Speaker 1: Is bitcoin really going to a million or ten million? Well, actually,
Speaker 1: I'm going to tell you why. I think that's actually bearished. Now,
Speaker 1: this isn't some hypothetical. I'm going to show you how
Speaker 1: five times over the last three hundred years, this exact
Speaker 1: process has played out. I'm here in Bitcoin Mina. This
Speaker 1: is the capital of capitol. I'm talking about Abu Dhabi.
Speaker 1: I'm about to go on this stage. I'm gonna show
Speaker 1: you exactly where we're at right now and the blueprint
Speaker 1: of how we progress through twenty thirty, twenty forty, and
Speaker 1: ultimately twenty fifty. If you want to know exactly where
Speaker 1: we're at and how to navigate this, stick with me
Speaker 1: as we go up on stage and break it down.
Speaker 1: Bitcoin was always coming for everybody. This is not just
Speaker 1: a new technology. This is a revolution. There is no
Speaker 1: end to the monetary debasement that's coming that would put
Speaker 1: bitcoin at a twenty one trillion market gap one million
Speaker 1: dollars per bitcoin. At that point, the dollar doesn't buy anything. No,
Speaker 1: that's absolutely not right. And this is where bitcoin evolves
Speaker 1: beyond just a financial asset. You no longer measure your
Speaker 1: wealth in fiat. You measure your wealth in bitcoin, and
Speaker 1: at this point it's bitcoin to about four hundred million
Speaker 1: dollars per bitcoin. Are you going to take advantage and
Speaker 1: help lead this revolution or a you're just going to
Speaker 1: watch it pass by? Please join me and welcoming. All
Speaker 1: right now, in order to understand where we're going, let's
Speaker 1: just jump and look into the future for us. Can
Speaker 1: Let's imagine that we're in the year twenty fifty. Bitcoin
Speaker 1: isn't priced in dollars, euros, in or duran anymore, because
Speaker 1: at this point these currencies don't matter. Global trade is
Speaker 1: now happening in Satoshi's Sovereign nations are now settling in bitcoin,
Speaker 1: and your wealth is denominating in bitcoin. At this time,
Speaker 1: one bitcoin equals one bitcoin and the world has changed.
Speaker 1: This isn't some wild fantasy, This isn't some speculation. What
Speaker 1: I'm going to break down for you right now is
Speaker 1: I'm going to show you how this same historical pattern
Speaker 1: has happened five times over the last three hundred years,
Speaker 1: and it's a repeatable pattern, a predictable pattern that gives
Speaker 1: us a blueprint to follow along what I call a
Speaker 1: quantum leap. Now, this is a point when technology changes
Speaker 1: the rules of the game It changes the way that
Speaker 1: we work, interact, and live in the world, and the
Speaker 1: rules change, the balance of power is shifted forever, and
Speaker 1: the way that we view the world we interact in
Speaker 1: the world has changed. Now, as I said, this happens
Speaker 1: on a fifty year time frame, since we had the
Speaker 1: birth of the Industrial revolution in the mid seventeen hundreds.
Speaker 1: Each one of these represents a time when the entire
Speaker 1: world completely changes, what I'm calling a quantum shift. We
Speaker 1: had the Industrial Revolution. About fifty years later, we had
Speaker 1: steam engines and railways. About fifty years later, we had
Speaker 1: steel heavy equipment. We had electricity. About fifty years later,
Speaker 1: we had automobiles, oil, oil fuels, mass production. About fifty
Speaker 1: years later, we had the birth of the microprocess, of
Speaker 1: which brought birth to the telecom, the personal computer, and
Speaker 1: the Internet. Now, one thing to keep in mind with
Speaker 1: this is that this is not about one new technology.
Speaker 1: This is about a cluster of technologies that come together
Speaker 1: to give us a new set of building blocks to
Speaker 1: build things that we can't even imagine today. Humans are
Speaker 1: no good to imagine in the future because all we
Speaker 1: can do is imagine a better version of what we
Speaker 1: have now. We're going into what I'm calling the sixth Revolution.
Speaker 1: This is the sixth time we've seen this cycle repeat
Speaker 1: and what I'm calling the decentralized revolution. Now, it's not
Speaker 1: just that the world completely changes from the technology, which
Speaker 1: of course it does, but it drives all financial markets.
