Let me begin this article by saying I hope I’m 100% wrong. I know I am going to get a lot of pushback on what I am about to share here, but please remember this is just my opinion. I would also add that my family owns a relatively small amount of Bitcoin just in case I am wrong. Lastly, despite my concerns about the long-term viability of Bitcoin, as long as we stay above $20k, the December 2017 peak, I still believe it could go to $100k or higher before it finally runs out of steam.

With that out of the way, let me begin with my primary concern about Bitcoin’s long-term viability, and indeed, all crypto currencies:

The source of central banks’ power is their total control of the world’s money supply. Do you honestly believe they’re going to allow anyone or anything to undermine that total control? I don’t, and I’m not alone in that view. From an interview with former Dallas Fed member, Danielle DiMartino Booth in 2017:

“Q. Would governments necessarily allow private-based cryptocurrencies to coexist with government-based cryptocurrencies?

Continued on Source: Bitcoin vs Gold