1 00:00:00,080 --> 00:00:03,440 Speaker 1: Is bitcoin really going to a million or ten million? Well, actually, 2 00:00:03,480 --> 00:00:06,080 Speaker 1: I'm going to tell you why. I think that's actually bearished. Now, 3 00:00:06,080 --> 00:00:09,039 Speaker 1: this isn't some hypothetical. I'm going to show you how 4 00:00:09,080 --> 00:00:11,799 Speaker 1: five times over the last three hundred years, this exact 5 00:00:11,840 --> 00:00:14,880 Speaker 1: process has played out. I'm here in Bitcoin Mina. This 6 00:00:14,920 --> 00:00:17,560 Speaker 1: is the capital of capitol. I'm talking about Abu Dhabi. 7 00:00:17,640 --> 00:00:19,600 Speaker 1: I'm about to go on this stage. I'm gonna show 8 00:00:19,600 --> 00:00:22,080 Speaker 1: you exactly where we're at right now and the blueprint 9 00:00:22,200 --> 00:00:24,479 Speaker 1: of how we progress through twenty thirty, twenty forty, and 10 00:00:24,680 --> 00:00:27,440 Speaker 1: ultimately twenty fifty. If you want to know exactly where 11 00:00:27,480 --> 00:00:29,960 Speaker 1: we're at and how to navigate this, stick with me 12 00:00:30,000 --> 00:00:31,320 Speaker 1: as we go up on stage and break it down. 13 00:00:31,480 --> 00:00:34,559 Speaker 1: Bitcoin was always coming for everybody. This is not just 14 00:00:34,600 --> 00:00:38,000 Speaker 1: a new technology. This is a revolution. There is no 15 00:00:38,360 --> 00:00:41,279 Speaker 1: end to the monetary debasement that's coming that would put 16 00:00:41,280 --> 00:00:44,640 Speaker 1: bitcoin at a twenty one trillion market gap one million 17 00:00:44,680 --> 00:00:48,360 Speaker 1: dollars per bitcoin. At that point, the dollar doesn't buy anything. No, 18 00:00:48,520 --> 00:00:51,280 Speaker 1: that's absolutely not right. And this is where bitcoin evolves 19 00:00:51,320 --> 00:00:54,320 Speaker 1: beyond just a financial asset. You no longer measure your 20 00:00:54,320 --> 00:00:57,480 Speaker 1: wealth in fiat. You measure your wealth in bitcoin, and 21 00:00:57,560 --> 00:01:00,800 Speaker 1: at this point it's bitcoin to about four hundred million 22 00:01:00,920 --> 00:01:04,200 Speaker 1: dollars per bitcoin. Are you going to take advantage and 23 00:01:04,240 --> 00:01:06,760 Speaker 1: help lead this revolution or a you're just going to 24 00:01:06,800 --> 00:01:13,360 Speaker 1: watch it pass by? Please join me and welcoming. All 25 00:01:13,480 --> 00:01:16,520 Speaker 1: right now, in order to understand where we're going, let's 26 00:01:16,520 --> 00:01:18,880 Speaker 1: just jump and look into the future for us. Can 27 00:01:18,920 --> 00:01:22,399 Speaker 1: Let's imagine that we're in the year twenty fifty. Bitcoin 28 00:01:22,560 --> 00:01:26,120 Speaker 1: isn't priced in dollars, euros, in or duran anymore, because 29 00:01:26,480 --> 00:01:28,960 Speaker 1: at this point these currencies don't matter. Global trade is 30 00:01:29,000 --> 00:01:32,800 Speaker 1: now happening in Satoshi's Sovereign nations are now settling in bitcoin, 31 00:01:32,959 --> 00:01:35,640 Speaker 1: and your wealth is denominating in bitcoin. At this time, 32 00:01:36,200 --> 00:01:39,560 Speaker 1: one bitcoin equals one bitcoin and the world has changed. 33 00:01:39,720 --> 00:01:43,280 Speaker 1: This isn't some wild fantasy, This isn't some speculation. What 34 00:01:43,280 --> 00:01:45,120 Speaker 1: I'm going to break down for you right now is 35 00:01:45,160 --> 00:01:48,680 Speaker 1: I'm going to show you how this same historical pattern 36 00:01:48,960 --> 00:01:52,200 Speaker 1: has happened five times over the last three hundred years, 37 00:01:52,520 --> 00:01:55,960 Speaker 1: and it's a repeatable pattern, a predictable pattern that gives 38 00:01:56,040 --> 00:01:58,480 Speaker 1: us a blueprint to follow along what I call a 39 00:01:58,640 --> 00:02:02,080 Speaker 1: quantum leap. Now, this is a point when technology changes 40 00:02:02,120 --> 00:02:03,680 Speaker 1: the rules of the game It changes the way that 41 00:02:03,680 --> 00:02:06,480 Speaker 1: we work, interact, and live in the world, and the 42 00:02:06,560 --> 00:02:10,040 Speaker 1: rules change, the balance of power is shifted forever, and 43 00:02:10,080 --> 00:02:12,040 Speaker 1: the way that we view the world we interact in 44 00:02:12,080 --> 00:02:14,480 Speaker 1: the world has changed. Now, as I said, this happens 45 00:02:14,480 --> 00:02:17,799 Speaker 1: on a fifty year time frame, since we had the 46 00:02:18,080 --> 00:02:21,080 Speaker 1: birth of the Industrial revolution in the mid seventeen hundreds. 47 00:02:21,520 --> 00:02:24,960 Speaker 1: Each one of these represents a time when the entire 48 00:02:25,080 --> 00:02:29,960 Speaker 1: world completely changes, what I'm calling a quantum shift. We 49 00:02:30,000 --> 00:02:32,639 Speaker 1: had the Industrial Revolution. About fifty years later, we had 50 00:02:32,639 --> 00:02:35,760 Speaker 1: steam engines and railways. About fifty years later, we had 51 00:02:35,840 --> 00:02:39,880 Speaker 1: steel heavy equipment. We had electricity. About fifty years later, 52 00:02:39,919 --> 00:02:45,079 Speaker 1: we had automobiles, oil, oil fuels, mass production. About fifty 53 00:02:45,120 --> 00:02:47,320 Speaker 1: years later, we had the birth of the microprocess, of 54 00:02:47,320 --> 00:02:50,960 Speaker 1: which brought birth to the telecom, the personal computer, and 55 00:02:51,000 --> 00:02:53,320 Speaker 1: the Internet. Now, one thing to keep in mind with 56 00:02:53,400 --> 00:02:56,320 Speaker 1: this is that this is not about one new technology. 57 00:02:57,040 --> 00:03:00,239 Speaker 1: This is about a cluster of technologies that come together 58 00:03:00,680 --> 00:03:03,160 Speaker 1: to give us a new set of building blocks to 59 00:03:03,240 --> 00:03:06,480 Speaker 1: build things that we can't even imagine today. Humans are 60 00:03:06,520 --> 00:03:08,200 Speaker 1: no good to imagine in the future because all we 61 00:03:08,240 --> 00:03:10,920 Speaker 1: can do is imagine a better version of what we 62 00:03:11,000 --> 00:03:14,440 Speaker 1: have now. We're going into what I'm calling the sixth Revolution. 63 00:03:14,520 --> 00:03:17,080 Speaker 1: This is the sixth time we've seen this cycle repeat 64 00:03:17,320 --> 00:03:21,280 Speaker 1: and what I'm calling the decentralized revolution. Now, it's not 65 00:03:21,400 --> 00:03:24,959 Speaker 1: just that the world completely changes from the technology, which 66 00:03:24,960 --> 00:03:28,800 Speaker 1: of course it does, but it drives all financial markets. 