Transcription
Hello everybody, welcome back to the channel where we talk about stuff.
For those of you looking to secure and keep your cryptocurrency safe, there is a link to Ledger in the description below. I've been using Ledger for a number of years; I have like five of them. I really like Ledger; I think they're a great company. I do not work for Ledger; I am an affiliate, and I do have an affiliate link in the description below.
This one's going to be a bit crazy, like this one, like really, like hold on and kind of enter it with an open mind. Just because it's dramatic, but it also makes sense. It sounds insane, but it looks like where we're going. If at any point I seem confused or dazed, it's because of the topic.
The idea about where Bitcoin's price is going is something that I think will probably never leave us. I think a lot of times, if you're in crypto right now, if you're into Bitcoin right now, if you're learning about Bitcoin, everything is very abstract. For instance, when I started learning about the market about a decade ago, I didn't buy anything; I didn't enter the space, but I kept on reading what people were saying about Bitcoin.
I glazed over anyone calling Bitcoin evil, bad, terrible, blah blah blah, those other things, thank goodness. But it got to the point where one of the most fascinating things was like this idea of Bitcoin taking over and surpassing the US dollar. You've heard this before. The current narrative that we have right now is Bitcoin taking over gold.
That's like a major figurehead within the financial world, within the cryptocurrency space, is Bitcoin surpassing $800,000 per coin and cumulatively being worth more than the entirety of all gold on the planet. In order to do that, Bitcoin has to hit $800,000 per coin.
I'm going to try and give it to you in this context: when Bitcoin was a dollar, the idea of Bitcoin going to $100 was a dream. You can find old Reddit posts; you can find people talking about it online. There wasn't a lot of belief that Bitcoin would ever be able to actually do this, simply because of how high the market cap would have had to go.
You can find a lot of stuff on Reddit of people being like, "I just sold all my Bitcoin at $3. I'm so glad I got out of that bubble." And it's like, yeah, that one's going to hurt in the future. When Bitcoin was $100, the idea of going to like $5,000 to $10,000 also seemed insane. You would essentially need millions, if not low billions of dollars, to begin to push into this market to be able to reach that actual number.
That's why in 2017, pretty sure it was Novogratz who went on TV and he was like, "Yeah, I think Bitcoin's going to hit $10,000 this year." And people were like, "This guy's crazy!" People just thought he was a mental case.
When you have Bitcoin at $5,000 to $10,000, the idea of Bitcoin going to $100,000, I remember because I've been here for a while, I remember saying or people saying that it was a dream, if not a fever dream. Bitcoin at $10,000 is okay; Bitcoin getting to $20,000, sure. Bitcoin fell back down to $3,000; therefore, you got to only assume that Bitcoin's kind of done for.
$117,000 wiped out over the course of a couple of months. When Bitcoin hit $70,000 a couple of years ago, this conversation then became a little bit more intense. "We're going to hit $100,000." People were like, "Yeah, I can kind of see it."
Okay, well, you know, it's cool that you think that, but Bitcoin will never be able to take over the valuation of gold. Bitcoin at $80,000 or $90,000, somewhere around there, actually overtook the entire valuation of all the silver that we have on the planet, which I wish had been celebrated and spoken about a lot more because it's freaking silver.
Bitcoin completely decimated silver's market cap, took it over, and now Bitcoin collectively is worth more than all the collective silver that we also have on the planet. But we reach a dramatic impasse, and I'm going to tell you what it is, why I think it's not that dramatic, and where I think Bitcoin is actually going.
When you talk about that we're at $100K, half a million dollars seems feasible. We don't know if it's feasible this year or the next, but we know in the future Bitcoin at some point is going to pass by half a million dollars. We can all agree on this with the amount of attention and money that we have flowing into the market; it's going to happen.
That leads us to the conversation of if we can hit half a million dollars, can we hit a million dollars per coin? Absolutely. There's nothing also really stopping us other than I have this thing with eyelashes where they're constantly like attacking me. Nothing's really stopping us outside of institutional adoption.
This is terrible institutional adoption and like basically other people realizing that they were too late. If you've ever seen the price predictions from a lot of these larger people within the space, especially Plan B, one of his predictions and one of his charts, I think the bullish case he always has a bearish case, a base, and then the bull case for 2029 and 2030, if I remember correctly, is over like multi-million dollar Bitcoin already.
That's over the course of the next halving. When you talk about Bitcoin can get to half a million and Bitcoin can get to a million, can Bitcoin then also go to $3.5 million? Realistically, if the halving keeps happening and the scarcity of Bitcoin increases and governments begin to buy and cities begin to buy and states begin to buy and you continue buying and other companies and corporations buy forever.
