Bitcoin going to the moon more than 20,000 USD per Bitcoin. So this is important news, along with that, lots of stuff is going the right direction right now. So, NIO has broken through the downward channel possibly seeing more green days from now on and Baidu stock finally breaking out. You guys know that I’m long. I published a couple of Patreon posts around that also and discussing the Q3 earnings as well as my price targets and napkin business case.
Um, that’s it for now. I will surely make an updated video on that, but today I need to talk about well – Bitcoin, because, um, it’s been since October when I started making videos about it, I mentioned it also in my Patreon posts, I am long Bitcoin and I want to increase my position going from 1% to 2% in my portfolio. And now Bitcoin is already up 100% since then. And now it’s also a crucial moment in time because 2017, this is where Bitcoin has actually spiked roughly at $20,000 per Bitcoin.
Then we saw the big sell off. And I think this time, actually, and this is my video about that. I think it’s not going to happen. A couple of things have happened since I went, more bullish in Bitcoin. And I’m going to show you what I think will happen in the short-term future, how I’m going to play with it. And, um, yeah, what has changed since? So, so first of all, this is not a discussing bear versus bull thesis video on Bitcoin.
I have outlined my investment thesis in my first view about Bitcoin. And now I’m just talking about the short term future here. If you want to see more about somebody sceptical of Bitcoin, you can watch David Lee’s investment channel otherwise, for instance, Gali who is really bullish on big conscious yesterday, did an updated, um, interview actually with Michael Saylor, from Microstrategy, the CEO who has invested lots of his company’s money into Bitcoin, which I also featured in my first video about Bitcoin.
And this is already one of the new topics that are actually coming to Bitcoin. So I talked about back then that now companies like PayPal and MicroStrategy and so on are adding it to the balance sheets as well as that obviously with PayPal and Square, um, it’s getting easier to buy actually Bitcoin.
But, now an interesting thought and takeaway from the video with galley here is that actually, what if Apple is doing the same? Apple, who is well-positioned in the area of, privacy and, um, you know, all those iPhones out there, what if they get a crypto wallet and it’s getting even easier for people who have an iPhone to buy actually a cryptocurrency.
Gali Already made a statement in 2014. So that’s really awesome to see and just thinking about it, Apple really has this, big problem on their balance sheet, which is a huge, huge, cash position and what they’re going to do with that? Lately, the company hasn’t been as innovative, as it has been since the iPhone. So, what’s the news.
What can Apple do on top of that? And it’s actually a nice idea that could even break up this market, even more making Bitcoin more accessible to more people. And then on top of that, investing parts of the balance sheet on Bitcoin, which certainly would drive, the value of Bitcoin even further and why would they do that? Well, because of the same reason why others and for instance, I am also getting into Bitcoin is that we are worried about inflation as well as the entire economic situation here.
We have now, that’s the update since my last time, second lockdown, small closures of businesses, more private and liberty rights are taken away from the citizen. And I think that will have an impact on society in general, but also on monetary policy, and money printing, monetary policy for instance, in Europe, we already have a need for more, subsidies for businesses, more stimulus plans, more printing of money. And so on.
I think in the US we may have to same, in the near-term future as well. So the currencies are inflating, and then you will either put it into stocks or bonds, which are not returning much anymore. And, uh, now this, second thing that has changed, which I think is actually an additional argument on big Bitcoin right now, is that actually, um, the tech valuations have gotten a little bit high, so I see retail investors and some of the influencers out there talking about that – personally, I’m not 100% of that opinion.
I think there are quite some good picks out there and some of those stocks could even run even further, especially in this economic condition with low-interest rates. So I think as long as we see FED not increasing interest rates, I think this bull market will continue, although we will have some corrections and setbacks, as I was worried about, for instance, lockdowns as well, just in my point of view, this is not a reason to an argument for Bitcoin as a new asset class where investors can store their value and money, from, for some sort of time and with some additional benefits on top of that, on which I’m not going into that.
So with that, I’m thinking that we possibly have support, around close to 20,000 USD per Bitcoin area possibly be a backseat to that one. Um, other than that, if that doesn’t hold, I think we could go as low as 18,888 USD per Bitcoin.
So my Chinese viewers may be really happy about this lucky number. Other than that, I think we should actually go more towards, 22,000 or maybe even up to 24,000 USD per Bitcoin quickly soon, because I think now that this big psychological barrier has been broken, there will be another run.
Bitcoin will have more media attention. More and more institutions are getting, possibly more confident about Bitcoin as I have personally also gotten during this period, that I started accumulating more Bitcoin. And so with that confidence, I think we would rather see an increasing ramp of the Bitcoin price here in the foreseeable future.
So this for me personally also means that despite I just doubled down on Bitcoin, I will do another doubling down now. And that’s also because of one reason, which is almost embarrassing to talk about already is to just find out that in Germany, you don’t pay taxes on gains off Bitcoin if you hold them for more than one year and I’m already planning to hold it for a very long time, as I’m always am a buy and hold investor.
So, this is actually a huge advantage against even making the investment in stocks here, because if, if, uh, an investment grows a 10X let’s say from 1000 EUR to 10,000 EUR with the stock, I would have to pay 2,500 euros in taxes, but with Bitcoin in Germany, if I hold it more than one year and none of the taxes on the game, so that’s really awesome.
And that’s once again, in this environment where people are starting to question the tech valuations and, but cash is certainly not safe with, inflation on the horizon, as well as where do you put your money? I think those kinds of questions will be resonating with more people in the foreseeable future and then with easy access to Bitcoin and possibly more confidence as the price hopefully stays up there.
That could kind of be a self-fulfilling prophecy in a way. This is not based on any new insight on whether or not there is some true scarcity or true value in Bitcoin and whatever, but you know just do arguments coming together for me make just so much sense for me to personally double my investment in Bitcoin, even at those high prices there, because I think it’s likely that we even see higher prices in the future. So you may disagree on that, I hope yours or do your own due diligence.
You should not trust, um, any YouTubers out there do your own due diligence to make up your mind. Does it make sense in your personal, uh, situation to invest in Bitcoin if you can’t invest in Bitcoin, you could think even about buying Microstrategy stock because to have invested a large part of their company assets into Bitcoin. So, whenever Bitcoin goes up strategy also going up, and I personally used it even to, um, get some exposure to call options with Micro strategies. So yes, I’m definitely biased here. I am a long Bitcoin bull. And for me just makes a lot of sense, definitely going to do an update on, more of the philosophical and technical discussions around Bitcoin. But for me right now, this is just an update on the short-term price actions and what I’m personally doing with that.
So I hope you enjoyed that. Please leave some comments down below, let me know if you’ve already invested in, or if you’re still sceptical about Bitcoin and then see you in the next videos possibly about Baidu, um, or NIO, and as well as one FUTU and TIGR Brokers. I’m still working on that. Sorry, it took me quite a bit of time, but I really want to make it, substantiated and well thought through.