67 00:03:29,120 --> 00:03:31,760 Speaker 1: The only place to invest for the last fifty years 68 00:03:31,760 --> 00:03:35,560 Speaker 1: has been the Internet and personal computers and telecommon. Before that, 69 00:03:35,800 --> 00:03:37,880 Speaker 1: it was Ford and GM and GM. Before that, it 70 00:03:37,920 --> 00:03:40,560 Speaker 1: was oil and it was steel. Each one of these 71 00:03:41,080 --> 00:03:45,119 Speaker 1: cycles represents a new set of generational wealth, and each 72 00:03:45,160 --> 00:03:46,840 Speaker 1: one of us right now are sitting at this point 73 00:03:46,840 --> 00:03:50,160 Speaker 1: where we have the ability to create generational wealth as 74 00:03:50,240 --> 00:03:54,520 Speaker 1: this cycle unfolds. Now, as I said this, each one 75 00:03:54,560 --> 00:03:57,320 Speaker 1: of these cycles that's happened five times now we're on 76 00:03:57,360 --> 00:04:00,720 Speaker 1: the six has a repeatable process and broken down into 77 00:04:00,840 --> 00:04:04,760 Speaker 1: four stages. Now, the first stage is what we call 78 00:04:04,840 --> 00:04:07,640 Speaker 1: the eruption phase. Now we have the Big Bang, which 79 00:04:07,680 --> 00:04:10,480 Speaker 1: is where the new invention came and there's a lot 80 00:04:10,480 --> 00:04:12,240 Speaker 1: of excitement about it, and there's some people who like 81 00:04:12,280 --> 00:04:14,920 Speaker 1: to tinker, the nerds maybe they like to play with it, 82 00:04:14,960 --> 00:04:17,839 Speaker 1: and we have this eruption that happens in this Big Bang. Now, 83 00:04:17,960 --> 00:04:21,400 Speaker 1: it's worth noting that this is because the previous fifty 84 00:04:21,480 --> 00:04:24,359 Speaker 1: year cycle is starting to die out and we have 85 00:04:24,440 --> 00:04:26,440 Speaker 1: a new bang, the big bang that takes off. Now 86 00:04:26,440 --> 00:04:29,919 Speaker 1: this is the eruption or the emergence of this fifty 87 00:04:30,000 --> 00:04:32,440 Speaker 1: year cycle. The second phase. I've went ahead and put 88 00:04:32,440 --> 00:04:34,400 Speaker 1: a green line here shows sort of where I believe 89 00:04:34,440 --> 00:04:37,560 Speaker 1: we are right now, which is the frenzy phase. Now 90 00:04:37,600 --> 00:04:40,599 Speaker 1: this is about speculation in this phase. This is the 91 00:04:40,680 --> 00:04:44,160 Speaker 1: emergence of this cycle. Then we go to phase three, 92 00:04:44,560 --> 00:04:47,240 Speaker 1: which is the synergy phase. This is wherely where we 93 00:04:47,279 --> 00:04:51,880 Speaker 1: start to see integration of these new technologies into society. 94 00:04:52,200 --> 00:04:55,040 Speaker 1: And then finally we have the fourth phase, which is maturity. 95 00:04:55,360 --> 00:04:59,039 Speaker 1: This is where the global standardization happens and the next 96 00:04:59,120 --> 00:05:02,120 Speaker 1: great surge begins. So now you have sort of like 97 00:05:02,160 --> 00:05:04,360 Speaker 1: a little bit of a framework of what I'm talking about. 98 00:05:04,520 --> 00:05:06,720 Speaker 1: And the old system that we have dying are these 99 00:05:06,760 --> 00:05:10,120 Speaker 1: centralized systems. And so the last cycle, which we talked 100 00:05:10,120 --> 00:05:13,279 Speaker 1: about telecom, personal computers, Internet has started to die. The 101 00:05:13,320 --> 00:05:16,400 Speaker 1: Internet has lots of problems, lots of centralization, and so 102 00:05:16,480 --> 00:05:19,400 Speaker 1: now we have a decentralized wave that's starting to take off, 103 00:05:19,640 --> 00:05:22,159 Speaker 1: giving us a new set of protocols for money, for 104 00:05:22,240 --> 00:05:25,200 Speaker 1: communication and other things like that. And this is why 105 00:05:25,200 --> 00:05:29,920 Speaker 1: I'm calling it the decentralized Revolution. Now, each of these 106 00:05:29,920 --> 00:05:32,640 Speaker 1: four phases, as I said, are very predictable, and we 107 00:05:32,680 --> 00:05:36,320 Speaker 1: can map out this decentralized revolution, and we can overlay 108 00:05:36,400 --> 00:05:40,560 Speaker 1: bitcoin perfectly to this. So it gives us a perfect example, 109 00:05:40,800 --> 00:05:43,880 Speaker 1: and we'll break down exactly where we'll be in twenty fifty. 110 00:05:43,920 --> 00:05:46,080 Speaker 1: As I framed in the beginning, this is not some 111 00:05:46,279 --> 00:05:49,720 Speaker 1: hypothetical fantasy that, of course we're all dreaming and believing in. 112 00:05:50,520 --> 00:05:53,400 Speaker 1: But instead history shows us this is what the reality 113 00:05:53,440 --> 00:05:55,880 Speaker 1: will be. All right. Now, what's one more thing I 114 00:05:55,880 --> 00:05:59,960 Speaker 1: want to overlay is it also overlays perfectly with money. 115 00:06:00,279 --> 00:06:03,120 Speaker 1: If you go back through thousands of years of monetary history, 116 00:06:03,360 --> 00:06:06,560 Speaker 1: you'll understand that money, as we know it is both 117 00:06:06,640 --> 00:06:11,120 Speaker 1: evolutionary and emergent, So it goes through four phases. Anybody 118 00:06:11,160 --> 00:06:14,520 Speaker 1: read Safety's book The Bitcoin Standard, you might understand some 119 00:06:14,640 --> 00:06:17,080 Speaker 1: of this. So we've had lots of forms of money 120 00:06:17,080 --> 00:06:20,680 Speaker 1: from feathers, rocks, and seashells, and eventually gold emerged and 121 00:06:20,720 --> 00:06:22,880 Speaker 1: it goes from a collectible phase. Oh look at this 122 00:06:22,960 --> 00:06:25,320 Speaker 1: cool rock, Look at this cool feather, this cool seashell 123 00:06:25,400 --> 00:06:29,120 Speaker 1: let's collect it. Now some things, obviously not all of them. 124 00:06:29,440 --> 00:06:33,960 Speaker 1: Some collectibles could emerge, could evolve to the next stage, 125 00:06:33,960 --> 00:06:36,800 Speaker 1: which becomes of store of value. Now, in this store 126 00:06:36,800 --> 00:06:39,680 Speaker 1: of value phase, we see this today, lots of wealthy 127 00:06:39,760 --> 00:06:45,520 Speaker 1: people store their value in collectibles, fine art, old cars, paintings, 128 00:06:46,520 --> 00:06:50,400 Speaker 1: Pokemon cards, baseball cards, whatever that may be. Now, if 129 00:06:50,800 --> 00:06:53,680 Speaker 1: some of these store value assets have the right qualities 130 00:06:53,720 --> 00:06:57,279 Speaker 1: most of them don't to be money, then it could 131 00:06:57,320 --> 00:07:00,280 Speaker 1: potentially emerged evolve to the final the next day of 132 00:07:00,320 --> 00:07:04,640 Speaker 1: medium exchange. Now it has to be portable, divisible, durable, recognizable, 133 00:07:04,960 --> 00:07:07,560 Speaker 1: et cetera. A mona Lisa could not make a medium 134 00:07:07,560 --> 00:07:10,240 Speaker 1: exchange because of course you can't divide it. A cow 135 00:07:10,360 --> 00:07:13,120 Speaker 1: could be divided, but it's not fungible parts for parts. 136 00:07:13,360 --> 00:07:15,320 Speaker 1: So if we have the right attributes, we can go 137 00:07:15,320 --> 00:07:18,200 Speaker 1: to the medium xchange and then ultimately, if we've met 138 00:07:18,280 --> 00:07:20,600 Speaker 1: all of these levels, we could go to the unit 139 00:07:20,640 --> 00:07:24,800 Speaker 1: of account. So this overlays perfectly with technology. So we're 140 00:07:24,840 --> 00:07:27,440 Speaker 1: witnessing all of this at one time. So let's just 141 00:07:27,480 --> 00:07:29,600 Speaker 1: break down. Let's jump into the pass real quick. Let's 142 00:07:29,640 --> 00:07:32,320 Speaker 1: just recap where rap phase one, which is eruption. This 143 00:07:32,360 --> 00:07:34,480 Speaker 1: is from twenty ten to twenty twenty. We're going to 144 00:07:34,560 --> 00:07:37,560 Speaker 1: go pretty quick through this. So in this phase again, 145 00:07:37,600 --> 00:07:41,080 Speaker 1: this really is represented by retail adoption. Right in this 146 00:07:41,160 --> 00:07:44,800 Speaker 1: first phase, it's defined by the same challenges though as 147 00:07:44,960 --> 00:07:49,000 Speaker 1: every other one of these revolutions in history, which is 148 00:07:49,040 --> 00:07:54,480 Speaker 1: the technology is limited by scalability. Right when automobiles were introduced, 149 00:07:54,480 --> 00:07:57,760 Speaker 1: for example, within three years, there's two hundred and fifty manufacturers, 150 00:07:57,920 --> 00:08:01,120 Speaker 1: but they couldn't scale. There was no roads, gas stations, 151 00:08:01,120 --> 00:08:04,000 Speaker 1: no tires. The Internet was out for over twenty years. 