WEBVTT - The Bitcoin Blueprint: Why $1M Is Bearish (300-Year Pattern Revealed) 0:00:00.080 --> 0:00:03.440 Is bitcoin really going to a million or ten million? Well, actually, 0:00:03.480 --> 0:00:06.080 I'm going to tell you why. I think that's actually bearished. Now, 0:00:06.080 --> 0:00:09.039 this isn't some hypothetical. I'm going to show you how 0:00:09.080 --> 0:00:11.799 five times over the last three hundred years, this exact 0:00:11.840 --> 0:00:14.880 process has played out. I'm here in Bitcoin Mina. This 0:00:14.920 --> 0:00:17.560 is the capital of capitol. I'm talking about Abu Dhabi. 0:00:17.640 --> 0:00:19.600 I'm about to go on this stage. I'm gonna show 0:00:19.600 --> 0:00:22.080 you exactly where we're at right now and the blueprint 0:00:22.200 --> 0:00:24.479 of how we progress through twenty thirty, twenty forty, and 0:00:24.680 --> 0:00:27.440 ultimately twenty fifty. If you want to know exactly where 0:00:27.480 --> 0:00:29.960 we're at and how to navigate this, stick with me 0:00:30.000 --> 0:00:31.320 as we go up on stage and break it down. 0:00:31.480 --> 0:00:34.559 Bitcoin was always coming for everybody. This is not just 0:00:34.600 --> 0:00:38.000 a new technology. This is a revolution. There is no 0:00:38.360 --> 0:00:41.279 end to the monetary debasement that's coming that would put 0:00:41.280 --> 0:00:44.640 bitcoin at a twenty one trillion market gap one million 0:00:44.680 --> 0:00:48.360 dollars per bitcoin. At that point, the dollar doesn't buy anything. No, 0:00:48.520 --> 0:00:51.280 that's absolutely not right. And this is where bitcoin evolves 0:00:51.320 --> 0:00:54.320 beyond just a financial asset. You no longer measure your 0:00:54.320 --> 0:00:57.480 wealth in fiat. You measure your wealth in bitcoin, and 0:00:57.560 --> 0:01:00.800 at this point it's bitcoin to about four hundred million 0:01:00.920 --> 0:01:04.200 dollars per bitcoin. Are you going to take advantage and 0:01:04.240 --> 0:01:06.760 help lead this revolution or a you're just going to 0:01:06.800 --> 0:01:13.360 watch it pass by? Please join me and welcoming. All 0:01:13.480 --> 0:01:16.520 right now, in order to understand where we're going, let's 0:01:16.520 --> 0:01:18.880 just jump and look into the future for us. Can 0:01:18.920 --> 0:01:22.399 Let's imagine that we're in the year twenty fifty. Bitcoin 0:01:22.560 --> 0:01:26.120 isn't priced in dollars, euros, in or duran anymore, because 0:01:26.480 --> 0:01:28.960 at this point these currencies don't matter. Global trade is 0:01:29.000 --> 0:01:32.800 now happening in Satoshi's Sovereign nations are now settling in bitcoin, 0:01:32.959 --> 0:01:35.640 and your wealth is denominating in bitcoin. At this time, 0:01:36.200 --> 0:01:39.560 one bitcoin equals one bitcoin and the world has changed. 0:01:39.720 --> 0:01:43.280 This isn't some wild fantasy, This isn't some speculation. What 0:01:43.280 --> 0:01:45.120 I'm going to break down for you right now is 0:01:45.160 --> 0:01:48.680 I'm going to show you how this same historical pattern 0:01:48.960 --> 0:01:52.200 has happened five times over the last three hundred years, 0:01:52.520 --> 0:01:55.960 and it's a repeatable pattern, a predictable pattern that gives 0:01:56.040 --> 0:01:58.480 us a blueprint to follow along what I call a 0:01:58.640 --> 0:02:02.080 quantum leap. Now, this is a point when technology changes 0:02:02.120 --> 0:02:03.680 the rules of the game It changes the way that 0:02:03.680 --> 0:02:06.480 we work, interact, and live in the world, and the 0:02:06.560 --> 0:02:10.040 rules change, the balance of power is shifted forever, and 0:02:10.080 --> 0:02:12.040 the way that we view the world we interact in 0:02:12.080 --> 0:02:14.480 the world has changed. Now, as I said, this happens 0:02:14.480 --> 0:02:17.799 on a fifty year time frame, since we had the 0:02:18.080 --> 0:02:21.080 birth of the Industrial revolution in the mid seventeen hundreds. 