You might have also missed another video last summer. For those of you who missed it, we got word that there are a number of companies, like mining companies, companies who mine Bitcoin, who announced that and told us that usually sometimes they have to sell some of their Bitcoin to keep the lights on.
They said that a lot of central banks and large banks went directly to them and said, "If you sell anything, sell it to us because we want your Bitcoin." So we know central banks are also buying up Bitcoin as well.
If Bitcoin can go to a million and Bitcoin can go to $3.5 million, and the halving on the planet, could we hit a $5 million Bitcoin? It seems completely logical, and I'm also going off with the charts and the scarcity that we keep seeing over and over and over.
Does that mean that Bitcoin can also then hit a $10 million Bitcoin per coin? One of the ideas is, and I'm going to kind of jump a little bit more ahead, one of the ideas about Bitcoin is that at some point it's going to hit $100 million per coin.
Now, I told you at the beginning you would be skeptical; you would say something, you would fold your arms, "I don't believe it," like that kind of thing. It's the same exact thing when it was at a dollar. Going from a dollar to $100,000 made no sense. It can't do that. Bitcoin can't hit a $100,000 per coin.
The market cap would have to be too high; the amount of money that would have to flow into the space would have to be astronomical. The amount left on crypto exchanges would have to be minuscule. We would need governments and cities and states and investors buying as much Bitcoin as they possibly can, basically in a race to do it before anyone else can.
One of the ideas of Bitcoin hitting a $100 million—here's the kicker—it's something that we've touched on before in the past but never really went into. We have multiple different levels of the money supply, and here's the base one for Bitcoin going to $100 million.
This is going to sound insane. Let's say Bitcoin's at $100K. We touched on this before. Bitcoin's at $100K; you see it, you don't really pay that much attention to it. You buy an asset that costs $250,000. Bitcoin also goes to $250,000. You go, "Wow, that's crazy! Is it worth the exact same thing as the other thing that I bought?"
Your asset goes to $300,000, and Bitcoin's value goes to $380,000. Bit of a difference. A year and a half later, your asset is valued at $320,000; Bitcoin's at $740,000. Panic begins to set in for a number of reasons. Bitcoin is outpacing the thing that you bought, and you're also thinking, "Can Bitcoin continue to go higher?"
The guesstimation for a number of things are that once Bitcoin passes by the valuation of gold and its entirety of its market cap, that people around the world will begin to take notice and will start seeing people selling off their gold. You will then have complete confirmation, even though we know now, if you get a chance, look at a chart Bitcoin versus gold.
Bitcoin has outperformed gold 9,000 fold. That's not a fake number. Bitcoin is up by several million percent from the day it came out to the time that gold was there as well, and they've moved together through the years several million percent.
The idea is that people now already realize that gold isn't performing as well as Bitcoin. The other part of it is when you see explicitly on the news that your investment you've been holding for the last 20 years did not hold up remotely as well to Bitcoin, you go, "Okay, fine, I'll sell a couple of coins and throw it into Bitcoin."
When Bitcoin goes to $1.1 million and it's far surpassing the market cap of gold, people will begin to sell more gold. The idea is that this will also happen for real estate. It's a two-pronged thing. Bitcoin is made to be deflationary; it's meant also to get us away from the old monetary system.
When you hear me say a lot of times, I do not think people are ready for what's actually going to come, this is part of it. The idea for Bitcoin is it'll continue rising potentially infinitely. As long as we have fiat currencies, we will then begin to see people who own 15, 25, 100 properties sell off some of their properties because they know that they need to put that money into Bitcoin because Bitcoin's valuation continues going up.
But it ends up being like a self-fulfilling prophecy because the more that the homeowners sell, the more that the gold owners sell, the people who have silver, who have stocks, who have bonds, they're draining the value from these other assets and they're pushing it into Bitcoin, pushing its value further up because there's billions of people around the world trying to do the exact same thing.
This then leads to not a housing crisis, but a situation where housing actually lowers in price, and it makes it easier for you and everyone else who wants to buy a home. The probability of being able to own a home without having to pay an exorbitant amount of money leads into the cascade.
If people keep selling off one thing a year and Bitcoin's valuation continues to rise, where is then the limit for Bitcoin? Think about it. If you missed it a couple of months ago, the CEO of BlackRock, Larry Fink, said that he thinks that in the next 10 years, Bitcoin's value is going to surpass the entirety of real estate in the United States.
I'm going to say that one more time: real estate in the United States is valued at $50 trillion. He says within the next 10 years, he's expecting Bitcoin's valuation, at like a trillion, whatever it is right now, to do a 50x. That's if money from real estate moves into Bitcoin. What about every other asset?