152 00:08:04,000 --> 00:08:06,280 Speaker 1: By the year two thousand, after the dot com boom, 153 00:08:06,360 --> 00:08:08,960 Speaker 1: less than ten percent of people had bought anything online 154 00:08:09,040 --> 00:08:11,920 Speaker 1: because the Internet was too slow and it couldn't scale. 155 00:08:12,280 --> 00:08:14,280 Speaker 1: The same thing we saw with bitcoin. It was hampered 156 00:08:14,320 --> 00:08:17,640 Speaker 1: with scaling solutions, which is exactly what's supposed to happen 157 00:08:17,720 --> 00:08:21,360 Speaker 1: in the first phase, which led to other things like 158 00:08:21,440 --> 00:08:24,000 Speaker 1: alt coins. But we'll get back to that in a second. Now, 159 00:08:24,040 --> 00:08:27,600 Speaker 1: this overlaps perfectly with money. So in this first phase 160 00:08:27,640 --> 00:08:30,400 Speaker 1: ten twenty ten to twenty twenty, bitcoin is in this 161 00:08:30,560 --> 00:08:34,199 Speaker 1: collectible phase. Now we can see some illustrations of this. 162 00:08:34,520 --> 00:08:38,720 Speaker 1: We had a famous Laslo spending ten thousand bitcoin on 163 00:08:38,800 --> 00:08:43,240 Speaker 1: a pizza back in twenty ten. So this bitcoin, this collectible, 164 00:08:43,520 --> 00:08:45,000 Speaker 1: what is it? Let's see what we can do with it? 165 00:08:45,040 --> 00:08:47,520 Speaker 1: Would anybody trade me one collectible for another? How about 166 00:08:47,520 --> 00:08:50,880 Speaker 1: some pizzas it was a groundbreaking experiment. Of course it 167 00:08:50,920 --> 00:08:53,160 Speaker 1: was a very expensive pizza looking back at it. But 168 00:08:53,200 --> 00:08:56,719 Speaker 1: remember each one of these cycles is held back by scaling, 169 00:08:57,080 --> 00:08:59,760 Speaker 1: and so in this scaling, then we had this experimentation, 170 00:09:00,120 --> 00:09:02,400 Speaker 1: this alt coin boom. Well, let's make ones that are 171 00:09:02,400 --> 00:09:05,400 Speaker 1: faster and cheaper and more private. But this is one 172 00:09:05,760 --> 00:09:09,480 Speaker 1: piece that's always their present. It was a necessary step. 173 00:09:09,840 --> 00:09:13,880 Speaker 1: Now I believe that this collectible phase really headed up 174 00:09:13,920 --> 00:09:16,959 Speaker 1: in twenty twenty, and we can see where this really 175 00:09:17,000 --> 00:09:21,600 Speaker 1: took a blowoff top with NFTs, the ultimate collectible. The 176 00:09:21,679 --> 00:09:25,440 Speaker 1: NFT market exploded in twenty twenty, growing three hundred percent 177 00:09:26,000 --> 00:09:30,439 Speaker 1: over two hundred and fifty million dollars in transactions. Ninety 178 00:09:30,480 --> 00:09:32,439 Speaker 1: seven percent of walls were using them, but by twenty 179 00:09:32,480 --> 00:09:36,040 Speaker 1: twenty one it got to forty one billion. As you 180 00:09:36,080 --> 00:09:39,280 Speaker 1: can see, by twenty twenty two it completely fell off. 181 00:09:39,320 --> 00:09:43,200 Speaker 1: A clip trading volume dropped ninety seven percent, and today 182 00:09:43,760 --> 00:09:48,160 Speaker 1: reports are that ninety nine percent of NFT projects are dead. 183 00:09:48,440 --> 00:09:51,640 Speaker 1: So the collectible phase was a necessary step, but it's 184 00:09:51,679 --> 00:09:54,160 Speaker 1: not the future. Now we can see that going into 185 00:09:54,160 --> 00:09:56,319 Speaker 1: phase two, which is then the store of value phase. 186 00:09:56,360 --> 00:10:00,200 Speaker 1: The seeds were already planted early on. We saw really 187 00:10:00,240 --> 00:10:03,800 Speaker 1: back in twenty thirteen, venture capital fund Addison Horowitz already 188 00:10:03,840 --> 00:10:07,720 Speaker 1: started to invest into bitcoin startups, trying to help build 189 00:10:07,760 --> 00:10:11,679 Speaker 1: that next stage we saw twenty seventeen, CBE and CME 190 00:10:11,800 --> 00:10:14,160 Speaker 1: started doing futures. That was really the first time we 191 00:10:14,200 --> 00:10:18,280 Speaker 1: started seeing institutional adoption coming in for the store value. 192 00:10:18,360 --> 00:10:21,800 Speaker 1: Twenty eighteen, fight Deli started planting the seeds to get 193 00:10:22,800 --> 00:10:26,080 Speaker 1: other institutions in as well, and so that's where it phased. 194 00:10:26,080 --> 00:10:27,960 Speaker 1: Now looking at some of the prices, we can see 195 00:10:27,960 --> 00:10:31,079 Speaker 1: in twenty ten, these on the left are store of 196 00:10:31,200 --> 00:10:34,040 Speaker 1: value assets. So these are assets that we store a 197 00:10:34,120 --> 00:10:37,640 Speaker 1: wealth in. Obviously real estate, gold, collectibles, equities, real estate. 198 00:10:37,880 --> 00:10:40,200 Speaker 1: Now gold was only a five trillion dollar asset in 199 00:10:40,200 --> 00:10:42,240 Speaker 1: twenty ten. By twenty twenty it was eleven and a 200 00:10:42,280 --> 00:10:44,840 Speaker 1: half trillion. Real estate was about one hundred and eighty 201 00:10:44,840 --> 00:10:47,400 Speaker 1: trillion by twenty twenty three hundred twenty six trillion, growing 202 00:10:47,400 --> 00:10:50,400 Speaker 1: out of six percent arr Now, during this time, all 203 00:10:50,480 --> 00:10:52,720 Speaker 1: store of value assets went up by about eight percent. 204 00:10:53,880 --> 00:10:57,160 Speaker 1: Arr Bitcoin went up four four hundred and twenty six percent. 205 00:10:57,280 --> 00:10:59,640 Speaker 1: Amazing time to be in bitcoin. During that time, we 206 00:10:59,640 --> 00:11:02,839 Speaker 1: can see that bitcoin went from about thirty cents for 207 00:11:02,920 --> 00:11:06,000 Speaker 1: a bitcoin to twenty eight thousand dollars, again an ar 208 00:11:06,080 --> 00:11:09,200 Speaker 1: are of forty four twenty six percent. Now during this time, 209 00:11:09,760 --> 00:11:14,160 Speaker 1: Bitcoin by twenty twenty took about zero percent of store 210 00:11:14,280 --> 00:11:17,200 Speaker 1: value assets. Not even a blip, not even a drop 211 00:11:17,240 --> 00:11:20,320 Speaker 1: in the bucket. Okay, now let's get into some of 212 00:11:20,360 --> 00:11:22,800 Speaker 1: this future. Okay. Now, Phase two is what we call 213 00:11:22,880 --> 00:11:25,439 Speaker 1: the frenzy phase, and this is where we're at today. Right, 214 00:11:25,559 --> 00:11:27,680 Speaker 1: this is going to be unlike anything we've ever seen, 215 00:11:27,880 --> 00:11:30,839 Speaker 1: and no matter how bullish you are, you're not bullish enough. Now, 216 00:11:30,840 --> 00:11:34,240 Speaker 1: this is where bitcoin evolves from the collectible phase and 217 00:11:34,440 --> 00:11:39,720 Speaker 1: cements itself as the premiere store values. We're in