0:02:21.520 --> 0:02:24.960 Each one of these represents a time when the entire 0:02:25.080 --> 0:02:29.960 world completely changes, what I'm calling a quantum shift. We 0:02:30.000 --> 0:02:32.639 had the Industrial Revolution. About fifty years later, we had 0:02:32.639 --> 0:02:35.760 steam engines and railways. About fifty years later, we had 0:02:35.840 --> 0:02:39.880 steel heavy equipment. We had electricity. About fifty years later, 0:02:39.919 --> 0:02:45.079 we had automobiles, oil, oil fuels, mass production. About fifty 0:02:45.120 --> 0:02:47.320 years later, we had the birth of the microprocess, of 0:02:47.320 --> 0:02:50.960 which brought birth to the telecom, the personal computer, and 0:02:51.000 --> 0:02:53.320 the Internet. Now, one thing to keep in mind with 0:02:53.400 --> 0:02:56.320 this is that this is not about one new technology. 0:02:57.040 --> 0:03:00.239 This is about a cluster of technologies that come together 0:03:00.680 --> 0:03:03.160 to give us a new set of building blocks to 0:03:03.240 --> 0:03:06.480 build things that we can't even imagine today. Humans are 0:03:06.520 --> 0:03:08.200 no good to imagine in the future because all we 0:03:08.240 --> 0:03:10.920 can do is imagine a better version of what we 0:03:11.000 --> 0:03:14.440 have now. We're going into what I'm calling the sixth Revolution. 0:03:14.520 --> 0:03:17.080 This is the sixth time we've seen this cycle repeat 0:03:17.320 --> 0:03:21.280 and what I'm calling the decentralized revolution. Now, it's not 0:03:21.400 --> 0:03:24.959 just that the world completely changes from the technology, which 0:03:24.960 --> 0:03:28.800 of course it does, but it drives all financial markets. 0:03:29.120 --> 0:03:31.760 The only place to invest for the last fifty years 0:03:31.760 --> 0:03:35.560 has been the Internet and personal computers and telecommon. Before that, 0:03:35.800 --> 0:03:37.880 it was Ford and GM and GM. Before that, it 0:03:37.920 --> 0:03:40.560 was oil and it was steel. Each one of these 0:03:41.080 --> 0:03:45.119 cycles represents a new set of generational wealth, and each 0:03:45.160 --> 0:03:46.840 one of us right now are sitting at this point 0:03:46.840 --> 0:03:50.160 where we have the ability to create generational wealth as 0:03:50.240 --> 0:03:54.520 this cycle unfolds. Now, as I said this, each one 0:03:54.560 --> 0:03:57.320 of these cycles that's happened five times now we're on 0:03:57.360 --> 0:04:00.720 the six has a repeatable process and broken down into 0:04:00.840 --> 0:04:04.760 four stages. Now, the first stage is what we call 0:04:04.840 --> 0:04:07.640 the eruption phase. Now we have the Big Bang, which 0:04:07.680 --> 0:04:10.480 is where the new invention came and there's a lot 0:04:10.480 --> 0:04:12.240 of excitement about it, and there's some people who like 0:04:12.280 --> 0:04:14.920 to tinker, the nerds maybe they like to play with it, 0:04:14.960 --> 0:04:17.839 and we have this eruption that happens in this Big Bang. Now, 0:04:17.960 --> 0:04:21.400 it's worth noting that this is because the previous fifty 0:04:21.480 --> 0:04:24.359 year cycle is starting to die out and we have 0:04:24.440 --> 0:04:26.440 a new bang, the big bang that takes off. Now 0:04:26.440 --> 0:04:29.919 this is the eruption or the emergence of this fifty 0:04:30.000 --> 0:04:32.440 year cycle. The second phase. I've went ahead and put 0:04:32.440 --> 0:04:34.400 a green line here shows sort of where I believe 0:04:34.440 --> 0:04:37.560 we are right now, which is the frenzy phase. Now 0:04:37.600 --> 0:04:40.599 this is about speculation in this phase. This is the 0:04:40.680 --> 0:04:44.160 emergence of this cycle. Then we go to phase three, 0:04:44.560 --> 0:04:47.240 which is the synergy phase. This is wherely where we 0:04:47.279 --> 0:04:51.880 start to see integration of these new technologies into society. 0:04:52.200 --> 0:04:55.040 And then finally we have the fourth phase, which is maturity. 0:04:55.360 --> 0:04:59.039 This is where the global standardization happens and the next 0:04:59.120 --> 0:05:02.120 great surge begins. So now you have sort of like 0:05:02.160 --> 0:05:04.360 a little bit of a framework of what I'm talking about. 