This is why when I say I think a lot of people are going to have a very difficult time in the future, it's mentally and financially and mentally again. When you realize now, you being in the market, the chance, the luckiness that you have to be able to buy crypto at these prices, it's quite phenomenal.
There's like a time machine. You can even see it if you go to like CoinMarketCap. All the price websites have it; they have like a time machine function. I don't know what it's called on all of them, where you can literally see the prices on a certain day years ago.
So like you can go back and see on January 14th, 2012, 2013, you can see what the prices of the assets were, and it looks crazy because you realize really quick that was 14 cents; that's $3,000 right now. It looks crazy when you're actually looking at it.
You'll be able to see, and people will be able to see and look back at today and see what prices are. They'll be able to look a couple of years back, and etc., etc. I think it's going to cause a very dramatic rift in the way that the world works when people realize that you have something that they don't.
I like to believe that jealousy and envy don't play a part in it, but they do. I have a friend who recently came into money; he's doing exceptionally well and has been the last year and a half or two years. I helped him with crypto; he's doing fantastic.
Part of the problem is that the people around him weren't blessed with what he has. So when this first happened, I told him, friend to friend, I said, "Don't tell people what you have." Not in a joking way, don't tell people what you have. You would never tell a random person, and also there's no real need to tell a friend of yours, an acquaintance, even family members what exactly it is you have.
He said, "Sure, I'll listen to that." And then slowly but surely, he couldn't keep it to himself, and he told a bunch of other people. Eventually, people began to ask him for money. "Can I have 50? Can I have 100? Can I have 300? I know you can afford it," like that kind of thing.
And he's realized over the last year or two that there's like a slight rift moving apart between him and them. As he makes more money in crypto, as he makes more money in stocks, as he buys more real estate, he realizes he can't tell them because it's something that I was told when I was younger.
I was told, "Don't tell people what you have because people will begin to count your wallet or bank account, depends on how you want to say it." It's basically if you tell someone that you just won $50,000 in the lotto or whatever it actually might have been, they're happy for you initially, and then they go home and look at their bills and they go, "Can you loan me a hundred? I promise I'll pay it back."
You're pretty good with money—not that you play the lotto, but you understand pretty good with money. You figure out a way to make it last for a number of years. Three years later, that friend sees that you're still going on these mini vacations on Instagram. The jealousy and envy begins to grow because they see that you have it and they don't.
Use what I just told you as like literal words of wisdom. If you make bank over the course of this bull run, you can tell your partner; you can even tell someone who you like extremely trust, like your mother or some other whatever. No one else needs to know.
I was told this years ago; I told people this 10 years ago, and now everyone's beginning to notice what I was talking about. Not everyone is going to make it to the finish line; it's impossible. If you make out like a bandit during the course of this bull run, you make really good money, and you tell people, they're going to realize and remember that in five years when their rent has doubled, when they have a hard time in the supermarket, and it becomes jealousy and envy.
I'm telling you, pay attention to who you tell about your life in general. Didn't mean to segue, but it's just kind of what it is. The idea of Bitcoin hitting $100 million right now seems implausible and even seems a little bit insane.
When I saw this, this one actually took me for a loop because I didn't know how to handle it, if I can be honest with you. One of the things that kind of drew me into crypto and drew me into Bitcoin years ago was the idea of each Bitcoin hitting $10 to $100 million. Obviously, let's not lie here and go, "Hmm, $100 million, I don't need it," like that kind of thing.
Of course, it's a gigantic magnet. This one scared me because it let me know exactly where things probably are going. How long has Bitcoin been around for? 15 to 16 years, depends on like when you celebrate its creation or like its birthday or when it was like released to the public.
15 to 16 years. There are discussions that either this year or in four years, we are going to hit a million-dollar Bitcoin. By the time we get to 2032, analysts are talking about a $10 to $510 million-plus Bitcoin.
This analyst thinks—this is a guy from Fidelity, one of the largest companies, what have you, on the planet—he thinks that if the adoption levels that we have right now continue and nothing more, what we've heard in the news, the US, certain states, the UAE, 100 million people buying Bitcoin all the time, he thinks that Bitcoin's price is going to explode.
If you tie in the idea of Bitcoin rushing up in value and other people selling off their assets to push more money into Bitcoin, and the other idea is of debt circulating into Bitcoin and things being completely valued in BTC and in Satoshi, grain of salt, he thinks that by the time we get to the year 2038—and I'm going to give you that year—by the year 2038, he thinks that Bitcoin might be a billion dollars per coin.
I can feel the reactions; I can feel like the cringe a little bit, and it's because we keep forgetting to extrapolate. Bitcoin will be mined until the year 2140. If the price keeps going up exponentially after every halving, when would logically Bitcoin get to a billion dollars per coin?
