Bitcoin at $1 Million
How Sound Money Transforms Economies and Societies
Section 1:
Bitcoin’s Impact on National Economies
Bitcoin’s Impact on National Economies
The journey of Bitcoin from a niche internet phenomenon to a major financial player has profoundly affected national economies and political landscapes. Its rise to $1 million per coin symbolizes more than a valuation milestone; it signals a rethinking of economic systems globally.
In 2021, El Salvador made history as the first country to adopt Bitcoin as legal tender. This groundbreaking move by President Nayib Bukele aimed to drive financial inclusion in a nation where 70% of the population lacked access to traditional banking. Bitcoin's adoption also sought to attract international investment and reduce reliance on the U.S. dollar. Despite the skepticism and volatility associated with the experiment, El Salvador’s embrace of Bitcoin has spurred other countries to explore similar strategies, initiating a wave of national cryptocurrency adoption.
The United States is witnessing a parallel shift. In the 2024 elections, Bitcoin was a central topic, with then-candidate Donald Trump openly supporting its adoption. His pro-Bitcoin stance resonated with voters concerned about the nation’s escalating $36 trillion debt. Trump proposed incorporating Bitcoin into national reserves, presenting it as a potential hedge against economic instability and a tool to reduce national debt. This bold idea, while controversial, reflects growing recognition of Bitcoin as a viable economic alternative.
This evolution is part of a broader societal change described by the “Overton Window,” a framework for understanding shifts in public opinion. Initially dismissed as a tool for criminals and technophiles, Bitcoin has steadily gained legitimacy. Institutions, corporations, and now governments view it as a strategic asset, a transition that took just 15 years instead of the expected decades. This rapid shift underscores Bitcoin’s disruptive potential in transforming how national economies operate.
Bitcoin’s rise demonstrates that decentralized financial systems can challenge traditional fiat economies. By offering an alternative to inflation-prone currencies, Bitcoin provides nations and individuals with a hedge against economic instability. As its adoption expands, Bitcoin is poised to become a cornerstone of national economic strategies worldwide.
Section 2:
Housing Market
From Asset Bubble to Rationality
The housing market today is a microcosm of the broader problems caused by fiat money. For decades, real estate has been viewed not only as a place to live but also as a prime vehicle for wealth storage. In an inflationary system where fiat currencies lose purchasing power over time, people turn to tangible assets like housing to preserve value. This phenomenon, often called "land banking," has led to skyrocketing housing prices, making homeownership unattainable for many.
