According to Cointelegraph, Luke Broyles, a well-known Bitcoin advocate and content creator, shared his Bitcoin investment thesis and views on the asset's potential to reach a seven-figure price during a recent episode of Cointelegraph’s Market Talks. Broyles explained that he discovered Bitcoin as a sound investment option in 2020 after realizing the bond market was broken. He has since sold off 97% of his stocks and plans to sell the remaining 3% soon. Broyles' investment portfolio will then consist of only U.S. dollars, real estate, and Bitcoin.
Broyles' Bitcoin investment thesis is also supported by his belief that everything is overvalued and should crash, including stocks, healthcare, real estate, and the education industry. He argues that people are losing faith in the dollar and its purchasing power, making Bitcoin, a supply-capped asset, more attractive. Broyles believes that if a credit unwind occurs, the response will be to print more money.
When asked if there is a point at which it becomes too late for investors to buy Bitcoin, Broyles compared the situation to a sinking ship and suggested that it's never too late to exit for those on board. He stated, 'At no point is it ever too late to buy Bitcoin, but it will be too late to exit bonds and to exit fiat.'
