MILLIONS OF PEOPLE ARE ABOUT TO USE CRYPTO! BITCOIN BULL TELLS CNBC SKEPTICS THAT BITCOIN WILL 20x!

MILLIONS OF PEOPLE ARE ABOUT TO USE CRYPTO! BITCOIN BULL TELLS CNBC SKEPTICS THAT BITCOIN WILL 20x!

how’s it going everyone it’s Sam we have
a Bitcoin hedge fund manager that is
talking to three different CNBC hosts
trying to explain where bitcoin’s going
in the future the hosts are very skeptic
so I want to walk you through that video
today or I want to play it for you kind
of give some my thoughts on it we also
have some big news sprinkled in
throughout today’s video I’m going to
give you some of the news in between
clips from CNBC but if if you don’t mind
before we get started hit subscribe turn
on the Bell notification underneath the
video so you can see future videos just
like this there’s also going to be a
link to Marx underneath the video and
over to coin W as well in case you want
to start trading cryptocurrency you can
use one of these two different exchanges
us right now on this the having and so
much more Anthony scari skybridge
Capital founder and managing partner uh
please weigh in we saw you weighing in
on on Twitter over the weekend when I
think a lot of folks were trying to
figure out what was going on we’ve seen
a big coin fall over the since that
weekend and and effectively stay where
it is despite where Equity markets are
trying to understand sort of these price
movements well I you know I wish I could
understand the price moves myself I
think where where I’m coming from is’s a
little bit of longer term as opposed to
just the week to week or day-to-day
price movements I think the point I’m
trying to make is that Bitcoin is on an
adoption curve uh if you go back to web
1 Bitcoin is sort of in the 1999 point
in the Spectrum from and so just imagine
where we went from web one to where we
are today and so my my point is you
won’t see this be a inflation hedge or a
store of value as other pundits are
saying until you get over a billion
users and so right now it’s going to be
way more volatile than people like and
people look at it as a risk on or riskof
trade until we get to that adoption code
so there’s a good point being made right
there this is a highrisk high reward
in most people’s minds uh asset it’s a
high beta right you’re not buying this
because you want it to go up 3% a year
This Is Not Gold that’s going to stay
stagnant for 5 years this is not cash
this is something that’s that’s going to
have high volatility he says until it’s
much larger now something that could be
making it much larger this was just
announced usdc stable coin on ethereum
and salana for stripe payments stripe
just in the US has 139,000 active
websites or 56% total Global they are uh
used by 46 countries with 2.72 million
websites some of the biggest companies
in the world now they announced this
they’ve done this in the past too back
in
2018 but now they’re talking about
instantly settling onchain and
automatically convert to Fiat now I’ve
seen other people talk about this too
and to be clear this is stripe not strip
strike strike is the jack MERS company
but I actually saw strike uh Jack MERS
talk about using the lightning Network
for instant
transactions basically cutting out the
middleman having instant finality and
also it just goes through the lightning
Network then converts back to Fiat like
right away this is much cheaper than
charging 2 or 3% 4% for credit cards I
actually paid 4% today to use a credit
card so yeah I can understand why they’d
want to get into this and the whole
industry is much more mature so
obviously crypto was a much different uh
much different Beast back in
2018 right I mean that was also the bare
market now we’re going into the bull
market companies are a lot bigger you
have black rock coming in the space of
decentralized money markets so the
game’s a little bit different this will
onboard a lot of people though to crypto
right even if they don’t know it which
we’ll talk more about here in a moment
that’s my point and given the adoption
curve what do you see right now as the
upside and number and what do you see as
the downside number call it 12
months well I mean look you could get
shocks like Wars and you could get you
know God forbid a terrorist Calamity or
something like that that could take
Bitcoin down 10 or 15% but I think you
have a heavy bid on bitcoin because of
the demand from the ETFs and from the
eventual drivers of things like the
wirehouses that will enter the space as
well as the 401K market so so I don’t
think you have 50% downside but you
could have 10 or 15% downside just
because it’s still a risk on riskof
asset but long term with the having
