Crypto is no longer the ‘Wild West’: Bitcoin expert

Crypto is no longer the ‘Wild West’: Bitcoin expert

well Bitcoin having a really strong
session right now up 3% to
66372 per coin after its first having
event since 2020 concluded on Friday
over the weekend the token has been on a
steady climb Rising 5% now the Bitcoin
having event is this moment that occurs
about every four years when the supply
of Bitcoin is reduced by 50% it also
Cuts incentives to bitcoin min and
drives up the price they have to pay to
put new Bitcoins into circulation
joining me now in a fox business
exclusive on on maybe the next catalyst
is the Bitcoin Foundation chair Brock
Pearson early adopter very early adopter
of Bitcoin uh Brock okay so the having
event has concluded everybody was
waiting years for that what is the next
Catalyst you
see well I mean it’s what we’ve seen
Bitcoin had record fees during this
having because a lot of what we call two
technologies the idea of building on
bitcoin if you’ve heard of ethereum it’s
all the other applications that had
moved away from Bitcoin but Bitcoin is
back and delivering smart functionality
nft functionality meme Technologies all
of these things are now being built on
top of Bitcoin uh for the first time
since almost a decade ago and so in
anticipation of that record fees as
people are trying to get in to be the
first on having all these new things
that are being built on top of Bitcoin
very exciting and um I’m I’m happy with
the price remember people buy the rumor
and sell on the news so we were at
$20,000 call it you know earlier this
year we had a record high usually
there’s a bit of a selloff leading to
the actual event hence the news and uh
we’re in we’re in a very good position
very bullish on bitcoin right now yep
and then the record high was above
$770,000 uh we’ve come a little bit off
the boil there but I I I look at what’s
going on with Bitcoin right now and you
could argue that the biggest fire that
Lit the heat under Bitcoin was the
approval of the spot Bitcoin ETFs which
today are moving in lock step with
Bitcoin that’s that’s what they do uh
and they’re they’re moving higher when
you look at some of these spot Bitcoin
ETFs is there any difference between any
of them beyond the fee that’s charged I
just want to educate our viewers on
that well nothing that I’ve uh seen in
terms of these are regulated uh vehicles
uh they’re all
required uh to to be the best in breed
best practices this is no longer the
wild west you know and remember the wild
west became California but this is kind
of like bcad once the SEC approved these
spot Bitcoin ETFs this is now
institutional it’s regulated and it is
here to stay and the retail public can
now safely invest it’s not like it used
to be you don’t have to worry about
losing your Bitcoin as you did for so
long long though we still have a motto
we like to live by which is not your
keys not your coins meaning once you’ve
learned and you’ve been in the ETF
markets for a long time please take the
time to educate yourself how how on how
to hold Bitcoin for yourself and be your
own custodian you advised El Salvadoran
president naive bu back just a couple of
years ago when he was quite a forward
thinker some said absolutely crazy and
what he did was he allowed the country
to adopt Bitcoin as legal tender it’s
been some a good chunk of time here can
you get open the window into how that is
going are people using it in El Salvador
to pay for
things yeah well a few things happened
one president buelli went from a head of
state to a world leader the future
favors the Bold fortune favors the bold
and a lot of amazing things have come
from that but at the time only 30% of
the population of El Salvador was banked
the Gio wallet and the government
incentive to give free Bitcoin to
everyone that registered caused from 30%
Financial inclusion to 70% Financial
inclusion within 12 months I’d say
that’s flipping the script in terms of
driving accessibility for those that
don’t have access to financial tools
Where We As Americans are so blessed and
often take for granted Brock what’s your
outlook I always love to ask you this
for Bitcoin and the price of it in the
next let’s just say
year well I think there’s a very good
chance that we’re I think it’s likely
we’ll see north of 100,000 I think
150,000 is probably a reasonable Target
at some point this year and long term
you know it’s a million or more it’s a
binary outcome Bitcoin goes either to
zero not really or over a million you
know unless you know something happens
so it’s really binary in terms of what
will happen over time and so I’m bullish
I definitely advise everyone to go out
and buy at least a $100 $50 $20 of
Bitcoin if you’ve never done it before
or put just a little bit in your uh in
your retail brokerage account so that
you can begin learning I don’t encourage
people to invest in things other than
themselves take the time to be informed
so you can make informed decisions for
yourself Brock good to see you thank you
so much so good to see you Brock Pierce

Bitcoin Foundation Chairman Brock Pierce shares what to watch for after Bitcoin’s ‘halving’ event on ‘The Claman Countdown.’ #foxbusiness #theclamancountdown

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