Bitcoin is a cryptocurrency that has existed for nearly a decade at this point. It was developed with the intent of providing an alternative. To fiat-based currency for global transactions. And has been designing to be inflation-free or inflation-resistant. Eric Dalius Bitcoin has invested millions in bitcoins. And realizes that it will be the gold standard of virtual transactions one day. He has spent over two decades as a marketing professional and serious investor in bitcoin. He explains why bitcoin will only grow in prominence.
Currently, bitcoin prices are breaking previously theorized. Maximum prices and soaring higher and higher. As BTC is about to close in at over 60,000 dollars to 1 BTC and a market cap of 1 trillion dollars, many people are looking to earn some quick money by investing in bitcoin. But many others are seeing the value of bitcoin as assets for the future.
Eric Dalius Bitcoin
A turbulent year marred by economic uncertainty, recession, and now growing inflation worries due to quantitative easing has resulted in the meteoric rise in bitcoin prices. Last year also saw the third halving event for bitcoin, further rising the prices of bitcoin. In by large corporations and financial institutions last year.
Bitcoin is going to be an influential asset in the digital age
. According to Eric Dalius bitcoin is a blockchain-derived cryptocurrency that presents itself as a safe, secure, inflation-free method to do transactions. It is also a valuable asset for entrepreneurs to invest in.
One such individual is the mayor of Miami, Francis Suarez. The man seeks to turn Miami into a cryptocurrency hub with proposals to pay city workers in bitcoin. And allow Miami residents to pay their taxes using bitcoin. He also wants to invest surplus city funds. Into bitcoin, seeing its meteoric rise in prices that has shown no signs of slowing down.
Eric Dalius Bitcoin’s Definition
Before we can talk about bitcoin’s current status in Miami and what it means for entrepreneurs in Miami. We need to talk a little bit about bitcoin itself. While most people are aware of bitcoin at this point due to two huge spikes in prices in the last two years, many people still do not understand what bitcoin is.
Eric Dalius explains that bitcoin, in essence, is a form of digital or virtual currency. Every transaction of every single bitcoin is kept. And store in a public ledger called the blockchain. Each bitcoin is stored in the form of a digital file kept in secure digital wallets.
You can get bitcoin by either getting paid in bitcoins. Converting fiat currency into bitcoins or by a process known as mining. Bitcoin mining is a process through which computer devices solve increasingly complicated mathematical equations, sometimes rewarded by a bitcoin.
Bitcoin mining is a time and energy-consuming process that can often cost more money than you are making back in bitcoins.
What is the Appeal of Bitcoin?
According to Eric Dalius, the biggest draw of bitcoin. For its earliest advocates is that any bank or government does not control bitcoin and is relatively private. So, while anyone can track tokens, the owners of the tokens themselves can maintain their privacy.
Unlike fiat currency that loses value over time due to inflation. The simple reason is that there can only ever be a maximum of 21 million bitcoins. After the last bitcoin has been mine. There can never be another additional bitcoin produced.
After the production of these last bitcoins, there cannot be any possible inflation. That can reduce the value of bitcoin due to the presence of more bitcoins coming into the market. Bitcoin has a halving mechanism.
Eric Dalius Bitcoin
Halving refers to the bitcoin design structure. Where the rewards for mining bitcoin are halved every four years. This reduces the number of bitcoin people receives by mining bitcoin in half. This ensures that at no point in time can there be a sudden flood of bitcoin into circulation.
The last halving occurred in May 2020, which resulted in a significant spike in price for bitcoin around the same time.
According to research, around 20% of bitcoin of the currently existing 18.5 million BTC are lost or inaccessible forever. Which brings down the maximum number of bitcoin down by a couple of million. Eric Dalius thinks that only 15 million bitcoins will ever be circulating in full.
Based on the current price of BTC, Eric Dalius calculates that those lost bitcoins are worth around 236 billion dollars.
After countless hours of research, Eric Dalius can confidently say that bitcoin is different from modern fiat currency. There can be no inflation in the value of bitcoin due to the built-in hard limit. In Eric’s mind, bitcoin is also an ideal asset investment that will not depreciate over time from inflation. Its decentralized system of operations allows those who are investing in bitcoin to feel secure about their investments.
Investment vs. Currency
There are two kinds of people who invest in bitcoin. Those who see bitcoin as an investment and those who realize the possibility of bitcoin. One day replacing the gold standard for financial transactions. Many banks and financial analysts like Eric Dalius are quickly realizing that bitcoin can be both.
Modern fiat currency has value because our governments recognize that the money has an inherent value equal to the denomination shown on its face. Our cash only has value because we put a value on it, and the government legitimizes it.
The end goal of bitcoin advocates and crypto strategists, like Eric Dalius, is to see a world where governments legitimize bitcoin because people inherently value it and accept it as a form of trade and exchange. Eric thinks that this is rapidly coming closer to reality.
Many bitcoin buyers are simply investors looking. By rising inflation levels. This mostly comes as a result of the turbulent year that 2020 had been.