0:05:04.520 --> 0:05:06.720 And the old system that we have dying are these 0:05:06.760 --> 0:05:10.120 centralized systems. And so the last cycle, which we talked 0:05:10.120 --> 0:05:13.279 about telecom, personal computers, Internet has started to die. The 0:05:13.320 --> 0:05:16.400 Internet has lots of problems, lots of centralization, and so 0:05:16.480 --> 0:05:19.400 now we have a decentralized wave that's starting to take off, 0:05:19.640 --> 0:05:22.159 giving us a new set of protocols for money, for 0:05:22.240 --> 0:05:25.200 communication and other things like that. And this is why 0:05:25.200 --> 0:05:29.920 I'm calling it the decentralized Revolution. Now, each of these 0:05:29.920 --> 0:05:32.640 four phases, as I said, are very predictable, and we 0:05:32.680 --> 0:05:36.320 can map out this decentralized revolution, and we can overlay 0:05:36.400 --> 0:05:40.560 bitcoin perfectly to this. So it gives us a perfect example, 0:05:40.800 --> 0:05:43.880 and we'll break down exactly where we'll be in twenty fifty. 0:05:43.920 --> 0:05:46.080 As I framed in the beginning, this is not some 0:05:46.279 --> 0:05:49.720 hypothetical fantasy that, of course we're all dreaming and believing in. 0:05:50.520 --> 0:05:53.400 But instead history shows us this is what the reality 0:05:53.440 --> 0:05:55.880 will be. All right. Now, what's one more thing I 0:05:55.880 --> 0:05:59.960 want to overlay is it also overlays perfectly with money. 0:06:00.279 --> 0:06:03.120 If you go back through thousands of years of monetary history, 0:06:03.360 --> 0:06:06.560 you'll understand that money, as we know it is both 0:06:06.640 --> 0:06:11.120 evolutionary and emergent, So it goes through four phases. Anybody 0:06:11.160 --> 0:06:14.520 read Safety's book The Bitcoin Standard, you might understand some 0:06:14.640 --> 0:06:17.080 of this. So we've had lots of forms of money 0:06:17.080 --> 0:06:20.680 from feathers, rocks, and seashells, and eventually gold emerged and 0:06:20.720 --> 0:06:22.880 it goes from a collectible phase. Oh look at this 0:06:22.960 --> 0:06:25.320 cool rock, Look at this cool feather, this cool seashell 0:06:25.400 --> 0:06:29.120 let's collect it. Now some things, obviously not all of them. 0:06:29.440 --> 0:06:33.960 Some collectibles could emerge, could evolve to the next stage, 0:06:33.960 --> 0:06:36.800 which becomes of store of value. Now, in this store 0:06:36.800 --> 0:06:39.680 of value phase, we see this today, lots of wealthy 0:06:39.760 --> 0:06:45.520 people store their value in collectibles, fine art, old cars, paintings, 0:06:46.520 --> 0:06:50.400 Pokemon cards, baseball cards, whatever that may be. Now, if 0:06:50.800 --> 0:06:53.680 some of these store value assets have the right qualities 0:06:53.720 --> 0:06:57.279 most of them don't to be money, then it could 0:06:57.320 --> 0:07:00.280 potentially emerged evolve to the final the next day of 0:07:00.320 --> 0:07:04.640 medium exchange. Now it has to be portable, divisible, durable, recognizable, 0:07:04.960 --> 0:07:07.560 et cetera. A mona Lisa could not make a medium 0:07:07.560 --> 0:07:10.240 exchange because of course you can't divide it. A cow 0:07:10.360 --> 0:07:13.120 could be divided, but it's not fungible parts for parts. 0:07:13.360 --> 0:07:15.320 So if we have the right attributes, we can go 0:07:15.320 --> 0:07:18.200 to the medium xchange and then ultimately, if we've met 0:07:18.280 --> 0:07:20.600 all of these levels, we could go to the unit 0:07:20.640 --> 0:07:24.800 of account. So this overlays perfectly with technology. So we're 0:07:24.840 --> 0:07:27.440 witnessing all of this at one time. So let's just 0:07:27.480 --> 0:07:29.600 break down. Let's jump into the pass real quick. Let's 0:07:29.640 --> 0:07:32.320 just recap where rap phase one, which is eruption. This 0:07:32.360 --> 0:07:34.480 is from twenty ten to twenty twenty. We're going to 0:07:34.560 --> 0:07:37.560 go pretty quick through this. So in this phase again, 0:07:37.600 --> 0:07:41.080 this really is represented by retail adoption. Right in this 0:07:41.160 --> 0:07:44.800 first phase, it's defined by the same challenges though as 0:07:44.960 --> 0:07:49.000 every other one of these revolutions in history, which is 0:07:49.040 --> 0:07:54.480 the technology is limited by scalability. Right when automobiles were introduced, 0:07:54.480 --> 0:07:57.760 for example, within three years, there's two hundred and fifty manufacturers, 0:07:57.920 --> 0:08:01.120 but they couldn't scale. There was no roads, gas stations, 0:08:01.120 --> 0:08:04.000 no tires. The Internet was out for over twenty years. 