Bitcoin and financial trader, PlanB, has taken over the crypto community because of the Stock-to-Flow model.
PlanB has amassed an impressive following on Twitter. He’s gone beyond just crypto Twitter though and is now one of the key voices in the bitcoin community. He is well known for popularizing the bitcoin stock-to-flow (S2F) model. But, who exactly is PlanB? Here’s what we know.
PlanB is a Dutch, institutional investor.
PlanB is Dutch. As of Spring 2020, he’s in his mid-40s. PlanB currently works full-time as an institutional investor. No surprise here. PlanB is an institutional investor by day. He also has an educational background in economics and law.
On the Pomp Podcast, PlanB mentioned that he studied quantitative finance as well as bank and financial markets law. He dives deeper into his specific professional experiences throughout major time periods such as the 2008–2009 financial crisis and we’d recommend listening to the entire interview.
PlanB started in #CryptoTwitter like the rest of us.
Twitter is one of the go-to places for cryptocurrency information. PlanB has quickly grown a massive following on Twitter with upwards of 100,000 followers. Before he started posting on Twitter, PlanB looked to the social media platform for bitcoin news and updates.
PlanB start reading Twitter for news and updates on bitcoin like the rest of #CryptoTwitter. Now, he has a massive social media following.
Bitcoin and the rest of the cryptocurrency world has made its way into mainstream media outlets recently, but in the early days it was all about Twitter and other online forums. PlanB is no different than the rest of us when it comes to tracking what’s happening in crypto. After reading crypto Twitter for a while, he started posting.
PlanB got into Bitcoin around 2013.
What’s key here is that PlanB started reading and learning about Bitcoin before he ever became financially involved. In 2013, he found his way to the Bitcoin White Paper and was blown away by Satoshi’s work. He’s read the white paper countless times. Despite learning about Bitcoin in 2013, PlanB didn’t make a private investment into Bitcoin until 2015.
PlanB remains anonymous for operational security.
In crypto, it never hurts to leave a little to the imagination. PlanB currently works full-time as an institutional investor and, because of this, he chooses to remain anonymous in the cryptocurrency world. PlanB does not want his bitcoin and Twitter hobby to negatively impact his current employer.
PlanB does, however, think that he can be a bridge between the traditional investment and financial world and bitcoin. And, he is in a good position to do just that. PlanB has the background and knowledge of both traditional finance and crypto.
PlanB continues to track the Bitcoin S2F model.
Rest assured, PlanB will continue to update his followers with how bitcoin is performing in relation to the Stock-to-Flow model. Again, if you’re unfamiliar with S2F, check out his article on Medium here. In short, a stock-to-flow model evaluates the stock of a commodity against the flow of new production. Bitcoin is a scarce digital commodity and many have started looking at the cryptocurrency in the context of S2F.
What’s next for PlanB?
Whatever is next for PlanB depends on what’s happening with bitcoin. Follow him online and see how bitcoin performs in relation to S2F. You can find out more about what he’s up to on his website and find links to all of the places he posts about bitcoin there. Otherwise, stay tuned and stay plugged into crypto Twitter and the rest of the crypto world for news and updates.
Some people see bitcoin reaching prices upward of $1 million. There’s plenty of different types of analysis going on around BTC and other cryptocurrencies right now. The only way to find out who’s on track is to stay up to date with what’s happening in bitcoin. PlanB will surely continue to track BTC. So, join in on the fun yourself.
Why some experts think bitcoin’s price will hit $1 million.
Bitcoin price predictions go as high as $1 million in some cases. The sky is the limit if the market cap continues to grow. As of writing, the price of bitcoin sits at just above $9,000 USD. The world’s largest cryptocurrency reached nearly $20,000 in late 2017 before a dramatic pullback that led to an equally wild journey to get to where we are today.
Can Bitcoin Reach $1 Million?
Top crypto and investment names have thrown around bitcoin price predictions that go as high as $1 million. Is that really possible? Wences Casares is the CEO of Xapo and one of the biggest names in bitcoin and he thinks it is possible. Founder of BTCC, Bobby Lee, has also called for a $1 million bitcoin if overall adoption continues.
Bitcoin pioneer Wences Casares sees bitcoin reaching $1 million sometime between 2023–2027.
Venture capitalist and founder and CEO of Social Capital Chamath Palihapitiya sees bitcoin hitting $1 million but taking just a bit longer. He said that in 2013, he owned roughly 5% of all bitcoins in circulation. Palihapitiya also thinks that everyone should own some bitcoin and that the price could reach $1 million by 2037.