this 218 00:11:39,800 --> 00:11:43,360 Speaker 1: institutional frenzy phase and we're starting to see institutional adoption 219 00:11:43,480 --> 00:11:45,360 Speaker 1: come in. And now of course here we are talking 220 00:11:45,360 --> 00:11:48,199 Speaker 1: about sovereign adoption that both happen in this phase. Now, 221 00:11:48,200 --> 00:11:51,800 Speaker 1: this maps again in the evolution of money, and we'll 222 00:11:51,840 --> 00:11:54,560 Speaker 1: complete the store value phase. But this is where we're 223 00:11:54,559 --> 00:11:56,920 Speaker 1: at today now. Again, not all collectibles make it to 224 00:11:57,000 --> 00:12:00,679 Speaker 1: this next level, but bitcoin will. I do want to 225 00:12:00,679 --> 00:12:02,680 Speaker 1: point out real quick for everybody who thinks that they're 226 00:12:02,679 --> 00:12:05,640 Speaker 1: too late, that maybe they're missed it. Using an S 227 00:12:05,720 --> 00:12:09,880 Speaker 1: curve dynamic is how we'll look at technology adoption. Now. 228 00:12:09,960 --> 00:12:11,599 Speaker 1: One way we can look at this S curve is 229 00:12:11,640 --> 00:12:13,880 Speaker 1: that the time it takes to go from zero to 230 00:12:13,920 --> 00:12:16,559 Speaker 1: ten percent is the time it takes to go from 231 00:12:16,600 --> 00:12:19,520 Speaker 1: ten to ninety percent. And the reason why I want 232 00:12:19,559 --> 00:12:21,640 Speaker 1: to show you this is because it illustrates that the 233 00:12:21,679 --> 00:12:26,000 Speaker 1: size of this move we're going into now is much larger. Sure, 234 00:12:26,000 --> 00:12:28,720 Speaker 1: today bitcoin is about a two trillion dollar US dollar 235 00:12:28,880 --> 00:12:32,240 Speaker 1: market cap. Hundreds of billions of dollars have gone into it, 236 00:12:32,840 --> 00:12:35,840 Speaker 1: and now we're about to see trillions of dollars come 237 00:12:35,880 --> 00:12:38,679 Speaker 1: into it. The size and speed of the mood is 238 00:12:38,760 --> 00:12:42,360 Speaker 1: much bigger. So you haven't missed anything. It's just getting started. Now. 239 00:12:42,440 --> 00:12:45,360 Speaker 1: At this point, we can see this total store of 240 00:12:45,400 --> 00:12:47,199 Speaker 1: ias that you can see bitcoing down here on the 241 00:12:47,240 --> 00:12:50,040 Speaker 1: bottom right, sitting today at about two trillion, and it's 242 00:12:50,080 --> 00:12:53,360 Speaker 1: still just a little blip on the road right here, 243 00:12:54,120 --> 00:12:56,040 Speaker 1: a drop in the bucket. Now, how much bigger is 244 00:12:56,040 --> 00:12:57,719 Speaker 1: it going to get? Well, I got a bunch more 245 00:12:57,800 --> 00:12:59,720 Speaker 1: smart charts to show you she don't worry. But really, 246 00:13:00,120 --> 00:13:03,040 Speaker 1: right now this is the frenzy, This is the institutional phase. 247 00:13:03,080 --> 00:13:05,480 Speaker 1: We can see that right now today about sixty companies 248 00:13:05,760 --> 00:13:08,800 Speaker 1: have already started adopting bitcoin on their balance sheet. And 249 00:13:08,840 --> 00:13:10,960 Speaker 1: this is happening every day we see new announcements of 250 00:13:10,960 --> 00:13:13,960 Speaker 1: this happening. This chart, the big chart here shows the 251 00:13:14,000 --> 00:13:16,840 Speaker 1: real institutional adoption. We have micro Strategy adding about a 252 00:13:16,880 --> 00:13:20,360 Speaker 1: billion dollars a week. I just saw before I went 253 00:13:20,400 --> 00:13:23,439 Speaker 1: on stage. Riot just added about half a billion dollars 254 00:13:23,440 --> 00:13:26,920 Speaker 1: of debt to buy bitcoin. We have our Marathon doing 255 00:13:26,960 --> 00:13:29,720 Speaker 1: a billion dollars. And right now this is showing us 256 00:13:29,720 --> 00:13:33,079 Speaker 1: that about thirteen and a half percent of all bitcoin 257 00:13:33,520 --> 00:13:37,280 Speaker 1: is now being held by institutions. Of course, it is 258 00:13:37,679 --> 00:13:40,880 Speaker 1: bitcoin was always coming for everybody, and this is part 259 00:13:40,920 --> 00:13:43,880 Speaker 1: of the second stage. Now it's not just institutions, it's 260 00:13:43,920 --> 00:13:47,680 Speaker 1: also sovereign adoption. We have sovereign fomo, We have a 261 00:13:47,720 --> 00:13:50,640 Speaker 1: Force El Salvador sort of with this first mover advantage. 262 00:13:50,800 --> 00:13:54,440 Speaker 1: Brazil just introducing bills to build a strategic reserve. Of course, 263 00:13:54,480 --> 00:13:57,360 Speaker 1: the United States has their bitcoin bill going through now. 264 00:13:57,400 --> 00:13:59,559 Speaker 1: Per poly Market, I looked earlier. Today it's about a 265 00:13:59,600 --> 00:14:02,400 Speaker 1: twenty five five percent chance of going through. I think 266 00:14:02,400 --> 00:14:04,200 Speaker 1: that's way too low. I think it's going to be 267 00:14:04,280 --> 00:14:09,240 Speaker 1: much higher now. History shows us what happens when sovereigns 268 00:14:09,280 --> 00:14:14,080 Speaker 1: start competing a small business owner, are you buried in 269 00:14:14,200 --> 00:14:16,640 Speaker 1: all types of work keeping you from the real thing 270 00:14:16,679 --> 00:14:19,440 Speaker 1: that makes you money? Well that's where just Works comes in. 271 00:14:19,480 --> 00:14:22,520 Speaker 1: They're the all in one platform that supports small business growth. 272 00:14:22,720 --> 00:14:25,320 Speaker 1: You can get all their tools that help with benefits 273 00:14:25,360 --> 00:14:29,920 Speaker 1: like payroll and HR and compliance with transparent pricing. Now 274 00:14:30,000 --> 00:14:33,520 Speaker 1: they help you hire top talent internationally, internew markets, quickly 275 00:14:33,800 --> 00:14:37,920 Speaker 1: scale international operations without the workload and forevery how do 276 00:14:38,040 --> 00:14:39,880 Speaker 1: I do it? Question? You can reach out to their 277 00:14:39,920 --> 00:14:43,440 Speaker 1: expert staff from sole proprietor or a team of twenty. 278 00:14:43,800 --> 00:14:47,400 Speaker 1: Just Works empowers all kinds of small businesses with real 279 00:14:47,520 --> 00:14:51,840 Speaker 1: human support. So visit justworks dot com slash podcast to 280 00:14:51,920 --> 00:14:54,880 Speaker 1: join the thousands of small businesses that trust just Works 281 00:14:55,000 --> 00:14:58,440 Speaker 1: to take care of payroll, benefits, compliance and more. Again 282 00:14:58,600 --> 00:15:04,440 Speaker 1: that's Just Works slash podcast. History shows us a lot 283 00:15:04,440 --> 00:15:08,200 Speaker 1: of things. So for example, in the eighteen hundreds, the 284 00:15:08,360 --> 00:15:12,360 Speaker 1: entire world decided to go to a gold standard. Some 285 00:15:12,400 --> 00:15:13,920 Speaker 1: parts of the world, like China, didn't want of the 286 00:15:13,920 --> 00:15:16,280 Speaker 1: gold standard. They had silver. They wanted to stay with silver, 287 00:15:16,680 --> 00:15:18,840 Speaker 1: and they lost their position as a world leader. We 288 00:15:18,880 --> 00:15:23,000 Speaker 1: saw the nineteen fifties the race for space, we saw 289 00:15:23,040 --> 00:15:27,240 Speaker 1: the race for nuclear weapons. When nations start competing, things 290 00:15:27,400 --> 00:15:29,800 