0:08:04.000 --> 0:08:06.280 By the year two thousand, after the dot com boom, 0:08:06.360 --> 0:08:08.960 less than ten percent of people had bought anything online 0:08:09.040 --> 0:08:11.920 because the Internet was too slow and it couldn't scale. 0:08:12.280 --> 0:08:14.280 The same thing we saw with bitcoin. It was hampered 0:08:14.320 --> 0:08:17.640 with scaling solutions, which is exactly what's supposed to happen 0:08:17.720 --> 0:08:21.360 in the first phase, which led to other things like 0:08:21.440 --> 0:08:24.000 alt coins. But we'll get back to that in a second. Now, 0:08:24.040 --> 0:08:27.600 this overlaps perfectly with money. So in this first phase 0:08:27.640 --> 0:08:30.400 ten twenty ten to twenty twenty, bitcoin is in this 0:08:30.560 --> 0:08:34.199 collectible phase. Now we can see some illustrations of this. 0:08:34.520 --> 0:08:38.720 We had a famous Laslo spending ten thousand bitcoin on 0:08:38.800 --> 0:08:43.240 a pizza back in twenty ten. So this bitcoin, this collectible, 0:08:43.520 --> 0:08:45.000 what is it? Let's see what we can do with it? 0:08:45.040 --> 0:08:47.520 Would anybody trade me one collectible for another? How about 0:08:47.520 --> 0:08:50.880 some pizzas it was a groundbreaking experiment. Of course it 0:08:50.920 --> 0:08:53.160 was a very expensive pizza looking back at it. But 0:08:53.200 --> 0:08:56.719 remember each one of these cycles is held back by scaling, 0:08:57.080 --> 0:08:59.760 and so in this scaling, then we had this experimentation, 0:09:00.120 --> 0:09:02.400 this alt coin boom. Well, let's make ones that are 0:09:02.400 --> 0:09:05.400 faster and cheaper and more private. But this is one 0:09:05.760 --> 0:09:09.480 piece that's always their present. It was a necessary step. 0:09:09.840 --> 0:09:13.880 Now I believe that this collectible phase really headed up 0:09:13.920 --> 0:09:16.959 in twenty twenty, and we can see where this really 0:09:17.000 --> 0:09:21.600 took a blowoff top with NFTs, the ultimate collectible. The 0:09:21.679 --> 0:09:25.440 NFT market exploded in twenty twenty, growing three hundred percent 0:09:26.000 --> 0:09:30.439 over two hundred and fifty million dollars in transactions. Ninety 0:09:30.480 --> 0:09:32.439 seven percent of walls were using them, but by twenty 0:09:32.480 --> 0:09:36.040 twenty one it got to forty one billion. As you 0:09:36.080 --> 0:09:39.280 can see, by twenty twenty two it completely fell off. 0:09:39.320 --> 0:09:43.200 A clip trading volume dropped ninety seven percent, and today 0:09:43.760 --> 0:09:48.160 reports are that ninety nine percent of NFT projects are dead. 0:09:48.440 --> 0:09:51.640 So the collectible phase was a necessary step, but it's 0:09:51.679 --> 0:09:54.160 not the future. Now we can see that going into 0:09:54.160 --> 0:09:56.319 phase two, which is then the store of value phase. 0:09:56.360 --> 0:10:00.200 The seeds were already planted early on. We saw really 0:10:00.240 --> 0:10:03.800 back in twenty thirteen, venture capital fund Addison Horowitz already 0:10:03.840 --> 0:10:07.720 started to invest into bitcoin startups, trying to help build 0:10:07.760 --> 0:10:11.679 that next stage we saw twenty seventeen, CBE and CME 0:10:11.800 --> 0:10:14.160 started doing futures. That was really the first time we 0:10:14.200 --> 0:10:18.280 started seeing institutional adoption coming in for the store value. 0:10:18.360 --> 0:10:21.800 Twenty eighteen, fight Deli started planting the seeds to get 0:10:22.800 --> 0:10:26.080 other institutions in as well, and so that's where it phased. 0:10:26.080 --> 0:10:27.960 Now looking at some of the prices, we can see 0:10:27.960 --> 0:10:31.079 in twenty ten, these on the left are store of 0:10:31.200 --> 0:10:34.040 value assets. So these are assets that we store a 0:10:34.120 --> 0:10:37.640 wealth in. Obviously real estate, gold, collectibles, equities, real estate. 