Speaker 1: The only place to invest for the last fifty years
Speaker 1: has been the Internet and personal computers and telecommon. Before that,
Speaker 1: it was Ford and GM and GM. Before that, it
Speaker 1: was oil and it was steel. Each one of these
Speaker 1: cycles represents a new set of generational wealth, and each
Speaker 1: one of us right now are sitting at this point
Speaker 1: where we have the ability to create generational wealth as
Speaker 1: this cycle unfolds. Now, as I said this, each one
Speaker 1: of these cycles that's happened five times now we're on
Speaker 1: the six has a repeatable process and broken down into
Speaker 1: four stages. Now, the first stage is what we call
Speaker 1: the eruption phase. Now we have the Big Bang, which
Speaker 1: is where the new invention came and there's a lot
Speaker 1: of excitement about it, and there's some people who like
Speaker 1: to tinker, the nerds maybe they like to play with it,
Speaker 1: and we have this eruption that happens in this Big Bang. Now,
Speaker 1: it's worth noting that this is because the previous fifty
Speaker 1: year cycle is starting to die out and we have
Speaker 1: a new bang, the big bang that takes off. Now
Speaker 1: this is the eruption or the emergence of this fifty
Speaker 1: year cycle. The second phase. I've went ahead and put
Speaker 1: a green line here shows sort of where I believe
Speaker 1: we are right now, which is the frenzy phase. Now
Speaker 1: this is about speculation in this phase. This is the
Speaker 1: emergence of this cycle. Then we go to phase three,
Speaker 1: which is the synergy phase. This is wherely where we
Speaker 1: start to see integration of these new technologies into society.
Speaker 1: And then finally we have the fourth phase, which is maturity.
Speaker 1: This is where the global standardization happens and the next
Speaker 1: great surge begins. So now you have sort of like
Speaker 1: a little bit of a framework of what I'm talking about.
Speaker 1: And the old system that we have dying are these
Speaker 1: centralized systems. And so the last cycle, which we talked
Speaker 1: about telecom, personal computers, Internet has started to die. The
Speaker 1: Internet has lots of problems, lots of centralization, and so
Speaker 1: now we have a decentralized wave that's starting to take off,
Speaker 1: giving us a new set of protocols for money, for
Speaker 1: communication and other things like that. And this is why
Speaker 1: I'm calling it the decentralized Revolution. Now, each of these
Speaker 1: four phases, as I said, are very predictable, and we
Speaker 1: can map out this decentralized revolution, and we can overlay
Speaker 1: bitcoin perfectly to this. So it gives us a perfect example,
Speaker 1: and we'll break down exactly where we'll be in twenty fifty.
Speaker 1: As I framed in the beginning, this is not some
Speaker 1: hypothetical fantasy that, of course we're all dreaming and believing in.
Speaker 1: But instead history shows us this is what the reality
Speaker 1: will be. All right. Now, what's one more thing I
Speaker 1: want to overlay is it also overlays perfectly with money.
Speaker 1: If you go back through thousands of years of monetary history,
Speaker 1: you'll understand that money, as we know it is both
Speaker 1: evolutionary and emergent, So it goes through four phases. Anybody
Speaker 1: read Safety's book The Bitcoin Standard, you might understand some
Speaker 1: of this. So we've had lots of forms of money
Speaker 1: from feathers, rocks, and seashells, and eventually gold emerged and
Speaker 1: it goes from a collectible phase. Oh look at this
Speaker 1: cool rock, Look at this cool feather, this cool seashell
Speaker 1: let's collect it. Now some things, obviously not all of them.
Speaker 1: Some collectibles could emerge, could evolve to the next stage,
Speaker 1: which becomes of store of value. Now, in this store
Speaker 1: of value phase, we see this today, lots of wealthy
Speaker 1: people store their value in collectibles, fine art, old cars, paintings,
Speaker 1: Pokemon cards, baseball cards, whatever that may be. Now, if
Speaker 1: some of these store value assets have the right qualities
Speaker 1: most of them don't to be money, then it could
Speaker 1: potentially emerged evolve to the final the next day of
Speaker 1: medium exchange. Now it has to be portable, divisible, durable, recognizable,
Speaker 1: et cetera. A mona Lisa could not make a medium
Speaker 1: exchange because of course you can't divide it. A cow
Speaker 1: could be divided, but it's not fungible parts for parts.
Speaker 1: So if we have the right attributes, we can go
Speaker 1: to the medium xchange and then ultimately, if we've met
Speaker 1: all of these levels, we could go to the unit
Speaker 1: of account. So this overlays perfectly with technology. So we're
Speaker 1: witnessing all of this at one time. So let's just
Speaker 1: break down. Let's jump into the pass real quick. Let's
Speaker 1: just recap where rap phase one, which is eruption. This
Speaker 1: is from twenty ten to twenty twenty. We're going to
Speaker 1: go pretty quick through this. So in this phase again,
Speaker 1: this really is represented by retail adoption. Right in this
Speaker 1: first phase, it's defined by the same challenges though as
Speaker 1: every other one of these revolutions in history, which is
Speaker 1: the technology is limited by scalability. Right when automobiles were introduced,
Speaker 1: for example, within three years, there's two hundred and fifty manufacturers,
Speaker 1: but they couldn't scale. There was no roads, gas stations,
Speaker 1: no tires. The Internet was out for over twenty years.