Speaker 1: really take off. So we have a precedent for where 291 00:15:29,840 --> 00:15:34,000 Speaker 1: this is going. But why why are the institutions foaming 292 00:15:34,040 --> 00:15:37,560 Speaker 1: in racing into a new asset. Well, because they see 293 00:15:38,320 --> 00:15:41,680 Speaker 1: what we all should see. They see that there is 294 00:15:41,800 --> 00:15:45,560 Speaker 1: no end to the monetary debasement that's coming, and they're 295 00:15:45,600 --> 00:15:49,240 Speaker 1: all looking for a way to protect themselves. What we 296 00:15:49,320 --> 00:15:51,320 Speaker 1: have right here is that we can see the bottom 297 00:15:51,400 --> 00:15:54,240 Speaker 1: right is the US Federal Reserves balance sheet, which has 298 00:15:54,280 --> 00:15:57,720 Speaker 1: been expanding by thirteen percent a year over the last 299 00:15:57,720 --> 00:15:59,840 Speaker 1: four years. We can see the money supply has been 300 00:16:00,200 --> 00:16:02,280 Speaker 1: averaging over eight and a half percent over the last 301 00:16:02,320 --> 00:16:05,160 Speaker 1: four years, and there's no end in sight. How do 302 00:16:05,200 --> 00:16:07,640 Speaker 1: we know there's no in insight? Well, besides the fact 303 00:16:07,640 --> 00:16:09,480 Speaker 1: that they're in a debt based monetary system that always 304 00:16:09,520 --> 00:16:12,680 Speaker 1: has to grow. The government actually tells us that we 305 00:16:12,680 --> 00:16:15,200 Speaker 1: can look at the CBO Congressional Budget Office and we 306 00:16:15,240 --> 00:16:17,560 Speaker 1: can see that they are projecting through twenty fifty four 307 00:16:17,600 --> 00:16:20,600 Speaker 1: the next thirty years for us, and they show us 308 00:16:20,600 --> 00:16:22,800 Speaker 1: that the deficit spending is going to get bigger and 309 00:16:22,840 --> 00:16:25,160 Speaker 1: bigger and bigger. They show us that the debt levels 310 00:16:25,200 --> 00:16:27,600 Speaker 1: are going to go up like a hockey stick. And 311 00:16:27,680 --> 00:16:30,080 Speaker 1: they also show us that population growth on the top 312 00:16:30,160 --> 00:16:33,040 Speaker 1: right is going to plummet as the GDP goes down. 313 00:16:33,080 --> 00:16:36,760 Speaker 1: At the same time population growth going down, GDP going 314 00:16:36,840 --> 00:16:40,680 Speaker 1: down means debt levels go up. Now, they also show 315 00:16:40,720 --> 00:16:43,320 Speaker 1: us the budget through twenty fifty four, thirty years from now, 316 00:16:43,720 --> 00:16:46,440 Speaker 1: and there's no recession in sight. They don't expect any 317 00:16:46,440 --> 00:16:50,280 Speaker 1: dip in the revenue coming in. So where does all 318 00:16:50,360 --> 00:16:55,240 Speaker 1: this come from? Money printing? Now? Of course this is 319 00:16:55,280 --> 00:16:57,240 Speaker 1: what they tell us for the next thirty years. When 320 00:16:57,240 --> 00:17:00,080 Speaker 1: you look at the population decline and the GDP decline, 321 00:17:00,240 --> 00:17:03,760 Speaker 1: I think this is way understated. But for the purpose 322 00:17:03,760 --> 00:17:05,760 Speaker 1: of what we're doing, we're going to use these numbers 323 00:17:05,760 --> 00:17:09,520 Speaker 1: and project it out into the future. So in this 324 00:17:09,560 --> 00:17:12,679 Speaker 1: phase from twenty twenty to twenty thirty, using the numbers 325 00:17:12,720 --> 00:17:14,760 Speaker 1: that we have from the last four to five years, 326 00:17:15,080 --> 00:17:17,840 Speaker 1: we can project out the money supply growth at eight percent, 327 00:17:17,920 --> 00:17:21,120 Speaker 1: continuing bonds going up five percent, real estate and equities, 328 00:17:21,160 --> 00:17:24,480 Speaker 1: which are basically perfect proxies for monetary debasement, going up 329 00:17:24,480 --> 00:17:28,119 Speaker 1: at eight percent. Bitcoin maybe averaging finishing the decade at 330 00:17:28,160 --> 00:17:30,439 Speaker 1: about a fifty three percent. We're at about sixty percent 331 00:17:30,560 --> 00:17:33,680 Speaker 1: right now. That would put bitcoin at a twenty one 332 00:17:33,800 --> 00:17:37,600 Speaker 1: trillion market cap one million dollars per bitcoin in the 333 00:17:37,640 --> 00:17:42,359 Speaker 1: next five years or a ten x from right here. Now, 334 00:17:42,480 --> 00:17:44,399 Speaker 1: this may sound like a big number, but if we 335 00:17:44,440 --> 00:17:48,560 Speaker 1: look at it, bitcoin is only capturing one point five 336 00:17:48,760 --> 00:17:53,160 Speaker 1: percent of total store value asset, is the point. Now, 337 00:17:53,160 --> 00:17:55,680 Speaker 1: if it was able to get five percent, which might 338 00:17:55,760 --> 00:17:58,200 Speaker 1: be way more reasonable, that puts bitcoin at a three 339 00:17:58,359 --> 00:18:02,000 Speaker 1: million dollar price per bitcoin. So I believe one million 340 00:18:02,160 --> 00:18:06,240 Speaker 1: is extremely bearish and not bullish at all. Now, let's 341 00:18:06,280 --> 00:18:08,480 Speaker 1: just keep going. If we look at it as a 342 00:18:08,520 --> 00:18:11,119 Speaker 1: percentage of store value assets, just so you can visually 343 00:18:11,160 --> 00:18:13,000 Speaker 1: see it a little bit better, you can see that 344 00:18:13,040 --> 00:18:16,440 Speaker 1: now bitcoin is about on par with gold. Maybe it's overtaken, 345 00:18:16,480 --> 00:18:19,200 Speaker 1: it's flipped gold by this time. Now. It's one point 346 00:18:19,200 --> 00:18:21,000 Speaker 1: that I want to bring out right here real quickly. 347 00:18:21,200 --> 00:18:22,840 Speaker 1: Is a lot of people think that for bitcoin to 348 00:18:22,880 --> 00:18:26,080 Speaker 1: be worth one million or five million or twenty million. Well, 349 00:18:26,080 --> 00:18:29,400 Speaker 1: the dollar's worthless right at that point, the dollar doesn't 350 00:18:29,440 --> 00:18:33,280 Speaker 1: buy anything. No, that's absolutely not right. You see, bitcoin 351 00:18:33,400 --> 00:18:35,920 Speaker 1: is disrupting other assets. I have a venture fund called 352 00:18:35,920 --> 00:18:39,520 Speaker 1: the Bitcoin Opportunity Fund. As a venture investor, we look 353 00:18:39,520 --> 00:18:42,359 Speaker 1: at a disruptive technology, we look at the size of 354 00:18:42,400 --> 00:18:45,399 Speaker 1: the markets it's disrupting, and then we speculate as to 355 00:18:45,520 --> 00:18:48,480 Speaker 1: what percentage we think we could take from those other markets. 356 00:18:48,760 --> 00:18:51,760 Speaker 1: So bitcoin is taking from bonds, it's taking from real estate, 357 00:18:51,800 --> 00:18:55,040 Speaker 1: it's taking from equities. The dollar doesn't have to die. Sure, 358 00:18:55,119 --> 00:18:58,040 Speaker 1: gas goes from four dollars to eight dollars, it doesn't 359 00:18:58,080 --> 00:19:01,879 Speaker 1: mean it goes to zero. Now is that realistic to 360 00:19:02,000 --> 00:19:05,480 Speaker 1: get one percent? Well, we can look at other disruptive 361 00:19:05,480 --> 00:19:08,440 Speaker 1: technologies like Uber or Airbnb. Both of them were able 362 00:19:08,440 --> 00:19:11,800 Speaker 1: to capture ten percent of their market in less than 363 00:19:11,880 --> 00:19:15,880 Speaker 1: ten years. One and a half percent is extremely conservative. 