Give me time frames. Is it 2038? Is it 2045? Is it 2075? If we can agree that in the next 50 years there's a possibility for Bitcoin to hit a billion dollars, there's still another 65 years left of Bitcoin being mined and the halving constantly decreasing rapidly.
If we're seeing all of this Bitcoin bought up right now, remember I told you if the ETFs accumulated over a million Bitcoin in less than a year, what do you think the next 3 to 5 years with the ETFs are going to be like? How much Bitcoin is gone that never reenters the market?
MicroStrategy plans on accumulating over a million Bitcoin. The US plans on accumulating over a million Bitcoin. Individual states are going to be pushing a billion dollars plus initially into Bitcoin. How much Bitcoin is also gone from the other whale wallets?
How many of you are continuously buying every two weeks? Extrapolate another 10 to 15 years. How high is Bitcoin's price? He said this is the craziest part, and this is, like I said, what scares me. His idea is that you only need—let me get the exact number—hold on, hold on, hold on, hold on, I'm still scrolling, still scrolling, still scrolling.
Where is it? Where the numbers? Can I not understand where the numbers are? Hold on, I'm going to find it right. He said you would only need 0.00001 Bitcoin, 100,000 Satoshi, to be a multi-millionaire.
For those of you who also don't know, I feel like someone's asking, for those of you who don't know, Bitcoin's decimal places can be continuously moved further. That's also one of the things that no one really talks about, but it's also like a thing that's actually in the system.
So you know how like 0.01 is a million Satoshi? If we get to these numbers, all it takes is for people to kind of vote on it. If there's network consensus that says we need to have extra decimal places, they can be added in. It's fairly simple; it's not really anything difficult.
This was also one of the topics of discussion years ago about a $100 million Bitcoin because people were also saying we don't have enough decimal places. Bitcoin, like when you see it as a million Satoshis, we could in theory change that million Satoshis into like 10 million Satoshis or 100 million Satoshis by adding in extra decimal places.
You would still only have 0.01 Bitcoin, but in the actual dollar denomination, it would also completely change. It says if Bitcoin reaches a billion dollars, an investment of $1,000 would be worth $16.7 million in 13 years.
You can't believe the amount of people I've near begged over the years to buy 0.01 Bitcoin. You can't understand; that's currently what $1,000 is. $1,000 roughly gets you one/100th of a Bitcoin. It says $16.7 million in 2038.
It says an investment of $60, 0.001 Bitcoin, would be needed according to the guy from Fidelity to become a millionaire. If we get to the year 2038 and $60 made you a millionaire, I hope, hope, I don't know, I hope you've accumulated enough.
It's just about extrapolation and expanding. When I talk about the shortsightedness of people in this market, that's it. Think about it. How many people do you know were in crypto for the quick fast money? How many people sold their Bitcoin at $3 thinking it's done?
You know Bitcoin's like it can't go any higher. What happens when Bitcoin hits a million? It's going to $10 million. When Bitcoin's at $10 million, we're going to hit $37 million per coin at some point. It's going to happen.
When everything begins to cascade into Bitcoin, what's stopping it? If every country is buying, if every city is buying, if every person is accumulating as much Bitcoin as they can while they're still working in the year 2034 because you know that the price will continue to go up, what's the limit for Bitcoin's price?
If we have five years minimum left with Bitcoin, it's really crazy to think about. I'm excited to see all of it, but I'm also mortified at what it actually means. If MicroStrategy has half a million Bitcoin right now and it goes to a billion dollars per coin, think of the insane level of wealth that one company has.
It gets completely askew, basically back to or to the system that we currently have right now. This is why I continue to advocate for you to look over your portfolio and you try to continue to get your friends into the space.
I told you I know a couple of people who were buying it for their families because their families refused to pay attention. Didn't mean to make such an intense video; it's just more of a think about it. Think of where all of this is going.
Think of the next 20 to 30 years. It's a very important thing; you should always be thinking about the future in some capacity. Don't obsess over it and get terrified and afraid, but think about it. In the next 10 years, how rich do you want to be? Where do you want to live? What do you want to have in the next 20 years?
This year you want retirement, but then what? What do you want to do? How much more do you want to expand? Think of where Bitcoin in 20 years; think of where Bitcoin's going to be. I find it very fascinating.
We'll see what happens. These people will continue to buy up large amounts of Bitcoin, and I think, yeah, I think it's going to get interesting.
I do hope that you've all enjoyed. Hope you all are having a great day, morning, afternoon, evening, wherever you are, wherever you might be. I sincerely hope it's absolutely fantastic.
Thank you all once again for watching, listening, liking, commenting, and supporting, and I will most certainly be talking to you all soon. See you!