Skeptics like to knock Bitcoin (CCC:BTC-USD).
I get it. It happens with game-changing innovations before they are fully understood.
But it’s interesting that these skeptics are starting to come around.
In 2016, JPMorgan (NYSE:JPM) CEO Jamie Dimon called anyone who owned Bitcoin “an idiot.” Now, JPMorgan even has its own cryptocurrency … and the firm is preparing a Bitcoin fund for its private wealth clients.
Even more than Bitcoin, skeptics love to take shots at the hundreds of other cryptocurrencies — called “altcoins” — on the market.
It’s a shame because this might be the single most expensive mistake on the planet right now. It could easily cost investors thousands — and potentially millions — in gains …
Right now, there’s a fuse being lit under the altcoin market. Rich people know this, which is why they are taking big stakes in Bitcoin.
They are also taking big positions in altcoins …
- Mark Cuban revealed in 2021 that he owns a number of altcoins, including hundreds of thousands of dollars in decentralized finance (DeFi) platform Aave (CCC:AAVE-USD).
- Tech billionaire and legendary venture capitalist Tim Draper invested millions in altcoins like Tezos (CCC:XTZ-USD), Aragon (CCC:ANT-USD), Ripple (CCC:XRP-USD) and Bitcoin Cash (CCC:BCH-USD).
- Tech entrepreneur Michael Novogratz has approximately half of his $700 million net worth in cryptocurrencies. He says that every investor should put at least 5% of their net worth in cryptos.
- Bill Gates and the Gates Foundation have invested millions in blockchain technologies, including for financial services and virus tracking.
To truly understand the magnitude of this opportunity … and why I believe we are about to see a seismic change when it comes to wealth creation in America … you must understand that the blockchain behind cryptocurrencies is truly going to change the world.
Blockchain is so important because it’s the latest “indispensable information infrastructure.”
New infrastructures like the blockchain are transformative because they can revolutionize almost every aspect of society that relies on the safety and spread of information — energy, government, finance, healthcare, and on and on.
And let’s face it, pretty much every part of our economy in 2021 is driven by information.
Understanding all the ramifications of this change can give you a huge edge over the rest of the world over the coming decade.
Blockchain technology could change our lives as significantly as the internet did.
It powers our digital world today. It has made us vastly more productive and lowered the price of just about everything. It allows us to tap into data, images and personal information in ways that no one could imagine. It gave life to social networking, e-commerce, video streaming and innovative companies like Amazon (NASDAQ:AMZN), Facebook (NASDAQ:FB), Netflix (NASDAQ:NFLX), eBay (NASDAQ:EBAY), Alphabet (NASDQ:GOOG, NASDAQ:GOOGL) and Yahoo.
You don’t see these revolutionary new platforms come around that often.
The printing press was the original indispensable information infrastructure. Before it was invented, all knowledge was controlled by the elite and ruling class. People didn’t need to read or write because kings, queens and other members of the ruling class would tell you what to think.
But the printing press changed everything.
It pulled Europe out of the Dark Ages. The literacy rate began to drastically climb. And it accelerated human progress at a rate not previously seen … and not seen again until the advent of the internet.
New revolutionary ideas could be quickly produced and shared with the masses. And ancient wisdom from philosophers like Plato and Aristotle could be placed in every person’s hand.
It laid the foundation for the scientific revolution and allowed ideas to be shared and challenged. The ability to spread ideas and form new public opinion gave birth to the French and American revolutions.
We might not have a modern democracy — or maybe even a modern country — without the printing press.
The internet took the next big step, spreading ideas and data faster and more widely than anyone could have imagined.
And the next evolution is the blockchain. It is also going to disrupt those in power today.
It’s going to change how you search for things online, buy goods and services, borrow money, heat your home, interact with people online and more. All those activities are controlled by a handful of institutions that have a lock on our media, banking, credit cards, energy, healthcare … even political power.
When you control information, you control people. But the blockchain, even more so than the printing press or the internet, can’t be controlled by a central power.
That’s why it’s already being called “the new internet” or “Internet 2.0.” It gives the power back to the citizens … to the consumer … to the patient and to the individual. The blockchain can make everything more transparent, efficient and honest.
This is happening right now, and probably only one in 1,000 people understand it. It’s about to unleash a tsunami of new wealth and mint new millionaires and billionaires. The next Bill Gates or the next Jeff Bezos may well be a blockchain entrepreneur.
I believe anyone who acts now could turn a small investment into a lifetime of wealth.
On the date of publication, Matthew McCall did not have (either directly or indirectly) any positions in the securities mentioned in this article.
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