364 00:19:16,040 --> 00:19:18,760 Speaker 1: All right, Now let's start going into the future. Now 365 00:19:18,760 --> 00:19:21,480 Speaker 1: we're getting into what's called the deployment phase. This is 366 00:19:21,480 --> 00:19:24,600 Speaker 1: twenty thirty to twenty forty. Now, this is where things 367 00:19:24,640 --> 00:19:28,400 Speaker 1: start getting really exciting. But warning, I have to leave 368 00:19:28,440 --> 00:19:31,240 Speaker 1: some historical numbers behind, and I got to start using 369 00:19:31,280 --> 00:19:34,960 Speaker 1: my crystal ball. This is the adoption and the synergy phase. Now, 370 00:19:35,000 --> 00:19:37,480 Speaker 1: this is where things start getting really exciting. We start 371 00:19:37,520 --> 00:19:40,560 Speaker 1: to see adoption. Some interesting things about adoption is a 372 00:19:40,560 --> 00:19:43,480 Speaker 1: lot of bitcoin critics want to tell you that bitcoin's 373 00:19:43,480 --> 00:19:47,520 Speaker 1: already failed. It hasn't achieved any adoption. Why is it 374 00:19:47,600 --> 00:19:49,960 Speaker 1: in a medium of exchange? They tell you, why can't 375 00:19:50,000 --> 00:19:52,760 Speaker 1: I just go to the store anywhere and spend my bitcoin? 376 00:19:52,800 --> 00:19:56,240 Speaker 1: They ask, well, I'll tell you why. Because history gives 377 00:19:56,320 --> 00:19:58,240 Speaker 1: us a framework and tells us that it doesn't come 378 00:19:58,320 --> 00:20:01,720 Speaker 1: until the next phase. Anyone who's expecting that right now 379 00:20:02,000 --> 00:20:07,400 Speaker 1: doesn't understand technological revolutions. They don't understand monetary history. They 380 00:20:07,400 --> 00:20:10,720 Speaker 1: don't understand that there's this evolutionary and emergent process that 381 00:20:10,760 --> 00:20:13,160 Speaker 1: we have to go through. And what they also failed 382 00:20:13,200 --> 00:20:17,200 Speaker 1: to understand is that even though Satoshi called an electronics 383 00:20:17,359 --> 00:20:20,080 Speaker 1: cache system, they say it's failed because it's only a 384 00:20:20,080 --> 00:20:22,520 Speaker 1: store of value. They fail to understand monetary history and 385 00:20:22,560 --> 00:20:27,800 Speaker 1: something specifically called Gresham's law. Gresham's law says that bad 386 00:20:27,920 --> 00:20:32,480 Speaker 1: money drives out good, bad money drives out good. So 387 00:20:32,520 --> 00:20:35,640 Speaker 1: what that means is we're always gonna want to use 388 00:20:35,680 --> 00:20:39,200 Speaker 1: the bad money, not the good money. As long as 389 00:20:39,240 --> 00:20:43,080 Speaker 1: I can use fiat currency to buy my lunch, buy 390 00:20:43,080 --> 00:20:45,520 Speaker 1: my drink at the bar, I'm gonna use the fiat currency, 391 00:20:45,560 --> 00:20:48,080 Speaker 1: and I'm gonna save the good money, which is the bitcoin. 392 00:20:48,400 --> 00:20:50,560 Speaker 1: Why would I spend the good money? Now, we have 393 00:20:50,640 --> 00:20:53,520 Speaker 1: a perfect way to understand this. In the United States, 394 00:20:53,600 --> 00:20:56,520 Speaker 1: of course, we have coins, and we have quarters and dimes. 395 00:20:56,960 --> 00:20:59,639 Speaker 1: Up till nineteen sixty five, these were made out of 396 00:20:59,680 --> 00:21:03,960 Speaker 1: pure silver. Starting in nineteen sixty five they made them 397 00:21:03,960 --> 00:21:07,919 Speaker 1: with junk metal that's nickel and copper. You cannot find 398 00:21:07,920 --> 00:21:12,080 Speaker 1: in America a pre sixty five quarter or diamond circulation. 399 00:21:12,560 --> 00:21:16,080 Speaker 1: They're all gone. They were driven out. If you just 400 00:21:16,160 --> 00:21:18,840 Speaker 1: so happened to get some change and you found a 401 00:21:18,880 --> 00:21:22,159 Speaker 1: pre sixty five quarter in dime, you would not spend it. 402 00:21:22,880 --> 00:21:27,320 Speaker 1: Why because a quarter now is worth four dollars, but 403 00:21:27,359 --> 00:21:31,199 Speaker 1: you'd only get twenty five cents for it. The bad money, 404 00:21:31,720 --> 00:21:34,480 Speaker 1: the worthless quarters and dimes, have driven out the good ones. 405 00:21:34,520 --> 00:21:37,600 Speaker 1: You wouldn't spend those, And so it's a perfect illustration. Now, 406 00:21:38,160 --> 00:21:41,560 Speaker 1: why would we then use bitcoin as a medium exchange. Well, 407 00:21:41,560 --> 00:21:44,560 Speaker 1: we would only use bitcoin as a medium exchange if 408 00:21:44,880 --> 00:21:48,840 Speaker 1: it could do something that the existing money the Fiat 409 00:21:48,880 --> 00:21:51,399 Speaker 1: system could not be used for now. We can use 410 00:21:51,440 --> 00:21:55,440 Speaker 1: this as another example. Gold collectors buy bags of what's 411 00:21:55,440 --> 00:21:58,000 Speaker 1: called junk silver because they believe that at some point 412 00:21:58,040 --> 00:22:00,760 Speaker 1: the Fiat system crashes and they're going to need the 413 00:22:00,800 --> 00:22:04,240 Speaker 1: quarters and dimes in small denominations to barter with. They 414 00:22:04,280 --> 00:22:07,120 Speaker 1: believe in a world where the other money, the field money, 415 00:22:07,160 --> 00:22:10,480 Speaker 1: no longer works and they would need that money, which 416 00:22:10,520 --> 00:22:14,080 Speaker 1: illustrates the point. So then we ask ourselves, well, what 417 00:22:14,119 --> 00:22:17,840 Speaker 1: would we need bitcoin for that? FIA, it would be 418 00:22:17,920 --> 00:22:20,080 Speaker 1: no good for certainly not to buy the drink at 419 00:22:20,119 --> 00:22:22,720 Speaker 1: the bar, ork's fine for that, my plane ticket, make 420 00:22:22,760 --> 00:22:25,000 Speaker 1: my house payment. So what kinds of things? Well, we 421 00:22:25,000 --> 00:22:28,720 Speaker 1: look at the unique utility abilities of what bitcoin can do. 422 00:22:29,640 --> 00:22:33,000 Speaker 1: It's fast and cheap, it's borderless, it's permissionless, it's censorship resistant, 423 00:22:33,000 --> 00:22:36,320 Speaker 1: it's immutable. So if we need to do those types 424 00:22:36,359 --> 00:22:40,240 Speaker 1: of things, then we might want to use bitcoin. Well, certainly, 425 00:22:40,280 --> 00:22:43,440 Speaker 1: I guess in authoritarian regimes, maybe North Korea, Afghanistan, where 426 00:22:43,440 --> 00:22:46,159 Speaker 1: they censor transactions, maybe we could do it there. But 427 00:22:46,640 --> 00:22:49,440 Speaker 1: where I think the real use case comes, and it's 428 00:22:49,480 --> 00:22:52,960 Speaker 1: coming really fast, and we're talking about right now, is 429 00:22:53,000 --> 00:22:56,320 Speaker 1: the ability to do micro transactions that are both fast 430 00:22:56,520 --> 00:22:59,920 Speaker 1: and cheap. Now what type of micro transactions being done 431 00:23:00,119 --> 00:23:03,160 Speaker 1: fast a cheap, in a borderless way, in a permissionless 432 00:23:03,160 --> 00:23:06,080 Speaker 1: way would be looking at? Well, anybody had heard of 433 00:23:06,119 --> 00:23:11,080 Speaker 1: the rise of AI, more specifically AI agents. Now AI 434 00:23:11,200 --> 00:23:14,879 Speaker 1: agents are the ability to build an AI bought to 435 00:23:15,000 --> 00:23:19,760 Speaker 1: be autonomous