Though it’s been grossly underreported in the corporate media, Bitcoin’s 65% surge from the December lows has been nothing short of phenomenal. Crypto bulls wouldn’t be surprised to see the crypto rebound continue upwards – but cautious investors might wonder whether the 65% move was too much, too fast.
Seeking to gauge the future potential of Bitcoin’s price action, Portfolio Wealth Global interviewed a gentleman who’s been dubbed “the next Satoshi,” cryptocurrency entrepreneur Paul Snow. Paul is the founder and CEO of Factom, a blockchain innovations company transforming the way organizations use and interact with their data – and amazingly, he invested in Bitcoin when it was selling at just 70 cents.
Paul’s objective with Factom has been to create the first blockchain technology built from the ground up to solve real-world business problems. Established in 2014, Factom provides a Blockchain-as-a-Service platform for data provenance and integrity solutions built on the Factom blockchain.
Courtesy: Paul Snow
Mr. Snow’s innovative approach to software and application engineering has spawned a litany of inventive open-source companies and solutions that have paved the way for Factom. A true open-source evangelist, Paul also acts as Founder and Chief Architect for DTRules, an open-source project he founded in 2004 to make Decision Table-based Rules Engines available to all sorts of projects.
Paul is also a founder of the Texas Bitcoin Conference, and currently serves as its President and Chair. Mr. Snow holds three patents for graphics hardware and system configuration technologies, and is a supporter of and contributor to the Colored Coins and Ethereum projects, in addition to driving the development of the Factom Network.
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Portfolio Wealth Global sought Paul’s guidance on whether the recent bullish price move in Bitcoin is reasonable and sustainable, and he reminded us of cryptocurrency’s other major bull runs. According to Paul Snow, there was a time when he bought Bitcoin for under a dollar when no one believed that it could get to a thousand dollars – which we now know happened in 2013.
Then came the crypto bear market of 2015 to 2016, and according to Paul Snow, people were saying that Bitcoin would never reclaim the $1,000 mark. As we now know, Bitcoin went far beyond a thousand dollars and nearly touched the $20,000 level.
Courtesy: Paul Snow
What people need to understand, according to Paul Snow, is that Bitcoin is designed to have a very limited supply. That means that investments in Bitcoin, much like investments in gold, are a stake in an auditable, trackable, inflation-resistant asset.
These qualities of Bitcoin make it easier to keep score of one’s investment over time, and that’s a major driver of Bitcoin’s value: limited supply and global interest are enduring features that you just won’t find in the world’s fiat currencies.
The problem with dollars, euros, and other fiat money, according to Paul Snow, is that central banks can print as much as they please. Sure, you can invest in stocks, but the companies can dilute the value of these stocks with new share issuance.
As Paul Snow sees it, cryptocurrency presents a managed, limited-supply asset with unlimited potential for defining wealth. What needs to happen, according to Paul Snow, is greater regulatory acceptance of funds that invest in cryptocurrency – this, coupled with adoption by pension plans and perhaps even state/federal governments, cryptocurrency could redefine how we define value.
Courtesy: Paul Snow
And when we look at the recent 65% surge in the price of Bitcoin, let’s not ignore the remarkably high trading volume we’ve seen during that big move. Perhaps, then, the price recovery shouldn’t be surprising: in fact, Paul Snow is surprised that Bitcoin only went up 65%, and not 200% or 300%.
Paul is truly a man with an instinct for the future of technology and blockchain innovation, so you’ll definitely want to watch Portfolio Wealth Global’s complete interview with Paul Snow. And for a truly innovative and transformative blockchain and data integrity solution, you’re encouraged to visit Factom today.
Portfolio Wealth Global’s library of high-conviction reports will amaze you with the actionable tips and strategies that you can use right now. Be sure to get your copy of our report on the must-own blockchain technology stock for your portfolio, our report on the top 5 cryptocurrencies to buy in 2019, as well as our guide to the supercharged profits coming in the artificial intelligence space.
Best Regards,
Tom Beck
Research Partner, PortfolioWealthGlobal.com
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This work is based on SEC filings, current events, interviews, corporate press releases and what we’ve learned as financial journalists. It may contain errors and you shouldn’t make any investment decision based solely on what you read here. It’s your money and your responsibility. The information herein is not intended to be personal legal or investment advice and may not be appropriate or applicable for all readers. If personal advice is needed, the services of a qualified legal, investment or tax professional should be sought.
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