0:10:37.880 --> 0:10:40.200 Now gold was only a five trillion dollar asset in 0:10:40.200 --> 0:10:42.240 twenty ten. By twenty twenty it was eleven and a 0:10:42.280 --> 0:10:44.840 half trillion. Real estate was about one hundred and eighty 0:10:44.840 --> 0:10:47.400 trillion by twenty twenty three hundred twenty six trillion, growing 0:10:47.400 --> 0:10:50.400 out of six percent arr Now, during this time, all 0:10:50.480 --> 0:10:52.720 store of value assets went up by about eight percent. 0:10:53.880 --> 0:10:57.160 Arr Bitcoin went up four four hundred and twenty six percent. 0:10:57.280 --> 0:10:59.640 Amazing time to be in bitcoin. During that time, we 0:10:59.640 --> 0:11:02.839 can see that bitcoin went from about thirty cents for 0:11:02.920 --> 0:11:06.000 a bitcoin to twenty eight thousand dollars, again an ar 0:11:06.080 --> 0:11:09.200 are of forty four twenty six percent. Now during this time, 0:11:09.760 --> 0:11:14.160 Bitcoin by twenty twenty took about zero percent of store 0:11:14.280 --> 0:11:17.200 value assets. Not even a blip, not even a drop 0:11:17.240 --> 0:11:20.320 in the bucket. Okay, now let's get into some of 0:11:20.360 --> 0:11:22.800 this future. Okay. Now, Phase two is what we call 0:11:22.880 --> 0:11:25.439 the frenzy phase, and this is where we're at today. Right, 0:11:25.559 --> 0:11:27.680 this is going to be unlike anything we've ever seen, 0:11:27.880 --> 0:11:30.839 and no matter how bullish you are, you're not bullish enough. Now, 0:11:30.840 --> 0:11:34.240 this is where bitcoin evolves from the collectible phase and 0:11:34.440 --> 0:11:39.720 cements itself as the premiere store values. We're in this 0:11:39.800 --> 0:11:43.360 institutional frenzy phase and we're starting to see institutional adoption 0:11:43.480 --> 0:11:45.360 come in. And now of course here we are talking 0:11:45.360 --> 0:11:48.199 about sovereign adoption that both happen in this phase. Now, 0:11:48.200 --> 0:11:51.800 this maps again in the evolution of money, and we'll 0:11:51.840 --> 0:11:54.560 complete the store value phase. But this is where we're 0:11:54.559 --> 0:11:56.920 at today now. Again, not all collectibles make it to 0:11:57.000 --> 0:12:00.679 this next level, but bitcoin will. I do want to 0:12:00.679 --> 0:12:02.680 point out real quick for everybody who thinks that they're 0:12:02.679 --> 0:12:05.640 too late, that maybe they're missed it. Using an S 0:12:05.720 --> 0:12:09.880 curve dynamic is how we'll look at technology adoption. Now. 0:12:09.960 --> 0:12:11.599 One way we can look at this S curve is 0:12:11.640 --> 0:12:13.880 that the time it takes to go from zero to 0:12:13.920 --> 0:12:16.559 ten percent is the time it takes to go from 0:12:16.600 --> 0:12:19.520 ten to ninety percent. And the reason why I want 0:12:19.559 --> 0:12:21.640 to show you this is because it illustrates that the 0:12:21.679 --> 0:12:26.000 size of this move we're going into now is much larger. Sure, 0:12:26.000 --> 0:12:28.720 today bitcoin is about a two trillion dollar US dollar 0:12:28.880 --> 0:12:32.240 market cap. Hundreds of billions of dollars have gone into it, 0:12:32.840 --> 0:12:35.840 and now we're about to see trillions of dollars come 0:12:35.880 --> 0:12:38.679 into it. The size and speed of the mood is 0:12:38.760 --> 0:12:42.360 much bigger. So you haven't missed anything. It's just getting started. Now. 0:12:42.440 --> 0:12:45.360 At this point, we can see this total store of 0:12:45.400 --> 0:12:47.199 ias that you can see bitcoing down here on the 0:12:47.240 --> 0:12:50.040 bottom right, sitting today at about two trillion, and it's 0:12:50.080 --> 0:12:53.360 still just a little blip on the road right here, 0:12:54.120 --> 0:12:56.040 a drop in the bucket. Now, how much bigger is 0:12:56.040 --> 0:12:57.719 it going to get? Well, I got a bunch more 0:12:57.800 --> 0:12:59.720 smart charts to show you she don't worry. But really, 0:13:00.120 --> 0:13:03.040 right now this is the frenzy, This is the institutional phase. 