$100,000 Bitcoin in the Short Term
Let’s put $1 million aside for a second. Anthony Pompliano, also known as Pomp, is a Co-founder & Partner at Morgan Creek Digital. Pomp is one of the biggest personalities in the bitcoin space today. He sees a $100,000 bitcoin possible by as soon as 2021.
Since Pomp’s price prediction, we’ve seen a bitcoin halving and financial crisis brought on by a global pandemic. Bitcoin dipped then bounced back and it’s probably fair to say that Pomp believes in bitcoin even more now.
Kay Van-Petersen, who correctly called a $2,000 bitcoin back in early 2017, also predicts bitcoin reaching $100,000 soon. An analyst as Saxo Bank, Van-Petersen believes that bitcoin is not a fad and that the cryptocurrency is here to stay. He predicts bitcoin will hit $100,000 by 2027.
$500,000 Bitcoin in the Near Term
The space between the current bitcoin price and $1 million is vast… Other notable predictions fall somewhere in the $250,000 — $500,000 range. Take bitcoin personality and broadcaster Max Keiser for example. Keiser is one to regularly remind his followers that he recommended bitcoin at $1. He sees bitcoin going as high as $500,000 if bitcoin can overtake the gold market.
Keiser is not alone. Founder of Morgan Creek Capital Management, Mark W. Yusko, also believes a $500,000 bitcoin is possible. Pomp and him continue to beat the drum for bitcoin as Yusko thinks you should buy bitcoin every chance you get. Jeremy Liew is right there with these guys. Liew, a partner at Lightspeed Venture Partners, hit it big when he was the first venture capitalist to back Snapchat. Now, he’s worth more than $2 billion.
Peter Smith, the CEO and cofounder of Blockchain, backed Jeremy Liew’s prediction, saying that bitcoin will reach $500,000 by 2030.
2020 Will Be a Big Year for Bitcoin
It probably goes without saying that 2020 is primed to be a big year for bitcoin. Bitcoin continues to become more mainstream and gain the interest of institutional money. This is on top of the fact that we are in the middle of a financial crisis, causing fiat currency to be printed by central government in what feels like an endless cycle of quantitative easing.
Paul Tudor Jones has almost 2% of his assets in bitcoin. He says that bitcoin is “a great speculation.”
Paul Tudor Jones made headlines and revealed that he has a stake in bitcoin. He calls it a “great speculation.” Others such as Barry Silbert, Ronnie Moas, and Tai Lopez are all bullish on bitcoin. Moas thinks bitcoin could hit $50,000 before the end of 2020 and sees cryptocurrency phenomena resembling that of the dot com boom.
So how high can bitcoin climb? These experts think the rise and rise of bitcoin have just begun. Time will tell if any of them are correct. Keep learning about bitcoin by reading about the person who invented it.
One of Bitcoin's Earliest Breakthroughs Is Thanks to Pizza
Bitcoin can trace one of its earliest breakthroughs back to pizza. The now infamous Bitcoin Pizza Day marks the cryptocurrency’s first ever recorded transaction for the purchase of a physical item. After all, a currency is not fully formed unless it is exchanged for a good or service. That is key component of what makes up money and on May 22, 2010, that all changed for bitcoin.
Laszlo Hanyecz Paid 10,000 Bitcoins for Two Large Papa John’s Pizzas
The exchange was facilitated by a back and forth conversation between Laszlo and Jeremy Sturdivant on the online forum BitcoinTalk. Known by their forum aliases “laszlo” and “jercos”, the two somewhat knowingly made history, although they could not have realized the magnitude of the moment at the time.
Pizza was the good of choice thanks to Laszlo’s desire to have some already prepared food. He was hungry. He also wanted TWO pizzas so that he could have some leftovers to nibble on the next day. Who can blame him? The pizzas could either be handmade and then delivered or simply ordered from a delivery company. Jercos obliged. Being in Britain, jercos went the mainstream delivery route and, POOF, two Papa John’s pizzas became the center of the first ever recorded bitcoin transaction. The price tag on the pizzas has become regular fodder for journalists and the Twitter-sphere each year around May 22.
The Cost of the Pizzas Has Reached as High as $90 Million USD
The transaction continues to be referenced in relation to the rise and fall of the worldwide bitcoin price. Laszlo should not feel bad about his 10,000 BTC spend though. The cryptocurrency had little to no significance in terms of price or value at the time. With the pizza purchase, bitcoin came into being in a whole new way. It was a groundbreaking moment.
Previously, the electronic peer-to-peer cash system was simply its original protocol. Functional, yes, but more so in theory than anything else. The pizza purchase marked a necessary point in the evolution of bitcoin if it was to become the world’s most well-known cryptocurrency.
Bitcoin now has the potential to go beyond just buying pizzas. For example, take its impact on financial equity. Learn about how the cryptocurrency can help bank the unbanked.