Crypto is about to enter its “iTunes” phase.All technological revolutions follow two phases:
If you need a real-world example of this, think of the electronic music file or MP3 revolution.The first phase was Napster in 1999, which featured the sharing of music in what was later deemed as illegal activity (the legal framework was not yet ready for the technology). During this initial phase Napster exploded in popularity particularly among young people. At its peak Napster had tens of millions of users.Then came the lawsuits, Napster went bankrupt, and social/ legal frameworks were introduced for this new technology. During this time Apple introduced iTunes: a version of MP3 technology in which MP3s could be bought and sold in a legally acceptable form. Napster is still around. Its marketing promotes the fact it is “100% legal.” And it has about five million users. At its peak, iTunes hit 500+ million users and accounted for 63% of all digital music sales. It is now in the process of being converted over to Apple Music, a new service that also offers music streaming and other services in order to compete with Spotify which is the new market leader. So once again, the technology has changed and requires adaption. And streaming music is now $46 billion market.So, what does this all have to do with crypto currencies? Under the new Trump administration, bitcoin and crypto currencies will shift from their Napster phase to their iTunes phase.Bitcoin was invented in 2009. Since that time, the crypto currency market has grown to over 5,000 coins with a total market cap of $3 trillion. It’s unregulated, messy, and highly volatile. Put simply, since 2009, the crypto market has been in its Napster phase,All of that is about to change. The Trump administration is going to oversee a massive widespread adoption of crypto currencies, particularly Bitcoin.For starters, Trump himself is a huge proponent of crypto currencies.How do we know this?For one thing, Trump spoke at a Bitcoin Conference in Nashville on July 27th. Bear in mind, he was shot a mere two weeks prior. The fact he did NOT cancel his appearance despite being shot tells us this conference and its subject matter were of personal significance to Trump.Indeed, Trump sees crypto currencies, particularly Bitcoin as a part of his agenda. He has stated he wants to make the U.S. the “crypto capital of the world” and that crypto mining of strategic importance to the U.S..Trump is not the only one in his administration to favor Bitcoin. Trump isn’t the only member of his administration who is pro-Bitcoin. HisVice President is J.D. Vance, who personally owns between $100,000 and $250,000 worth of Bitcoin as detailed by financial filings.And finally, Elon Musk, who has established himself as one of Trump’s most trust advisors, is a big proponent of crypto currencies, including Bitcoin. Indeed, Tesla () itself owns nearly $1 billion in Bitcoin.Put simply, the President, the Vice President, and one of their biggest economic advisors are all involved in Bitcoin in some fashion. And during Trump’s 2nd term, crypto currencies will enter their “iTunes phase”: the phase during which the legal/ social framework is implemented amidst widespread adoption. This is when the largest gains/ profits will be made from the crypto markets. Indeed, I fully believe the greatest crypto bull market has just begun.Smart investors are already positioning themselves to profit from this.More By This Author:What Does A Trump 2nd Term Mean For Stocks? Three Charts Investors Need To See Today Rate Cuts Are Here, Stocks Hit New All Time Highs, But What’s Going On With Gold?