0:13:03.080 --> 0:13:05.480 We can see that right now today about sixty companies 0:13:05.760 --> 0:13:08.800 have already started adopting bitcoin on their balance sheet. And 0:13:08.840 --> 0:13:10.960 this is happening every day we see new announcements of 0:13:10.960 --> 0:13:13.960 this happening. This chart, the big chart here shows the 0:13:14.000 --> 0:13:16.840 real institutional adoption. We have micro Strategy adding about a 0:13:16.880 --> 0:13:20.360 billion dollars a week. I just saw before I went 0:13:20.400 --> 0:13:23.439 on stage. Riot just added about half a billion dollars 0:13:23.440 --> 0:13:26.920 of debt to buy bitcoin. We have our Marathon doing 0:13:26.960 --> 0:13:29.720 a billion dollars. And right now this is showing us 0:13:29.720 --> 0:13:33.079 that about thirteen and a half percent of all bitcoin 0:13:33.520 --> 0:13:37.280 is now being held by institutions. Of course, it is 0:13:37.679 --> 0:13:40.880 bitcoin was always coming for everybody, and this is part 0:13:40.920 --> 0:13:43.880 of the second stage. Now it's not just institutions, it's 0:13:43.920 --> 0:13:47.680 also sovereign adoption. We have sovereign fomo, We have a 0:13:47.720 --> 0:13:50.640 Force El Salvador sort of with this first mover advantage. 0:13:50.800 --> 0:13:54.440 Brazil just introducing bills to build a strategic reserve. Of course, 0:13:54.480 --> 0:13:57.360 the United States has their bitcoin bill going through now. 0:13:57.400 --> 0:13:59.559 Per poly Market, I looked earlier. Today it's about a 0:13:59.600 --> 0:14:02.400 twenty five five percent chance of going through. I think 0:14:02.400 --> 0:14:04.200 that's way too low. I think it's going to be 0:14:04.280 --> 0:14:09.240 much higher now. History shows us what happens when sovereigns 0:14:09.280 --> 0:14:14.080 start competing a small business owner, are you buried in 0:14:14.200 --> 0:14:16.640 all types of work keeping you from the real thing 0:14:16.679 --> 0:14:19.440 that makes you money? Well that's where just Works comes in. 0:14:19.480 --> 0:14:22.520 They're the all in one platform that supports small business growth. 0:14:22.720 --> 0:14:25.320 You can get all their tools that help with benefits 0:14:25.360 --> 0:14:29.920 like payroll and HR and compliance with transparent pricing. Now 0:14:30.000 --> 0:14:33.520 they help you hire top talent internationally, internew markets, quickly 0:14:33.800 --> 0:14:37.920 scale international operations without the workload and forevery how do 0:14:38.040 --> 0:14:39.880 I do it? Question? You can reach out to their 0:14:39.920 --> 0:14:43.440 expert staff from sole proprietor or a team of twenty. 0:14:43.800 --> 0:14:47.400 Just Works empowers all kinds of small businesses with real 0:14:47.520 --> 0:14:51.840 human support. So visit justworks dot com slash podcast to 0:14:51.920 --> 0:14:54.880 join the thousands of small businesses that trust just Works 0:14:55.000 --> 0:14:58.440 to take care of payroll, benefits, compliance and more. Again 0:14:58.600 --> 0:15:04.440 that's Just Works slash podcast. History shows us a lot 0:15:04.440 --> 0:15:08.200 of things. So for example, in the eighteen hundreds, the 0:15:08.360 --> 0:15:12.360 entire world decided to go to a gold standard. Some 0:15:12.400 --> 0:15:13.920 parts of the world, like China, didn't want of the 0:15:13.920 --> 0:15:16.280 gold standard. They had silver. They wanted to stay with silver, 0:15:16.680 --> 0:15:18.840 and they lost their position as a world leader. We 0:15:18.880 --> 0:15:23.000 saw the nineteen fifties the race for space, we saw 0:15:23.040 --> 0:15:27.240 the race for nuclear weapons. When nations start competing, things 0:15:27.400 --> 0:15:29.800 really take off. So we have a precedent for where 0:15:29.840 --> 0:15:34.000 this is going. But why why are the institutions foaming 0:15:34.040 --> 0:15:37.560 in racing into a new asset. Well, because they see 0:15:38.320 --> 0:15:41.680 what we all should see. They see that there is 0:15:41.800 --> 0:15:45.560 no end to the monetary debasement that's coming, and they're 0:15:45.600 --> 0:15:49.240 all looking for a way to protect themselves. What we 0:15:49.320 --> 0:15:51.320 have right here is that we can see the bottom 0:15:51.400 --> 0:15:54.240 right is the US Federal Reserves balance sheet, which has 0:15:54.280 --> 0:15:57.720 been expanding by thirteen percent a year over the last 0:15:57.720 --> 0:15:59.840 four years. We can see the money supply has been 0:16:00.200 --> 0:16:02.280 averaging