Stages of Bitcoin adoption:

2009 – 2011: Tech geeks
2011 – 2013: Silk Road and people who believe in free markets and limited government
2013 – 2015: Individuals aka retail investors willing to make a risky bet on an experiment currency with little infrastructure
2016 – 2018: Initial Coin Offerings and division of Bitcoin community because of various proposals about how Bitcoin should scale
2019 and beyond: Rational investors and the last chance to get in under $10k, $15k and $20k USD

“Wealth is accumulated by owning equity in something of value or owning someone else’s debt”

Real estate
Bitcoin blockchain

Types of debt include:
Sovereign debt
Commercial debt
Mortgage debt
Student loans
Car Loans
Credit Card debt

Common criticism:
Bitcoin doesn’t produce anything and doesn’t pay dividends. 

“Traditionally US Treasury bonds and federal funds rate has been the baseline for all other debt.”

New financial markets:
Bitcoin and cryptocurrencies are creating new opportunities for both equity investors and lenders.

The new benchmark now is the interest rate agreed upon between Bitcoin holders and lenders who accept crypto as collateral.  

Choice for investors:
Continue overpaying for traditional assets that generate smaller returns every year or own equity in world’s global P2P distributed, permissionless ledger.

Rational investors are deciding they would rather own equity in the world’s distributed ledger.