coming this week Andrew I think this
thing trades to 170 possibly to $200,000
and and that’s consistent with where
it’s been over the 15 years of Bitcoin
it’s so sensitive to the starting point
though like what you want to say how
this behaves or what does it typically
do under different environments I just
looked at a chart yesterday since June
30th of last year Bitcoin has been beat
for beat with Nvidia stock okay I mean
nobody’s saying it’s exactly the same
thing but it’s sort of moves along this
hey we’re investing in this big picture
of future this seems to be a way to play
it um the other piece of it is if the
analogy is 1999 and web 1.0 what was the
central asset that you would have bought
in 1999 bandwidth that’s that’s done
nothing but gone down in value like
what’s the thing you’re investing if if
you bought okay let’s use Amazon as an
example and I think I think this is the
point that Andrew is trying to make is
just risk on or risk aable in 1999
Amazon was an emerging stock on an
emerging technology and it was quite
volatile and you lost 20 to 50% eight
times in Amazon I won lost 80% yeah that
one time in March of 2020 it went down
80% but if you held Amazon over that
period of time $10,000 is worth a little
over $14 million today and so so and
Amazon is now trading consistently with
the volatility of the overall S&P 500
and certainly wasn’t also producing cash
flow 25 years ago I use a lot of Amazon
I don’t use a lot of Bitcoin is that a
problem at some point and what do you
expect to happen when we go through a do
com bust type moment for the broader
Market does the feeling about Bitcoin I
I think if we go through a.com bust in
the broader Market in the next year or
two I think you’ll have a price shock in
Bitcoin consistent with the Doom bus
however if you’re willing to hold that
asset which we are over a rolling foure
period of time no one has ever lost
money in Bitcoin that’s a good question
if not too many people use Bitcoin can
can it continue to grow basically and I
have two main thoughts on this first you
don’t really need people to understand
it or to know that they’re using it like
what we just talked about here there are
going to be hundreds of thousands t uh
tens of thousands no hundreds of
thousands millions tens of millions
hundreds of millions of people that are
going to be using this uh without even
knowing like it’s just going to go from
fiot to crypto to Fiat that is the whole
point people don’t even really have to
understand what’s happening they just
are like wow they can offer me instant
finality now that’s really cool uh my
fees are lower when people pay with
crypto okay and they don’t have to
understand everything they don’t really
have to even know that they’re using it
if the tech is there then it’s going to
be adopted right Bitcoin doesn’t need
everyone to understand how to use it
they need people with money to buy it
they need people that reach a lot of
people to use it right imagine if
everyone was using the lightning Network
they got all the benefits of it and they
had no idea I don’t think too many
people would be pissed off if they were
just using Bitcoin if there’s no
downside to it and right now using
lightning Network you know some people
would say that that’s the case uh but if
you’re willing to hold the asset for
let’s say five years John I think you do
very very well in the asset it doesn’t
have cash flow gold doesn’t have cash
flow uh but it does have cash flow in a
weird way because if you treat it like
cash cash can offer you a yield in the
bank and even though we had these
problems with things like blockfi during
the crash you know you could go to
places like Galaxy which is a in my
opinion a tremendously undervalued asset
probably the most undervalued asset in
the crypto space and you could get yield
in a borrowing agreement there so you do
have cash flow on bitcoin if you think
about it that way so they’re talking
about giving yield on bitcoin uh you
have to be very careful about that
especially after what we saw last bare
Market however there are ways that we’re
going to be able to make cash flow for
example if you don’t don’t hold the
actual physical Bitcoin or the pure form
Bitcoin if you hold an ETF you could
sell covered calls for example there
going to be I’m sure there are going to
be funds that self-covered calls for you
right that give you yield uh there are
going to be different ways of making
money so I’d be careful right now doing
that but there are possibilities in the
future to do something like that so long
term uh I predict people will do very
well and I think the the point I was
trying to make to and through through
