If you have been asleep under a mushroom for the last six months or so you may not know that Bitcoin is approaching something called a halving in around 2 to 3 days time. Now, if it is your normal practise to switch off at the merest mention of Bitcoin or crypto, I urge you to change your ways, at least, momentarily and keep reading.
The world of money and finance is wallowing in pig swill right now and if you think that none of that concerns you because that is only of interest to those people with real money then think again.
What happens out there in big money land affects all of us whether we have stuffed wallets or not and the main money system is in crisis. This means that pension funds, life assurance funds, union funds and just about everything that is investment based and helps to pay you now and in the future is struggling to find a safe place for all of our money. If this crisis hits the banks again then it could even affect the money you are spending right now.
Bitcoin halving is a significant event alone, but what could prove to be an even more significant event happened yesterday when the CEO of one of the worlds' biggest hedge funds told the press that it was time for his fund to get into Bitcoin. There is a link to the Bloomberg article covering this at the bottom of this email. The man that made the statement is Paul Tudor Jones of Tudor Investments.
Here is a direct quote from the Bloomberg piece:
“The best profit-maximizing strategy is to own the fastest horse,” Jones, the founder and chief executive officer of Tudor Investment Corp., said in a market outlook note he entitled ‘The Great Monetary Inflation.’ “If I am forced to forecast, my bet is it will be Bitcoin.”
This move from a hedge fund manager with clout moving away from the "establishment" stance on crypto must have a ripple effect on Bitcoin buying and will push the price up. I have no crystal ball and so cannot guarantee that this will happen but I have never seen two absolute positives (for Bitcoin) converge like this before.
The time to act upon this potential asset grab, if you agree that halving coupled with hedge fund involvement is likely to push up the price, is RIGHT NOW. If you spend time pondering this one you could miss that first and all important push up. In truth I am already telling you this a good day later than I would have liked.
I have a video I made about the effects of halving that I was holding back as a bonus video for the new First Class Crypto course that's coming. If I can, I will try to make that available in the next day or two as well. But for now, I will have to settle for a step by step action plan you can instigate right now to get yourself some Bitcoin in short order.
First a CAUTIONARY NOTE!
I am not an investment advisor. This could all become a storm in a tea cup. It may be possible that, even though Bitcoin halving alone has created dramatic increases in the Bitcoin price previously, it may not this time. And whilst those previous increases have come about even without hedge fund managers telling us they are getting some money in themselves, it is possible that the expectation of big increases now prove to be misguided.
The point is, you must make your own decision here and of course, you must never ever use any money you cannot absolutely afford to lose. That's the rule of the money jungle I'm afraid. No-one else but you is ever responsible if you make a decision that proves to be a bad one. I know, I'm going over the top now with this stuff but just because I am prepared to take a punt on something doesn't mean that you should.
Of course we are all losing money we can't afford to lose right now, like it or not. Because as the Government prints more and more of it to "prop up" the economy it is having the effect of devaluing its spending power at an advanced rate. If it keeps up they could halve the spending power of our cash within no time at all.
That all said, Bitcoin has now been around since January 2009 and every single day of its' existence has been plagued with stories of Bitcoins' impending demise. Yet is is still here 11 years later and, right now it is sitting at around £8,000 in value.
It could literally double, treble or even quadruple in price and go beyond even that - you choose where you think it will go (let us not forget that its price has reached just over £16,000 ($20,000) in the past. And it has never had the endorsement of a big hedge fund CEO before.
You decide...
So, here's what I would be doing right now if I wanted some Bitcoin action:
1) I would open an account at WIREX - why WIREX? Because this is the easiest way I know of getting started with Bitcoin today.
(Just so you know and in the interests of full disclosure, every WIREX account holder gets an introducer link that pays out a little when an introduction buys some Bitcoin - you will get one too when you open your account).
My good friend Graham just made a video on opening a WIREX account so you can watch that by clicking here if you like >>>
2) You will need a smartphone to get an active WIREX account. If you don't have a smartphone, there are other ways to get started but in the time frame allowed here, I can't go into those.
3) WIREX account opening requires email verification (so use a good email address) and KYC (know your customer) steps. This is where you need the smartphone as you will be asked to submit pictures of ID etc using your phone.
4) Once your account is set up, WIREX acts just like a normal bank account. You can send GBP or EURO to them (or USD if you are in the States) by bank transfer or even debit card and then have this exchanged internally for Bitcoin. If you want to start small you can and then when you are more comfortable with the procedure, just add to your Bitcoin funds.
That's all you need to do for now,. Buy some Bitcoin, sit back and watch over the next few days, weeks. I will get more information out as my First Class Crypto project gets nearer to launch and I am always here to help with any questions you may have.
John
NB: Here's the bloomberg article mentioned above.THE ARTICLE.
Please be aware that Bloomberg don't like you to use their site too many times for free but you can generally look at two or three articles before they insist on you subscribing.
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