Bitcoin has come a long way since its inception in 2009. The digital asset has caught the attention of mainstream investors and analysts due to its rapid growth in value over the years. However, according to a recent statement from economist and cryptocurrency analyst Alex Kruger, the era of investors getting rich from Bitcoin is over.
Time for investors to get rich, says economist Alex Kruger #bitcoin passed @kruger macro https://t.co/KLdGOI4Rt5
— Kyptos (@azcoinnews) April 2, 2023
Kruger, who has more than 153,000 followers on Twitter, believes that Bitcoin has transformed from a get-rich-quick medium to an asset class that can serve as an alternative to fiat systems for asset preservation, value preservation, trading, and hedging. In a recent tweet, Kruger said:
“People should no longer be buying bitcoin to get rich. That ship has sailed.”
Despite bitcoin’s shifting role in investors’ portfolios, Kruger sees a chance for bitcoin’s price to rise more than 10-fold, possibly peaking around $150,000. He also listed 8 reasons why BTC’s current market structure is on the verge of a bullish reversal, including long-term indicators turning green, rising from the 200-day moving average, and rising above the current key resistance level.
Krüger’s assessment of Bitcoin’s role as an asset class rather than a get-rich-quick vehicle runs counter to the narrative that has surrounded the digital asset since its inception. In the early days of Bitcoin, many investors saw it as a speculative investment that could get rich overnight. However, as the digital asset has matured, it has evolved into a store of value and a hedge against inflation.
In conclusion, while Bitcoin may no longer be a get-rich-quick tool for investors, it still has value as an asset class. Krüger’s analysis provides insight into Bitcoin’s changing role and its potential for future growth. Investors should research and assess their risk tolerance before investing in Bitcoin or any other asset class.
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according to Kyptos