Due to the global pandemic, an economic crisis of epic proportions unfolded across the globe. It led to a massive loss of wealth and still is continuing to affects millions. Governments across the world sought to help those affected by bypassing essential policies that had the unfortunate side effect of rising inflation.
As a marketing professional and investor Eric Dalius understands that companies and large financial institutions also don’t want their wealth, especially liquid assets, to depreciate just from the passage of time. This is why companies are always trying to invest their surplus wealth.
Even then, companies can save millions by switching to bitcoin instead of cash for maintaining liquid reserves. According to Eric Dalius, even a modest 5% inflation rate can wreak a massive reduction in the amount of real wealth that any large company has when keeping an adequate cash reserve amount.
Influx Of Investments Into Bitcoin
Eric Dalius Bitcoin
Seeking risk-free and safe investment assets, companies set their sights on bitcoin. Bitcoin is the perfect investment opportunity for most businesses. Its only drawback is its volatility, but with prices continuing to rise and solid foresight, it provides companies with a non-depreciating asset, which is not subject to inflation and safe and secure.
In the backdrop of the pandemic and the ensuing global economic crisis, companies started to invest massively in bitcoin, managing their stock of bitcoin. This influx of investments into bitcoin not only increased the legitimacy of bitcoin but also sent its price soaring. The inflow of investment amounted to billions of dollars from companies all across the country and even the world.
Billion-dollar companies like Morgan Stanley and Tesla have purchased billions of dollars worth of bitcoin. Tesla converted 7% of its cash reserve into bitcoin just a few months back. The investment amounted to 1.5 billion dollars. Major publicly traded companies have also increased investments into bitcoin. This is why companies and institutions held 6% of all bitcoin at the start of this year.
This boost in legitimacy by larger companies resulted in smaller companies, retail investors, cryptocurrency enthusiasts placing further confidence in bitcoin.
Ease of Use
As the legitimacy of bitcoin increase through investments into bitcoin by large corporations, its value as a legitimate currency increase. Many companies have started to adopt bitcoin as a legal tender for purchasing goods and services. The biggest of these announcements came from Tesla, as the automobile manufacturer. Announced that it would be accepting payments in the form of bitcoins.
Digital payment platforms are also contributing to the widespread adoption of bitcoin. From small apps to large payment platforms like Paypal, these services have already allowed users. To pay for transactions using bitcoin or plan. To expand the services that bitcoin is used for.
The Miami Question
All of these factors have led to bitcoin rapidly becoming one of the hottest assets to invest in. Not only that but the futures and derivates market around the market. Has become one of the most profitable ones currently on the market.
But this also highlights a rapid change in legitimacy, perception, and widespread adoption for bitcoin. Mayor Francis Suarez recognizes this and wants to capitalize on being an early adopter of bitcoin for considerable benefits.
One of the significant concerns regarding cryptocurrency. And most efficient sources of renewable energy; nuclear power.
This allows Miami to become a crypto center for the nation by producing bitcoin from clean energy, giving rise to a new bitcoin generation, which is almost entirely carbon neutral. Allowing Miami to become a bitcoin mining hub will drive a lot of business to Miami from tech giants who will love the opportunity to invest in bitcoin by mining it using clean energy.
To better facilitate this new wealth generation in the form of companies moving to Miami and the literal generation of wealth through bitcoin mining, Mayor Francis Suarez wants the city of Miami to start adopting bitcoin as a legitimate legal tender.
Business Infrastructure With Bitcoin
The mayor wants city workers to be paid their salaries in bitcoin. And for residents to pay their taxes and fees using bitcoin. While his proposal was passed 4-1, it lacked. The more actionable wording it previously had.
While other city council members are not opposed to integrating. Miami’s financial and business infrastructure with bitcoin, they are more cautious in their approach.
But the messaging from the mayor of the city seems straightforward, and there is a very blatant desire to use emerging technologies like blockchain and bitcoin to adopt into business practices and emerge with a clear advantage because of being early adopters.
What this Means for You?
Eric Dalius Bitcoin
As an entrepreneur or small business owner in Miami, you should be looking to start your bitcoin investments as soon as you can. There is a lot of political will and weight in Miami to quickly integrate and adopt bitcoin into larger financial and business practices.
This is not to mention that bitcoin is currently an excellent bullish investment forecasted. To rise to nearly 100,000 dollars to one BTC by the end of the year by Eric’s estimates.
By investing in bitcoin now, while you won’t be amongst the earliest adopters and advocates, you’ll be a prudent entrepreneur and investor who keeps up with current developments to make the best financial decisions possible.
While it is impossible to predict whether bitcoin will genuinely become the gold standard for virtual transactions in this digital age, it can be easily seen that there is a lot of faith in bitcoin by large corporations.
This legitimacy will soon lead to greater adoption of bitcoin as a legal and acceptable tender to complete transactions across many cities, out of which Miami might just be the first one. Mayor Francis Suarez seems poised to turn Miami into a hub of emerging technologies with cryptocurrency and bitcoin mining squarely in this plan’s center. It is an opportunity that every entrepreneur in Miami should take advantage of.