over eight and a half percent over the last 0:16:02.320 --> 0:16:05.160 four years, and there's no end in sight. How do 0:16:05.200 --> 0:16:07.640 we know there's no in insight? Well, besides the fact 0:16:07.640 --> 0:16:09.480 that they're in a debt based monetary system that always 0:16:09.520 --> 0:16:12.680 has to grow. The government actually tells us that we 0:16:12.680 --> 0:16:15.200 can look at the CBO Congressional Budget Office and we 0:16:15.240 --> 0:16:17.560 can see that they are projecting through twenty fifty four 0:16:17.600 --> 0:16:20.600 the next thirty years for us, and they show us 0:16:20.600 --> 0:16:22.800 that the deficit spending is going to get bigger and 0:16:22.840 --> 0:16:25.160 bigger and bigger. They show us that the debt levels 0:16:25.200 --> 0:16:27.600 are going to go up like a hockey stick. And 0:16:27.680 --> 0:16:30.080 they also show us that population growth on the top 0:16:30.160 --> 0:16:33.040 right is going to plummet as the GDP goes down. 0:16:33.080 --> 0:16:36.760 At the same time population growth going down, GDP going 0:16:36.840 --> 0:16:40.680 down means debt levels go up. Now, they also show 0:16:40.720 --> 0:16:43.320 us the budget through twenty fifty four, thirty years from now, 0:16:43.720 --> 0:16:46.440 and there's no recession in sight. They don't expect any 0:16:46.440 --> 0:16:50.280 dip in the revenue coming in. So where does all 0:16:50.360 --> 0:16:55.240 this come from? Money printing? Now? Of course this is 0:16:55.280 --> 0:16:57.240 what they tell us for the next thirty years. When 0:16:57.240 --> 0:17:00.080 you look at the population decline and the GDP decline, 0:17:00.240 --> 0:17:03.760 I think this is way understated. But for the purpose 0:17:03.760 --> 0:17:05.760 of what we're doing, we're going to use these numbers 0:17:05.760 --> 0:17:09.520 and project it out into the future. So in this 0:17:09.560 --> 0:17:12.679 phase from twenty twenty to twenty thirty, using the numbers 0:17:12.720 --> 0:17:14.760 that we have from the last four to five years, 0:17:15.080 --> 0:17:17.840 we can project out the money supply growth at eight percent, 0:17:17.920 --> 0:17:21.120 continuing bonds going up five percent, real estate and equities, 0:17:21.160 --> 0:17:24.480 which are basically perfect proxies for monetary debasement, going up 0:17:24.480 --> 0:17:28.119 at eight percent. Bitcoin maybe averaging finishing the decade at 0:17:28.160 --> 0:17:30.439 about a fifty three percent. We're at about sixty percent 0:17:30.560 --> 0:17:33.680 right now. That would put bitcoin at a twenty one 0:17:33.800 --> 0:17:37.600 trillion market cap one million dollars per bitcoin in the 0:17:37.640 --> 0:17:42.359 next five years or a ten x from right here. Now, 0:17:42.480 --> 0:17:44.399 this may sound like a big number, but if we 0:17:44.440 --> 0:17:48.560 look at it, bitcoin is only capturing one point five 0:17:48.760 --> 0:17:53.160 percent of total store value asset, is the point. Now, 0:17:53.160 --> 0:17:55.680 if it was able to get five percent, which might 0:17:55.760 --> 0:17:58.200 be way more reasonable, that puts bitcoin at a three 0:17:58.359 --> 0:18:02.000 million dollar price per bitcoin. So I believe one million 0:18:02.160 --> 0:18:06.240 is extremely bearish and not bullish at all. Now, let's 0:18:06.280 --> 0:18:08.480 just keep going. If we look at it as a 0:18:08.520 --> 0:18:11.119 percentage of store value assets, just so you can visually 0:18:11.160 --> 0:18:13.000 see it a little bit better, you can see that 0:18:13.040 --> 0:18:16.440 now bitcoin is about on par with gold. Maybe it's overtaken, 0:18:16.480 --> 0:18:19.200 it's flipped gold by this time. Now. It's one point 0:18:19.200 --> 0:18:21.000 that I want to bring out right here real quickly. 0:18:21.200 --> 0:18:22.840 Is a lot of people think that for bitcoin to 0:18:22.880 --> 0:18:26.080 be worth one million or five million or twenty million. Well, 0:18:26.080 --> 0:18:29.400 the dollar's worthless right at that point, the dollar doesn't 0:18:29.440 --> 0:18:33.280 buy anything. No, that's absolutely not right. You see, bitcoin 0:18:33.400 --> 0:18:35.920 is disrupting other assets. I have a venture fund called 0:18:35.920 --> 0:18:39.520 the Bitcoin Opportunity Fund. As a venture investor, we look 0:18:39.520 --> 0:18:42.359 at a disruptive technology, we look at the size of 0:18:42.400 --> 0:18:45.399 the markets it's disrupting, and then we speculate as to 0:18:45.520 --> 0:18:48.480 what percentage we think we could take from those other markets. 