Market analyst and podcaster Preston Pysh says the anonymous Bitcoin (BTC) creator Satoshi Nakamoto built a nearly priceless marketing feature straight into the top cryptocurrency.
In a new interview on the What Bitcoin Did Podcast, Pysh says Nakamoto’s coding and economic genius is centered on BTC’s limited supply of 21 million coins and the fact that each BTC can be divided into 100,000,000 smaller units known as satoshis.
“I think that you’re definitely dealing with some sort of savant but on a level that it’s not just in one field of study. It’s pretty much in like all fields of study. Which makes you kind of think, ‘Well then they’re had to have been more than one person because no one person could possibly have this much foresight and this much expertise in this many areas.’
Even from a branding and marketing standpoint, the fact that Satoshi only made it 21 million coins but had 10 to the negative 8th units to the right of the decimal… you could argue it’s a $500 billion to $1 trillion marketing strategy, with the amount of buzz that it creates when the price goes over $200,000, and it goes over $100,000. Can you imagine if you were going to put a price tag on the marketing that that’s going to create?”
Pysh thinks the countries struggling the hardest will be the first to see the value of Bitcoin. Conversely, he says the US will likely be the last country to fully embrace BTC due to the omnipresence of the dollar. Overall, the analyst believes Bitcoin’s price is about to take off.
“I could picture [in] 2021, Time Magazine’s story of the year is one thing, and it’s Bitcoin.”
Pysh also thinks gold is going to perform well relative to the stock, bond and commodity markets, but relative to Bitcoin, he says it’ll be “a travesty.”
“If Bitcoin didn’t exist, I would be probably one of the biggest gold bugs in the world right now, and I would own gold miners. I’d own all that stuff. But Bitcoin does exist, and where I think gold is going to run into a problem is it’s so slow to transact…
Throughout history, when you go through a currency crisis, it’s all about how fast can you get into whatever the new currency is.”
Despite his optimism, Pysh says BTC does face a number of significant regulatory risks, including the possibility that various governments may try to ban and confiscate the top crypto asset.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/GrandeDuc