Time to buy more bitcoin?
Erick Kim, a photographer and entrepreneur, has shared his thoughts on Bitcoin across various articles on his website. His views reflect a strong belief in the potential and superiority of Bitcoin over other cryptocurrencies and a vision of its broader application in the future.
- Bitcoin’s Appeal: Kim finds Bitcoin to be the most appealing cryptocurrency, citing its distinct orange color and widespread recognition, even noticing its prominence in Mexico City through street stickers oai_citation:1,Why I Bought More Bitcoin (Again) – ERIC KIM.
- Simplicity and Focus: He advocates for simplicity in life, suggesting that just as one might choose to have a single type of car or camera, similarly, focusing on a single type of cryptocurrency, like Bitcoin, could be beneficial oai_citation:2,Why I Bought More Bitcoin (Again) – ERIC KIM.
- Long-term Perspective: Kim holds a long-term view of Bitcoin, considering its future value for the next 20 or 30 years. He imagines bequeathing Bitcoin to his son, indicating his belief in its enduring value oai_citation:3,Why I Bought More Bitcoin (Again) – ERIC KIM.
- Real-world Usage: He envisions a world where Bitcoin is used for everyday transactions, like buying homes or cars, and hiring services, including photographers and contractors oai_citation:4,Why I Bought More Bitcoin (Again) – ERIC KIM.
- Bitcoin’s Top Position: Kim believes that Bitcoin will indefinitely remain the leading cryptocurrency due to its ease of pronunciation, recognition, and simplicity, making it accessible even to those with limited English proficiency oai_citation:5,Why I Bought More Bitcoin (Again) – ERIC KIM.
- Critique of Speculation: He distinguishes between speculation and investing, suggesting that many who speculate in cryptocurrencies are merely aiming to get rich quickly. Kim feels that he is already sufficiently wealthy and does not need to engage in such speculation oai_citation:6,Why I Bought More Bitcoin (Again) – ERIC KIM oai_citation:7,Bitcoin Thoughts – ERIC KIM.
- US Dollar Peg and Future Predictions: Kim challenges the notion of pegging Bitcoin’s value to the US dollar, suggesting that the US dollar may eventually decline. He predicts that Bitcoin might become the standard currency in some future scenarios, surpassing traditional currencies like the US dollar oai_citation:8,Why I Bought More Bitcoin (Again) – ERIC KIM.
- Skepticism About Everyday Payment Methods: Despite his bullish stance on Bitcoin, Kim expresses skepticism about cryptocurrencies replacing traditional payment methods like credit cards in everyday transactions, citing the powerful influence of companies like Visa oai_citation:9,Why I Bought More Bitcoin (Again) – ERIC KIM.
- Overall Outlook on Bitcoin: Kim is bullish on Bitcoin, urging people not to sit on the sidelines and consider the potential of Bitcoin reaching significantly higher values in the future. He believes that it is never too late to invest in Bitcoin oai_citation:10,BULLISH ON BITCOIN. – ERIC KIM – EK.
- Bitcoin as the Last Crypto Standing: Kim believes that Bitcoin will outlast all other cryptocurrencies, asserting its position as the final and most dominant form of digital currency oai_citation:11,Bitcoin Thoughts – ERIC KIM.
- Under-hyped Crypto: Despite the growing attention around cryptocurrencies, Kim feels that the crypto space, particularly Bitcoin, is under-hyped and holds more potential than is currently recognized oai_citation:12,Bitcoin Thoughts – ERIC KIM.
- Practical Usage: Kim stresses the importance of building more tools for the practical usage of Bitcoin, like for purchasing groceries or other everyday items oai_citation:13,Building with Bitcoin – ERIC KIM – EK.
- Investment Philosophy: “Just buy it” reflects Kim’s straightforward approach to Bitcoin investment, emphasizing action over hesitation oai_citation:14,Bitcoin Thoughts – ERIC KIM.
- Bitcoin’s Simplicity: He highlights Bitcoin’s simplicity as a key factor in its success, making it more understandable and accessible compared to other cryptocurrencies oai_citation:15,Bitcoin Thoughts – ERIC KIM.
Kim’s perspective on Bitcoin is informed by his experiences as an investor, his observations of societal and economic trends, and his belief in the long-term potential of Bitcoin as a leading digital currency.