Speaker 1: By the year two thousand, after the dot com boom,
Speaker 1: less than ten percent of people had bought anything online
Speaker 1: because the Internet was too slow and it couldn't scale.
Speaker 1: The same thing we saw with bitcoin. It was hampered
Speaker 1: with scaling solutions, which is exactly what's supposed to happen
Speaker 1: in the first phase, which led to other things like
Speaker 1: alt coins. But we'll get back to that in a second. Now,
Speaker 1: this overlaps perfectly with money. So in this first phase
Speaker 1: ten twenty ten to twenty twenty, bitcoin is in this
Speaker 1: collectible phase. Now we can see some illustrations of this.
Speaker 1: We had a famous Laslo spending ten thousand bitcoin on
Speaker 1: a pizza back in twenty ten. So this bitcoin, this collectible,
Speaker 1: what is it? Let's see what we can do with it?
Speaker 1: Would anybody trade me one collectible for another? How about
Speaker 1: some pizzas it was a groundbreaking experiment. Of course it
Speaker 1: was a very expensive pizza looking back at it. But
Speaker 1: remember each one of these cycles is held back by scaling,
Speaker 1: and so in this scaling, then we had this experimentation,
Speaker 1: this alt coin boom. Well, let's make ones that are
Speaker 1: faster and cheaper and more private. But this is one
Speaker 1: piece that's always their present. It was a necessary step.
Speaker 1: Now I believe that this collectible phase really headed up
Speaker 1: in twenty twenty, and we can see where this really
Speaker 1: took a blowoff top with NFTs, the ultimate collectible. The
Speaker 1: NFT market exploded in twenty twenty, growing three hundred percent
Speaker 1: over two hundred and fifty million dollars in transactions. Ninety
Speaker 1: seven percent of walls were using them, but by twenty
Speaker 1: twenty one it got to forty one billion. As you
Speaker 1: can see, by twenty twenty two it completely fell off.
Speaker 1: A clip trading volume dropped ninety seven percent, and today
Speaker 1: reports are that ninety nine percent of NFT projects are dead.
Speaker 1: So the collectible phase was a necessary step, but it's
Speaker 1: not the future. Now we can see that going into
Speaker 1: phase two, which is then the store of value phase.
Speaker 1: The seeds were already planted early on. We saw really
Speaker 1: back in twenty thirteen, venture capital fund Addison Horowitz already
Speaker 1: started to invest into bitcoin startups, trying to help build
Speaker 1: that next stage we saw twenty seventeen, CBE and CME
Speaker 1: started doing futures. That was really the first time we
Speaker 1: started seeing institutional adoption coming in for the store value.
Speaker 1: Twenty eighteen, fight Deli started planting the seeds to get
Speaker 1: other institutions in as well, and so that's where it phased.
Speaker 1: Now looking at some of the prices, we can see
Speaker 1: in twenty ten, these on the left are store of
Speaker 1: value assets. So these are assets that we store a
Speaker 1: wealth in. Obviously real estate, gold, collectibles, equities, real estate.
Speaker 1: Now gold was only a five trillion dollar asset in
Speaker 1: twenty ten. By twenty twenty it was eleven and a
Speaker 1: half trillion. Real estate was about one hundred and eighty
Speaker 1: trillion by twenty twenty three hundred twenty six trillion, growing
Speaker 1: out of six percent arr Now, during this time, all
Speaker 1: store of value assets went up by about eight percent.
Speaker 1: Arr Bitcoin went up four four hundred and twenty six percent.
Speaker 1: Amazing time to be in bitcoin. During that time, we
Speaker 1: can see that bitcoin went from about thirty cents for
Speaker 1: a bitcoin to twenty eight thousand dollars, again an ar
Speaker 1: are of forty four twenty six percent. Now during this time,
Speaker 1: Bitcoin by twenty twenty took about zero percent of store
Speaker 1: value assets. Not even a blip, not even a drop
Speaker 1: in the bucket. Okay, now let's get into some of
Speaker 1: this future. Okay. Now, Phase two is what we call
Speaker 1: the frenzy phase, and this is where we're at today. Right,
Speaker 1: this is going to be unlike anything we've ever seen,
Speaker 1: and no matter how bullish you are, you're not bullish enough. Now,
Speaker 1: this is where bitcoin evolves from the collectible phase and
Speaker 1: cements itself as the premiere store values. We're in this
Speaker 1: institutional frenzy phase and we're starting to see institutional adoption
Speaker 1: come in. And now of course here we are talking
Speaker 1: about sovereign adoption that both happen in this phase. Now,
Speaker 1: this maps again in the evolution of money, and we'll
Speaker 1: complete the store value phase. But this is where we're
Speaker 1: at today now. Again, not all collectibles make it to
Speaker 1: this next level, but bitcoin will. I do want to
Speaker 1: point out real quick for everybody who thinks that they're
Speaker 1: too late, that maybe they're missed it. Using an S
Speaker 1: curve dynamic is how we'll look at technology adoption. Now.
