Lucas Broyles forecasts a bright future for Bitcoin, presenting it as a resilient and decentralized alternative to traditional currencies.
Youtuber Lucas Broyles has shared an interesting video in which he breaks down how the current economic situation in the United States could boost the value of Bitcoin in the future. His explanation is so lucid and well-founded that it is worth reviewing it in detail.
Today, Broyles has tweeted the following:
“$100,000,000 Bitcoin… NEW unfiltered rant about Bitcoin, inflation, debt, and the long term future. Few understand how scarce BTC is, how rapidly political currency is debased, or why we save in stocks/bonds at all.”
The Unsustainable Debt
Lucas Broyles has expressed concern about America’s growing debt, which has skyrocketed today from $64.8 billion in 1860 to $32 trillion. Broyles insists that this growth in debt is unsustainable and will eventually trigger an economic crisis.
Broyles is also concerned with the country’s unfunded liabilities, that is, liabilities for which there is no financing plan in place. According to him, every minute $30 million is added to these unfunded liabilities.
The Youtuber points out that traditional currencies are subject to inflation and devaluation. He notices that the prices of goods and services are constantly increasing, which shows that the value of money is decreasing.
In his opinion, people’s trust in traditional money is fading. He argues that people are looking for safer assets to invest in, such as houses, gold, as well as other tangible assets.
Bitcoin: An Alternative to Traditional Money
Broyles sees Bitcoin as an alternative to traditional currencies. He alleges that Bitcoin, thanks to its scarcity and decentralization, is immune to the problems of inflation and devaluation that affect traditional currencies.
Broyles believes that Bitcoin has a great future due to its strength, durability, and immutability. He believes that Bitcoin will maintain its purchasing power better than other assets such as houses or companies.
Furthermore, he considers Bitcoin as a fully reserved system, in contrast to the fractional reserve system that supports traditional fiat currencies. Broyles argues that Bitcoin does not need the infinite expansion of debt characteristic of traditional currencies, and sees it as a low-risk haven for purchasing power.
Broyles emphasizes the scarcity of Bitcoin, with only 21 million Bitcoins to be mined. He believes that this scarcity, along with the increasing difficulty in mining new Bitcoins, will increase the value of Bitcoin over time. Broyles suggests that the value of Bitcoin could reach astronomical levels, potentially in the billions of dollars per BTC, if it continues to keep pace with US unfunded liabilities.
In addition, the Youtuber believes that Bitcoin represents the future of money. He argues that as trust in traditional currencies wanes, Bitcoin’s value will continue to grow. He considers Bitcoin the most difficult asset to replicate, which makes it the most valuable.
In short, Lucas Broyles has an optimistic view of the future of Bitcoin. He sees it as a superior alternative to traditional currencies due to its scarcity, resistance, and because it operates as a fully secretive system. He believes that these factors will drive the value of Bitcoin to unprecedented levels in the future.
By Marina Meza
