“You know it's time to sell when shoeshine boys give […]
Bitcoin Q&A with Andy Swan
With Bitcoin racing to all-time highs, and nearing $100,000... we asked LikeFolio founder Andy Swan a few questions in a very quick Q&A session... here were his answers:
You've been bullish on Bitcoin for a long time... does the recent run to $90k+ make you think about "taking some off the table"?That's a question I get a lot. The answer is absolutely not. This move is CONFIRMING our thesis that Bitcoin is THE digital and decentralized store of value of the future. Besides -- what would I receive for selling Bitcoin? Dollars?
LikeFolio was mocked (even just a couple months ago) for the $100k in 2024 prediction that Landon made. What's your 2025 price target for Bitcoin?We haven't established one yet. It's too early. We could be anywhere from $60k-$160k at the end of 2024. That said, I see no reason why 2025 would be a worse year for Bitcoin than 2024.
FOMO is starting to kick in -- people want to know if they've already missed the boat on Bitcoin... what would you tell them?I tell them that if you're thinking about "timing" Bitcoin, you don't understand Bitcoin. Volatility will be high, and that's a GOOD thing. Volatility is vitality. On a 10-day or 10-month timeframe, I don't know when the best entry will be. On a 10-year timeframe, I believe that "right now" is always the best answer.
Does that mean you think Bitcoin can go substantially higher than $100k over the long haul?I think people will look back on buying Bitcoin below $100k the way we look in awe at the guy that bought Miami beachfront property for $1000/acre.
What are the key drivers of Bitcoin's appreciation so far, and what will be the drivers in 2025 and beyond?First and foremost is the debt and money-printing of governments around the world. That's the foundational driver of demand for Bitcoin as a store of value with limited supply. The secondary driver that is acting like an accelerating flywheel on top of that foundation is the recognition and embrace of Bitcoin as a store of value (digital gold) by institutions. The ETFs were just a spark... the flame comes from SP500 companies adding Bitcoin to their balance sheet, and the explosion comes from sovereign nations adding Bitcoin to their reserves.A race to acquire Bitcoin has begun, and the largest players in the history of the world are starting to get involved.
Is there still risk with Bitcoin?Of course. The risk is still very high. This is what allows for asymmetric upside. Once the risk is out of Bitcoin, it will trade much more like Gold.
Final question: What would you say to someone who says "should I buy Bitcoin here"?If you're asking that, you don't understand it. You haven't done your homework. I can tell you this though -- I bought Bitcoin yesterday. I bought Bitcion this morning. I will buy Bitcoin tomorrow.Everyone buys Bitcoin at the price they deserve.
Fair enough! Thank you for this Q&A -- any final thoughts?Stick with LikeFolio. Follow Michael Saylor on Twitter and Youtube. Learn as much as you can... this is POTENTIALLY the only chance in our lifetimes to actually front-run the institutions. It's an exciting time... enjoy!