spent week after week speaking with ultra-connected insiders and billionaires who do know what’s going on.
And today, I’ll tell you what they’re doing now—and why the future is still bright for bitcoin, despite its recent pullback…
— RECOMMENDED —
The S-Force Method:
How To Make More Money Than You Can With Options – Trading A Group Of Tiny Stocks
The mainstream media love to cite Wall Street elites like Dimon and Powell. It’s easy clickbait. But it’s also lazy journalism…
Look, guys like Dimon and Powell have an axe to grind with crypto.
As I’ve said before, this new asset class will disrupt the global banking system and benefit from the implosion of fiat currencies. So Dimon and Powell have reason to fear.
But if you really want to see what’s happening in crypto, you should look at what venture capitalists are doing. I rub elbows with these guys all the time. And I get my best info from them.
Just last week, I learned one of the biggest venture capitalists in the world is doubling-down on bitcoin.
His name is Peter Thiel. He’s a cofounder of PayPal and an early investor in Facebook. And today, his net worth is $2.3 billion.
Thiel is one of the best tech investors around. He spent years teaching people to accept payments electronically via PayPal—and it made him a billionaire.
Now, he’s doing the same with bitcoin.
According to Bloomberg, Thiel’s venture firm, Founders Fund, has been buying bitcoin since 2012.
And last week, he was part of a $50 million raise for a renewable energy-focused bitcoin mining operation based in San Francisco. The project wants to bring wind-powered bitcoin mining rigs to West Texas by early next year.
So Thiel is putting his money where his mouth is. This is huge news…
But you won’t see it on CNBC or any of the other major financial networks. And here’s something else you won’t see…
— RECOMMENDED —
It’s called Project Mastermind and you can get the full details on how it can help you “catch up” on retirement here.
Another Major Rollout
Last week, Fidelity Digital Asset Services (FDAS) fully rolled out its crypto custody and trading services.
Fidelity is the fifth-biggest asset management firm in the U.S. The firm has $2.7 trillion under management.
It runs a brokerage firm… manages mutual funds… provides investment and retirement advice… and offers life insurance. Your company may even use Fidelity’s payroll services.
We’ve been saying Fidelity would roll out a product since 2017. And it’s finally here.
Fidelity is initially offering crypto trading to a limited number of clients—including hedge funds, family offices, and financial advisors.
And now, it’s the second major financial institution to offer digital asset custody services. Last month, Bakkt—a subsidiary of the company that owns the New York Stock Exchange—launched its bitcoin exchange.
— RECOMMENDED —
Daymond John is teaming up with Jason Bond to showcase this revolutionary
Now, all of this good news doesn’t mean we won’t see prices come down over the short term. I warned you earlier this month not to be shocked if bitcoin temporarily drops to the $7,000–7,500 level. And on Wednesday, we saw it briefly dip below $7,500.
But hear me out when I tell you the demand for bitcoin is on the verge of exploding higher… As this demand surges, so will bitcoin’s price. And it’ll spill over into the altcoin market and trigger an even bigger price boom.
Look behind the scenes, and you’ll see crypto insiders like Thiel preparing for the long term. You’ll see major institutions like Fidelity and Bakkt laying the infrastructure for a new crypto ecosystem.
Of course, there’s still a lot of fear, uncertainty, and doubt out there. The trick is not to draw negative long-term conclusions on bitcoin and crypto assets based on volatility.
The key to profiting is staying disciplined with rational position-sizing. Smaller investors should put no more than $200–400 into a position and for larger investors, no more than $500–1,000. And be sure to use equal position sizes across your portfolios.
And remember, don’t get caught up in day-to-day moves. Instead, look at the big picture… and you’ll see a brand-new asset class is emerging.