Twitter and here on the show is that
yeah sure it’s 14 years old uh but it’s
still very young in terms of the
adoption in terms of adoption Visa Visa
the ETF you look out your your four-year
sort of time Horizon what percentage of
Bitcoin effectively is owned by Black
Rock on behalf of individuals versus
individuals owning it themselves well
it’s a good question so let’s say
there’s 15 or 20 billion now just using
rough numbers and the assets got a
trillion four in market capitalization
and let’s say it went up 5x from that um
and let’s say the market capitalization
didn’t move it’s stole less than 10% of
the overall ownership of Bitcoin so uh
this whole notion that the ETFs are
going to overly centralized Bitcoin I
don’t buy I think what the ETFs are
though is there a great conduit for
people that are used to buying does ETF
create more price Discovery I mean in
some ways you think it should create
more price discovery which some
obviously has though Andrew look I mean
I think we were 40 but in the initial
stages the discovery will always be
about adoption so it should go up the
question is long term does it create a
sort of different sense of Discovery and
you also have to think that the initial
the people who own Bitcoin today were
always true believers right it was sort
of a special cohort of people who sort
of thought about Bitcoin in an unusual
way I don’t know in the future if you
have a large volume of Americans owning
it through ETFs hopefully they won’t All
Be True Believers in truth you’d want
them to all think different things about
it so there are going to be a ton of
people that own Bitcoin in the future
and they’re not all going to have to be
true believers right A lot of them are
just going to buy it through retirement
accounts and you don’t really have to be
a True Believer if you’re just buying it
as part of a portfolio a Target date
fund right you’re just going to continue
to add to your portfolio over time of
course there are going to be people that
time the market but there have always
been people the time the market I mean
the whales time the market that’s the
whole reason that we have Cycles right
someone is selling off a lot so you
don’t have to be a True Believer and
hold on forever people will do that but
I think as time goes on you know we’re
going to have more and more people that
are in Bitcoin for different reasons I
don’t know what that means well Len I
mean you you guys have a lot of
skepticism on the Dez I think the
skepticism is well founded I started out
as a skeptic I think what got me past
being a skeptic is the notion that this
is immutable it’s a it’s decentralized
in a way that makes it very powerful the
network itself is scaling and if you
think about the way we treat money in
our society over the last 5,000 years
Bitcoin checks all of the boxes the only
box it doesn’t check is Central Bank
manipulation which I think it makes it
way more powerful and so at a trillion
four could this trade to half the market
capitalization of gold where gold is $16
trillion dollar today we believe it can
we actually think it’s going to go
through the market capitalization of
gold and if you’re making the point that
uh the American owners in an ETF are not
going to be enough to get it there uh I
disagree because over time the
acceptance regulatorily is going to
allow people to put it in the portfolio
a 1% position in these Global portfolios
takes it there there it is Bitcoin could
be bigger than gold I think we would all
be very happy if that were the case
Bitcoin would be moving up into that 1.2
1.4 1.5 million range and you know in my
last video I talked about how Bitcoin
will be a status symbol it’s going to be
huge if you hold the Bitcoin if you
haven’t seen that video you can check it
out on the end screen but yeah we do
have more people let me ignore that we
have more Banks more people buying
Bitcoin and that’s going to continue to
happen yes there are going to be some
off days like for example today ibit
didn’t buy any Bitcoin for the second
day in a row and gbtc sold $140 Million
worth of bitcoin so there’re going to be
days like like this where we go down
right the maybe not the price of Bitcoin
but the ETF flows go down it changes
everyone’s minds but over time there’s
going to be much more adoption I can
guarantee you that now let me know your
thoughts underneath the video do you
want more videos like this where I cover
someone’s interview right on CNBC let me
know in the comment section again you
can check out the link to Marx and to
coin W and I’ll see you in the next one
bye

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