and go do task transactions and maybe even 436 00:23:19,800 --> 00:23:24,520 Speaker 1: build entire businesses by hiring other agents autonomously. Now, these 437 00:23:24,520 --> 00:23:27,760 Speaker 1: AI agents are growing rapidly. Within the next couple of years, 438 00:23:27,760 --> 00:23:29,640 Speaker 1: they will be completely taken over. As a matter of fact, 439 00:23:29,720 --> 00:23:32,439 Speaker 1: we can see that by twenty forty they're expected to 440 00:23:32,440 --> 00:23:35,919 Speaker 1: grow by over forty percent compounded annual growth rate. And 441 00:23:36,040 --> 00:23:39,160 Speaker 1: these AI agents can't have a bank account because they're 442 00:23:39,200 --> 00:23:42,120 Speaker 1: not a person. They can't pass KYC, but they can 443 00:23:42,160 --> 00:23:45,680 Speaker 1: have a Bitcoin wallet. These AI agents can hire other 444 00:23:45,880 --> 00:23:49,359 Speaker 1: AI agents and pay them micro transactions. Why micro How 445 00:23:49,440 --> 00:23:51,520 Speaker 1: much does it cost to hire an A agent? The 446 00:23:51,600 --> 00:23:54,639 Speaker 1: cost of power and compute? How many times will they 447 00:23:54,640 --> 00:23:57,680 Speaker 1: need to transact hundreds, maybe thousands of times a day? 448 00:23:59,119 --> 00:24:01,919 Speaker 1: And Fiat current you won't work for this. And this 449 00:24:02,000 --> 00:24:04,240 Speaker 1: is all coming really fast, And I'm talking in the 450 00:24:04,280 --> 00:24:08,160 Speaker 1: next couple of years. This is where bitcoin becomes indispensable. 451 00:24:08,520 --> 00:24:12,040 Speaker 1: It enables a new era of autonomous collaboration. Now this 452 00:24:12,080 --> 00:24:14,040 Speaker 1: isn't just me saying it. If you haven't been paying attention, 453 00:24:14,080 --> 00:24:17,280 Speaker 1: it's all over. But Elon Musk says that by twenty thirty, 454 00:24:17,760 --> 00:24:21,399 Speaker 1: robots and autonomous systems will dominate. The twenty thirties, he 455 00:24:21,480 --> 00:24:24,480 Speaker 1: says that they're going to overtake humans be able to 456 00:24:24,520 --> 00:24:27,920 Speaker 1: buy these things for twenty thousand dollars. Everyone's going to 457 00:24:28,000 --> 00:24:33,000 Speaker 1: have them, Autonomous taxis, autonomous robots, and they'll all be 458 00:24:33,200 --> 00:24:36,480 Speaker 1: running off of Bitcoin will be their economic backbone where 459 00:24:36,520 --> 00:24:40,919 Speaker 1: Fiat fells, micro transactions, high fees, the need for permission, 460 00:24:41,560 --> 00:24:45,680 Speaker 1: that's where Bitcoin will thrive. Just like electricity transformed cities, 461 00:24:45,920 --> 00:24:49,040 Speaker 1: Bitcoin and AI together are going to power the next 462 00:24:49,200 --> 00:24:53,080 Speaker 1: great economic revolution. Now, in this phase from twenty thirty 463 00:24:53,119 --> 00:24:55,560 Speaker 1: to twenty forty, where we get the deployment, Bitcoin goes 464 00:24:55,600 --> 00:24:58,000 Speaker 1: from a twenty one trillion market cap to almost a 465 00:24:58,160 --> 00:25:01,639 Speaker 1: three hundred trillion bion dollar market cap. Now we're not 466 00:25:01,680 --> 00:25:04,399 Speaker 1: talking about four thousand percent compounded onto a growth or 467 00:25:04,600 --> 00:25:06,480 Speaker 1: ar like we saw in the past. We're talking more 468 00:25:06,480 --> 00:25:10,760 Speaker 1: of a modest thirty percent If real estate and equities 469 00:25:10,760 --> 00:25:13,520 Speaker 1: are still going up by eight. If the money supply 470 00:25:13,600 --> 00:25:16,119 Speaker 1: is expanding more than that, bitcoin is going to be 471 00:25:16,160 --> 00:25:20,240 Speaker 1: at least doing thirty percent, which takes it from twenty 472 00:25:20,240 --> 00:25:22,320 Speaker 1: one trillion to three hundred trillion, or puts it at 473 00:25:22,320 --> 00:25:26,880 Speaker 1: about a fourteen million dollars price per bitcoin. Now, by 474 00:25:26,920 --> 00:25:29,280 Speaker 1: then bitcoin would be worth is that fourteen million is 475 00:25:29,320 --> 00:25:33,200 Speaker 1: going to dominate the global store of asset st value stage. 476 00:25:33,280 --> 00:25:34,880 Speaker 1: And if we look at this visually, we can see 477 00:25:34,880 --> 00:25:37,840 Speaker 1: that it's now taking over collectibles in gold, and it's 478 00:25:37,920 --> 00:25:41,120 Speaker 1: now catching up to the money supply. Still a little 479 00:25:41,160 --> 00:25:43,800 Speaker 1: bit behind equities, but it's catching on quick. Do you 480 00:25:43,840 --> 00:25:46,760 Speaker 1: guys want to see? We're at twenty fifty? All right? 481 00:25:47,280 --> 00:25:49,480 Speaker 1: All right, here we are phase four. Now, this is 482 00:25:49,520 --> 00:25:52,159 Speaker 1: the maturity phase. This is covering again twenty forty to 483 00:25:52,160 --> 00:25:55,439 Speaker 1: twenty fifty, and this is where bitcoin evolves beyond just 484 00:25:55,480 --> 00:25:59,600 Speaker 1: a financial asset. This is where it becomes something even bigger. 485 00:26:00,080 --> 00:26:01,600 Speaker 1: So let me go back to my crystal ball one 486 00:26:01,640 --> 00:26:04,919 Speaker 1: more time. See what we got. Okay, So we're in 487 00:26:04,960 --> 00:26:07,920 Speaker 1: the maturity phase. And the maturity phase is where bitcoin 488 00:26:08,000 --> 00:26:11,760 Speaker 1: finally becomes a unit of account. This is where as 489 00:26:11,760 --> 00:26:16,280 Speaker 1: we've seen throughout history. Using this repeatable framework, we've evolved 490 00:26:16,320 --> 00:26:19,240 Speaker 1: to the final stage of a unit of account. Now 491 00:26:19,520 --> 00:26:23,600 Speaker 1: this maps over perfectly. By this phase, Bitcoin achieves this 492 00:26:23,720 --> 00:26:26,240 Speaker 1: role as this global unit of account, and we start 493 00:26:26,280 --> 00:26:28,960 Speaker 1: to see things that we haven't seen before. So, for example, 494 00:26:29,000 --> 00:26:32,800 Speaker 1: in this maturity phase, we start to realize that life's 495 00:26:32,840 --> 00:26:37,200 Speaker 1: getting easier. Life's not getting more expensive, Life's getting easier, 496 00:26:37,280 --> 00:26:39,679 Speaker 1: Life's getting cheaper. I have to work less to achieve 497 00:26:39,720 --> 00:26:42,600 Speaker 1: the same lifestyle I had before. So for example, in 498 00:26:42,640 --> 00:26:46,359 Speaker 1: twenty sixteen, homes cost on average United States two hundred 499 00:26:46,359 --> 00:26:48,960 Speaker 1: and eighty eight thousand dollars or six hundred and sixty 500 00:26:49,040 --> 00:26:52,479 Speaker 1: four bitcoin. Today, the median home has gone from two 501 00:26:52,560 --> 00:26:55,399 Speaker 1: eighty eight to four hundred and thirty four thousand, but 502 00:26:55,480 --> 00:27:00,000 Speaker 1: it's only four bitcoin. Life is getting easier Bitcoin flip 503 00:27:00,160 --> 00:27:02,159 Speaker 1: to script on that. But it's not just homes. We 504 00:27:02,200 --> 00:27:05,240 Speaker 1: can see all financial assets, oil, gold, the S and 505 00:27:05,280 --> 00:27:07,200 Speaker 1: P five hundred in the last five years have dropped 506 00:27:07,200 --> 00:27:10,920 Speaker 1: almost ninety percent when priced in bitcoin terms. And it's 507 00:27:10,920 --> 00:27:14,880 Speaker 1: not just financial assets, agriculture, eggs, cheese, beef, wheat, lumber, 508 00:27:15,040 --> 00:27:19,200 Speaker 1: everything that we need to live dropping by ninety percent 509 00:27:20,080 --> 00:27:23,320 Speaker 1: priced in bitcoin. This is what a bitcoin denominated world 510 00:27:23,359 --> 00:27:26,080 Speaker 1: looks like. It's not just about cheaper goods. It's about 511 00:27:26,160 --> 00:27:29,280 Speaker 1: a world where life gets easier for us. It's about 512 00:27:29,320 --> 00:27:32,280 Speaker 1: where your money works for you. Now, imagine a world 513 00:27:32,320 --> 00:27:35,359 Speaker 1: where your money gets stronger every year. Imagine a world 514 00:27:35,359 --> 00:27:37,680 Speaker 1: where your money buys you more goods and services in 515 00:27:37,720 --> 00:27:40,960 Speaker 1: the future instead of less. A world where actually we're 516 00:27:40,960 --> 00:27:45,600 Speaker 1: seeing innovation thrive and again life getting easier and not harder. 