Bitcoin Has Never Seen Anything Like This Before | Mark Yusko

Bitcoin Has Never Seen Anything Like This Before | Mark Yusko

this is going to be the best
Thanksgiving ever right no more you’re
not welcome because you’re a crypto
person in the family people are gonna be
like oh come on come on come this is
gonna be awesome and people are gonna
celebrate the the crypto people in the
family this year and so if that fomo
period is like the previous two where
from November to December you know yeah
go up orders of magnitude
remember we went from 10,000 to 20,000
in 8 weeks at the time of writing
Bitcoin is trading at
64,8 24 down 4% in the past 24 hours
post having Bitcoin is still hanging
around between the 64 to $667,000 range
but these 51% swings are trivial
compared to what’s really happening
according to investor Mark
yuso in an interview with Scott meckler
yuso expressed that the math leads us to
to believe that 300 billion is entering
the crypto market with the Baby Boomers
according to yuso there’s $30 trillion
of baby boomers retirement funds in the
economy and 1% of that will be invested
in
Bitcoin yuso believes when this happens
within the next 12 to 18 months we
should see a dramatic increase in the
Bitcoin price yuso expressed that this
will be a classic Supply demand
situation for Bitcoin and it shouldn’t
be too much of a stretch for Bitcoin to
hit new highs by Thanksgiving and we
should see a
$150,000 price for Bitcoin by the end of
this bull
cycle let’s listen to what yuso has to
say you know there are there are
multiple factors in markets and and the
biggest one really is supply and demand
you know basic econ 101 and we had a a
pretty
significant demand shift and it hasn’t
fully played out in fact it hasn’t even
come close to fully playing out the the
math that that always amazes me I
believe in the next 12 months is so
we’re a couple months you know about
three months into the ETF and and we’ve
gotten about
10% of what I believe is coming into
this space from the the registered
investment advisors that control all the
Boomer cash so the Boomers have 30 odd
trillion with these financial advisers
not all of them will like UBS still
hasn’t said I can buy GB ibit in my in
my account right it’s my money my
account I can’t buy it because they know
it’s good for me Vanguard same thing so
there’s going to be 300 billion I
believe that’s 1% of 30 trillion that
comes in to the space Scott that’s
actually more money than has ever
converted to bitcoin in 15
years that’s a pretty amazing thing
because what people forget is that
multiplier effect of the bid ask right I
convert some Fiat into Bitcoin but then
I don’t want to sell it so someone’s got
to bid a higher price to get me to to
sell and so you get that multip now I
don’t think the multiplier is whatever
Bank of America says 118 yeah when when
we were talking pennies or dollars or
$10 or $20
the multiplier was really really big
today I’m going to say the
multipliers probably more like
20ish you know so 300 billion would add
Six Trillion of market cap here’s the
crazy thing in your 401k not not yours
personally but in people’s
401K they set the allocation on the day
they start their job and they choose one
overx so if there are seven choices they
put one sth in each and they never
change and they never rebalance not ever
so people putting this in their 401K I
mean not 401K in their retirement
account or
IRA it’s over and it’s your point
they’re not going to stare at it they’re
not going to look at it
and this idea that number go up that’s
not the point the point is the
utility is going to continue to go up
the embracing of the technology is going
to continue to go up and at the end of
the day it is a finite asset and the
thing is fine could 51% of the
participants change that sure but the
likelihood of that happening is is
really low and the reason behind it why
it might happen could be really
interesting so it’s kind of like a stock
split
but all that aside the demand for
blockchain technology of which Bitcoin
is a blockchain I I love this whole
debate right Bitcoin not
blockchain they they’re the same thing
right we have the Bitcoin Network that
is a blockchain network and the Bitcoin
token which secures the network through
block Rewards I don’t know why we debate
this I just makes no sense to me and
someone asked a question I thought was
interesting said if ethereum didn’t
exist and it was invented
today would anybody use
it could that’s interesting right
because it is slower and more expensive
than salana and others so why would you
go that way well the reality is it it
wasn’t invented second it was vented
first and has a larger installed base of
developers so it’s not the best
technology that wins it’s the technology
that gets critical mass first that’s
that’s how winning wins I keep going
back between the you know are we G to
look like web one web two with a
protocol stack or we gonna have all
these l1s and then you got a bridge and
the bridges are really crappy except the
chain link guys go no no no we we’re
great and we’ve solved it I’m like okay
I’ll I’ll take your word for it and then
you got the algo people and you got I
mean there’s all kinds of people saying
they’ve solved this but the reality is I
keep kind of coming back to the Lord of
the Rings one chain to rule all chains
which is proof of work is better than
all the others it just is it’s more
secure and if I’m gonna have an asset
that I want I’d rather have it onchain
than a pointer to an
AWS server
so if you think about what ordinals and
inscriptions and runes do that they’re
Superior I think to traditional nfts so
we’re starting to get to the point where
you could have l2s and
l3s on
bitcoin and we really do have one chain
to rule all chains but it’ll take a
while because there are other things out
there to watch the full interview check
out the link in the description
what do you think of Mark’s thoughts
here do you think Bitcoin will hit 150k
during this bull run leave a comment if
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Market thanks for watching and we’ll see
you on the next one
[Applause]

At the time of writing, Bitcoin is trading at $64,724, down 4% in the past 24 hours. Post-halving, Bitcoin is still hanging around between the 64 to 67 thousand range but these 5-10% swings are trivial compared to what’s really happening, according to Investor Mark Yusko. In an interview with Scott Mekler, Yousko expressed that the math leads us to believe that 300 billion is entering the market with the baby boomers. According to Yusko, there’s $30 Trillion dollars of babyboomer’s retirement funds in the economy, and that 1% of that will be invested in Bitcoin. Yusko believes when this happens, within the next 12-18 months, we should see a dramatic increase in the Bitcoin price. Yusko expressed that this will be a classic supply/demand situation for Bitcoin. And it shouldn’t be too much of a stretch or gamble for Bitcoin to hit new-highs by Thanksgiving, and we should see a 150 thousand dollar price for Bitcoin by the end of this bull cycle.

To watch the full interview:

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