0:18:48.760 --> 0:18:51.760 So bitcoin is taking from bonds, it's taking from real estate, 0:18:51.800 --> 0:18:55.040 it's taking from equities. The dollar doesn't have to die. Sure, 0:18:55.119 --> 0:18:58.040 gas goes from four dollars to eight dollars, it doesn't 0:18:58.080 --> 0:19:01.879 mean it goes to zero. Now is that realistic to 0:19:02.000 --> 0:19:05.480 get one percent? Well, we can look at other disruptive 0:19:05.480 --> 0:19:08.440 technologies like Uber or Airbnb. Both of them were able 0:19:08.440 --> 0:19:11.800 to capture ten percent of their market in less than 0:19:11.880 --> 0:19:15.880 ten years. One and a half percent is extremely conservative. 0:19:16.040 --> 0:19:18.760 All right, Now let's start going into the future. Now 0:19:18.760 --> 0:19:21.480 we're getting into what's called the deployment phase. This is 0:19:21.480 --> 0:19:24.600 twenty thirty to twenty forty. Now, this is where things 0:19:24.640 --> 0:19:28.400 start getting really exciting. But warning, I have to leave 0:19:28.440 --> 0:19:31.240 some historical numbers behind, and I got to start using 0:19:31.280 --> 0:19:34.960 my crystal ball. This is the adoption and the synergy phase. Now, 0:19:35.000 --> 0:19:37.480 this is where things start getting really exciting. We start 0:19:37.520 --> 0:19:40.560 to see adoption. Some interesting things about adoption is a 0:19:40.560 --> 0:19:43.480 lot of bitcoin critics want to tell you that bitcoin's 0:19:43.480 --> 0:19:47.520 already failed. It hasn't achieved any adoption. Why is it 0:19:47.600 --> 0:19:49.960 in a medium of exchange? They tell you, why can't 0:19:50.000 --> 0:19:52.760 I just go to the store anywhere and spend my bitcoin? 0:19:52.800 --> 0:19:56.240 They ask, well, I'll tell you why. Because history gives 0:19:56.320 --> 0:19:58.240 us a framework and tells us that it doesn't come 0:19:58.320 --> 0:20:01.720 until the next phase. Anyone who's expecting that right now 0:20:02.000 --> 0:20:07.400 doesn't understand technological revolutions. They don't understand monetary history. They 0:20:07.400 --> 0:20:10.720 don't understand that there's this evolutionary and emergent process that 0:20:10.760 --> 0:20:13.160 we have to go through. And what they also failed 0:20:13.200 --> 0:20:17.200 to understand is that even though Satoshi called an electronics 0:20:17.359 --> 0:20:20.080 cache system, they say it's failed because it's only a 0:20:20.080 --> 0:20:22.520 store of value. They fail to understand monetary history and 0:20:22.560 --> 0:20:27.800 something specifically called Gresham's law. Gresham's law says that bad 0:20:27.920 --> 0:20:32.480 money drives out good, bad money drives out good. So 0:20:32.520 --> 0:20:35.640 what that means is we're always gonna want to use 0:20:35.680 --> 0:20:39.200 the bad money, not the good money. As long as 0:20:39.240 --> 0:20:43.080 I can use fiat currency to buy my lunch, buy 0:20:43.080 --> 0:20:45.520 my drink at the bar, I'm gonna use the fiat currency, 0:20:45.560 --> 0:20:48.080 and I'm gonna save the good money, which is the bitcoin. 0:20:48.400 --> 0:20:50.560 Why would I spend the good money? Now, we have 0:20:50.640 --> 0:20:53.520 a perfect way to understand this. In the United States, 0:20:53.600 --> 0:20:56.520 of course, we have coins, and we have quarters and dimes. 0:20:56.960 --> 0:20:59.639 Up till nineteen sixty five, these were made out of 0:20:59.680 --> 0:21:03.960 pure silver. Starting in nineteen sixty five they made them 0:21:03.960 --> 0:21:07.919 with junk metal that's nickel and copper. You cannot find 0:21:07.920 --> 0:21:12.080 in America a pre sixty five quarter or diamond circulation. 0:21:12.560 --> 0:21:16.080 They're all gone. They were driven out. If you just 0:21:16.160 --> 0:21:18.840 so happened to get some change and you found a 0:21:18.880 --> 0:21:22.159