517 00:27:45,720 --> 00:27:48,800 Speaker 1: Now under this bitcoin standard, we can actually start to 518 00:27:48,840 --> 00:27:54,240 Speaker 1: see the reality of AI and robotics and energy all 519 00:27:54,320 --> 00:27:58,560 Speaker 1: working together to reduce the costs and expand access, creating 520 00:27:58,760 --> 00:28:02,399 Speaker 1: massive amounts abundance. Now, this isn't a bitcoin denominated world. 521 00:28:02,520 --> 00:28:05,959 Speaker 1: As Jeff Booth laid out earlier, This cannot happen in 522 00:28:06,000 --> 00:28:10,800 Speaker 1: a fiat world. The systems are incompatible. The only way 523 00:28:10,920 --> 00:28:13,440 Speaker 1: we achieve this is with bitcoin, and of course everybody 524 00:28:13,720 --> 00:28:17,160 Speaker 1: wants this now in this phase, the maturity phase, I'm 525 00:28:17,200 --> 00:28:21,399 Speaker 1: predicting again using what the Congressional Budget's Office has shown 526 00:28:21,480 --> 00:28:25,040 Speaker 1: us through twenty fifty four, that the money printing continues. 527 00:28:25,320 --> 00:28:27,760 Speaker 1: Global store of assets have gone from three point five 528 00:28:28,200 --> 00:28:33,560 Speaker 1: quadrillion dollars to eight point five quadrillion dollars, which sounds 529 00:28:33,600 --> 00:28:36,639 Speaker 1: absolutely crazy, but again, my parents bought a home for 530 00:28:36,640 --> 00:28:39,880 Speaker 1: forty thousand dollars. I mean, that's how crazy this world is. Now. 531 00:28:40,080 --> 00:28:42,560 Speaker 1: Money is still there, bonds are still there, real estate, 532 00:28:42,600 --> 00:28:45,240 Speaker 1: equities collectible as gold, all of those things are there. 533 00:28:45,840 --> 00:28:49,200 Speaker 1: Bitcoin has now slowed down to about a twenty percent ARR. 534 00:28:49,520 --> 00:28:52,000 Speaker 1: We're not talking crazy numbers. We're not talking to four 535 00:28:52,040 --> 00:28:55,080 Speaker 1: thousand percent ARR. And bitcoin has gone from a two 536 00:28:55,120 --> 00:28:57,120 Speaker 1: hundred and eighty nine trillion to now at one point 537 00:28:57,160 --> 00:29:01,240 Speaker 1: eight quadrillion dollar asset class. Divided that by the twenty 538 00:29:01,280 --> 00:29:05,320 Speaker 1: one million and we are talking eighty five million dollars 539 00:29:05,360 --> 00:29:09,360 Speaker 1: per bitcoin. And again, this doesn't mean the dollars worthless. 540 00:29:09,520 --> 00:29:12,719 Speaker 1: This doesn't mean that dollars are no longer here. This 541 00:29:12,880 --> 00:29:16,560 Speaker 1: just means that bitcoin has captured value from all the 542 00:29:16,600 --> 00:29:20,280 Speaker 1: other asset classes. Bitcoin is now the second largest asset 543 00:29:20,360 --> 00:29:23,960 Speaker 1: in the world, behind real estate. And yes, it's pulled 544 00:29:24,000 --> 00:29:26,480 Speaker 1: a lot of value from real estate, but we still 545 00:29:26,640 --> 00:29:29,280 Speaker 1: you know, turns out need places to live, still need 546 00:29:29,280 --> 00:29:32,239 Speaker 1: to warehouses for our stuff, buildings to meet in. Turns out, 547 00:29:32,280 --> 00:29:34,560 Speaker 1: we still need real estate. But it has pulled value 548 00:29:34,800 --> 00:29:37,320 Speaker 1: from real estate as well as every other asset that's 549 00:29:37,360 --> 00:29:41,840 Speaker 1: out there. It's become the denominator. And at this point, 550 00:29:42,400 --> 00:29:45,840 Speaker 1: the world has decided that we should no longer use 551 00:29:45,920 --> 00:29:50,240 Speaker 1: the denominator of fiat currency. And at this point bitcoin 552 00:29:50,280 --> 00:29:54,160 Speaker 1: has reached its full and final stage, which is stage five, 553 00:29:54,360 --> 00:29:57,959 Speaker 1: and has become the global unit of account. At this point, 554 00:29:58,080 --> 00:30:00,320 Speaker 1: you no longer measure your wealth in fiat as you're 555 00:30:00,320 --> 00:30:04,360 Speaker 1: your wealth in bitcoin, and at this point, one bitcoin 556 00:30:04,800 --> 00:30:12,440 Speaker 1: equals one bitcoin. Now at that point, this is going 557 00:30:12,520 --> 00:30:15,080 Speaker 1: to sound crazy, but hopefully I've built this foundation for you. 558 00:30:15,440 --> 00:30:18,600 Speaker 1: At that point, we're talking eight and a half trillion 559 00:30:18,720 --> 00:30:23,480 Speaker 1: dollars of global store value assets just using the FEDS 560 00:30:23,640 --> 00:30:26,960 Speaker 1: CBO or the CBO's projections of money printing, and a 561 00:30:27,080 --> 00:30:30,320 Speaker 1: basic historical growth rate eight and a half eight point 562 00:30:30,320 --> 00:30:33,800 Speaker 1: five quadrillion dollars. If any of you are good at math, 563 00:30:33,840 --> 00:30:36,280 Speaker 1: divide that by twenty one million, and that puts bitcoin 564 00:30:36,320 --> 00:30:41,280 Speaker 1: to about four hundred million dollars per bitcoin. And again, 565 00:30:41,880 --> 00:30:45,280 Speaker 1: this is not speculation, This isn't a dream. This is 566 00:30:45,640 --> 00:30:50,840 Speaker 1: the sixth time we've seen this exact pattern playout over 567 00:30:50,880 --> 00:30:56,080 Speaker 1: the last three hundred years, in an exact repeating process 568 00:30:56,400 --> 00:30:59,640 Speaker 1: over the fifty years, just like the indellistrual revolution, steam engines, 569 00:30:59,640 --> 00:31:03,240 Speaker 1: the rails still electricity, automobile, oil, telecom, and now the 570 00:31:03,320 --> 00:31:06,960 Speaker 1: decentralized revolution. We see it repeating the same time. I'll 571 00:31:06,960 --> 00:31:08,760 Speaker 1: put the slides up here. Their open source, you can 572 00:31:08,800 --> 00:31:10,880 Speaker 1: download them. But I want to just leave you with 573 00:31:10,960 --> 00:31:16,040 Speaker 1: one thing. This is not just a new technology. This 574 00:31:16,160 --> 00:31:20,080 Speaker 1: is a revolution. And you know that because you're here. 575 00:31:20,960 --> 00:31:25,640 Speaker 1: So the question becomes simple, are you going to take 576 00:31:25,680 --> 00:31:29,480 Speaker 1: advantage and help lead this revolution or are you're just 577 00:31:29,520 --> 00:31:32,200 Speaker 1: going to watch it pass by? The choice is yours.