And its journey there took just 12 years.
That’s half the time it took Amazon.com (AMZN) to hit the trillion-dollar mark.
And it’s one-third of the time it took Microsoft (MSFT) to manage the same feat.
Bitcoin’s meteoric ascent sounds like something from a sci-fi novel. I (Chris Lowe) have never seen anything like it in the two decades since I started out as an analyst.
In 2009, someone calling himself (or herself or themselves) Satoshi Nakamoto released a new type of electronic cash… one that didn’t rely on any central or commercial banks to issue it.
It became the world’s first decentralized system for securely transferring value online. And it’s now worth more than the three largest banks in the world – JPMorgan Chase (JPM), Bank of America (BAC), and the Industrial and Commercial Bank of China – combined.
It’s also worth more than the two largest payment processors – Visa (V) and Mastercard (MA) – combined.
But don’t worry if you missed out so far. The crypto megatrend still has a long way to play out…
Soon… a different breed of crypto will hit the $1 trillion milestone.
As this happens, colleague Teeka Tiwari says the gains will outstrip even the otherworldly gains of bitcoin.
That’s when he added bitcoin to the model portfolios at our Palm Beach Letter and Palm Beach Confidential advisories.
Back then, one bitcoin set you back just $428.
That’s a 13,407% gain for subscribers who acted on his recommendation. That’s enough to turn every $1,000 grubstake into $135,066.
As I’ve been spreading the word on in these pages, he believes bitcoin should be a cornerstone asset in everyone’s portfolio.
It’s the equivalent of “digital gold.”
But if you want truly life-changing gains… Teeka says you have to look elsewhere in crypto.
Here’s how “Big T,” as his readers call him, explained it recently…
As much as I love bitcoin… as much as it’s been a gift to me and the readers who’ve stuck with me since 2016… I’ve got bad news. The type of wealth those readers have had the chance to make… that’s over. Unless you’ve got hundreds of thousands of dollars to invest… you’re not going to grow truly rich investing in bitcoin now. It’s too late.
Don’t get me wrong, the party isn’t over. We could easily see bitcoin rise 10-20x. I also stand by my earlier predictions that the cryptocurrency market could go to $2 trillion. I don’t think $20 trillion is out of the question. But if you want the opportunity to see truly life-altering gains… you’re going to have to go beyond bitcoin.
Bitcoin is the first and most famous crypto. It accounts for about two-thirds of the “crypto market cap” of $1.8 trillion.
That’s the sum value of all tradable cryptos.
Cryptos other than bitcoin – aka altcoins – account for the other one-third, or roughly $742 billion, of that overall value.
Most of these altcoins will fail. But Teeka believes some of them will go on to rival bitcoin in size.
Despite the name, most cryptos aren’t currencies.
There are some altcoins that compete with bitcoin (BTC). For instance, Litecoin (LTC)… Bitcoin Cash (BCH)… and Monero (XMR).
But other altcoins give their holders some utility other than transferring value online.
For instance, Storj (STORJ, pronounced “storage”) allows you to store excess data online when you spend it…
Web browser Brave’s Basic Attention Token (BAT) allows you to tip online content creators…
And Golem Network Token (GNT) allows you to combine computers around the world to create a supercomputer you can use to process data.
Like phone apps, they have different functions. But there’s one major difference…
Centralized internet apps include Facebook (FB), Twitter (TWTR), Google (GOOG), and Amazon.com (AMZN).
These apps are all run by corporations with boards of directors. For instance, one person – Mark Zuckerberg – controls the entire Facebook network.
And as we’ve seen over and over, Zuckerberg and other Big Tech CEOs censor and manipulate the networks they control.
But crypto apps run on blockchains and are decentralized, like bitcoin. So they’re censorship-resistant and tamperproof.
Don’t be put off by the jargon… A blockchain is just a network that allows users to execute transactions without involving a third party, like a bank.
And it proved these types of apps were secure.
The bitcoin blockchain has been running 24/7… 365 days a year… for more than a decade. Nobody has successfully hacked it.
There’s not a bank or traditional online payment processor that can say the same thing. Even central banks, like the Fed, get hacked.
The security of blockchains… and their ability to cut out costly middlemen… has given rise to a whole new industry.
After the success of bitcoin, blockchain developers are turning their attention to other crypto apps – aka decentralized apps, or DApps.
Here’s how Greg Wilson, Teeka’s chief analyst, explains it…
If you’re not familiar with the blockchain technology – it isn’t much different from the internet. Both are massive data networks. The difference is the internet is centralized and controlled by middlemen. Blockchains are decentralized and peer-to-peer.
DApps are the blockchain equivalent of internet apps. For example, the Uniswap DApp allows you to trade cryptocurrencies without a middleman. It’s similar to the way your TD Ameritrade app allows you to trade stocks.
There are DApp games, too… such as blockchain-based Axie Infinity. It’s a battle game like Clash of Clans. But it allows users to raise, battle, and trade creatures called Axies for crypto.
Last year, Apple (AAPL) took in $72.3 billion from its App Store.
That’s about 26% – or over one-quarter – of Apple’s $274 billion revenue.
Since it launched its App Store, Apple has paid more than $200 billion to developers who sell digital goods and services through the platform.
Right now, DApps are developing the way apps did in 2008. There are several projects adding new DApps every month.
But there’s one in particular leading the way. It’s responsible for over 80% of DApps. And Teeka believes it’s destined to be the App Store for crypto.
If it can do what Apple did, he says it will be the next coin to shoot past a trillion-dollar market cap.
At 8 p.m. ET this Wednesday, he’s hosting Crypto’s Next Trillion-Dollar Coin.
The event will be all about this breakthrough coin… that has the potential for life-changing returns.
You’ll get the name and ticker symbol of this coin just for showing up. You’ll also get access to three training sessions. These will help you prepare for the biggest crypto story the mainstream isn’t talking about.
The five cryptos Teeka recommended for his 5 Coins to $5 Million: The Final Five event in March 2020 are up, on average, 1,445%.
The top gainer is up 2,624%.
So it pays to listen to Teeka. And this event is free to attend for Daily Cut readers.
I’m going to be there. I hope you’ll join, too.
March 29, 2021