Speaker 1: One way we can look at this S curve is
Speaker 1: that the time it takes to go from zero to
Speaker 1: ten percent is the time it takes to go from
Speaker 1: ten to ninety percent. And the reason why I want
Speaker 1: to show you this is because it illustrates that the
Speaker 1: size of this move we're going into now is much larger. Sure,
Speaker 1: today bitcoin is about a two trillion dollar US dollar
Speaker 1: market cap. Hundreds of billions of dollars have gone into it,
Speaker 1: and now we're about to see trillions of dollars come
Speaker 1: into it. The size and speed of the mood is
Speaker 1: much bigger. So you haven't missed anything. It's just getting started. Now.
Speaker 1: At this point, we can see this total store of
Speaker 1: ias that you can see bitcoing down here on the
Speaker 1: bottom right, sitting today at about two trillion, and it's
Speaker 1: still just a little blip on the road right here,
Speaker 1: a drop in the bucket. Now, how much bigger is
Speaker 1: it going to get? Well, I got a bunch more
Speaker 1: smart charts to show you she don't worry. But really,
Speaker 1: right now this is the frenzy, This is the institutional phase.
Speaker 1: We can see that right now today about sixty companies
Speaker 1: have already started adopting bitcoin on their balance sheet. And
Speaker 1: this is happening every day we see new announcements of
Speaker 1: this happening. This chart, the big chart here shows the
Speaker 1: real institutional adoption. We have micro Strategy adding about a
Speaker 1: billion dollars a week. I just saw before I went
Speaker 1: on stage. Riot just added about half a billion dollars
Speaker 1: of debt to buy bitcoin. We have our Marathon doing
Speaker 1: a billion dollars. And right now this is showing us
Speaker 1: that about thirteen and a half percent of all bitcoin
Speaker 1: is now being held by institutions. Of course, it is
Speaker 1: bitcoin was always coming for everybody, and this is part
Speaker 1: of the second stage. Now it's not just institutions, it's
Speaker 1: also sovereign adoption. We have sovereign fomo, We have a
Speaker 1: Force El Salvador sort of with this first mover advantage.
Speaker 1: Brazil just introducing bills to build a strategic reserve. Of course,
Speaker 1: the United States has their bitcoin bill going through now.
Speaker 1: Per poly Market, I looked earlier. Today it's about a
Speaker 1: twenty five five percent chance of going through. I think
Speaker 1: that's way too low. I think it's going to be
Speaker 1: much higher now. History shows us what happens when sovereigns
Speaker 1: start competing a small business owner, are you buried in
Speaker 1: all types of work keeping you from the real thing
Speaker 1: that makes you money? Well that's where just Works comes in.
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Speaker 1: join the thousands of small businesses that trust just Works
Speaker 1: to take care of payroll, benefits, compliance and more. Again
Speaker 1: that's Just Works slash podcast. History shows us a lot
Speaker 1: of things. So for example, in the eighteen hundreds, the
Speaker 1: entire world decided to go to a gold standard. Some
Speaker 1: parts of the world, like China, didn't want of the
Speaker 1: gold standard. They had silver. They wanted to stay with silver,
Speaker 1: and they lost their position as a world leader. We
Speaker 1: saw the nineteen fifties the race for space, we saw
Speaker 1: the race for nuclear weapons. When nations start competing, things
Speaker 1: really take off. So we have a precedent for where
Speaker 1: this is going. But why why are the institutions foaming
Speaker 1: in racing into a new asset. Well, because they see
Speaker 1: what we all should see. They see that there is
Speaker 1: no end to the monetary debasement that's coming, and they're
Speaker 1: all looking for a way to protect themselves. What we
Speaker 1: have right here is that we can see the bottom
Speaker 1: right is the US Federal Reserves balance sheet, which has
Speaker 1: been expanding by thirteen percent a year over the last
Speaker 1: four years. We can see the money supply has been
Speaker 1: averaging over eight and a half percent over the last
Speaker 1: four years, and there's no end in sight. How do
Speaker 1: we know there's no in insight? Well, besides the fact
Speaker 1: that they're in a debt based monetary system that always
Speaker 1: has to grow. The government actually tells us that we
Speaker 1: can look at the CBO Congressional Budget Office and we
Speaker 1: can see that they are projecting through twenty fifty four
Speaker 1: the next thirty years for us, and they show us
Speaker 1: that the deficit spending is going to get bigger and
Speaker 1: bigger and bigger. They show us that the debt levels
Speaker 1: are going to go up like a hockey stick. And
Speaker 1: they also show us that population growth on the top
Speaker 1: right is going to plummet as the GDP goes down.
Speaker 1: At the same time population growth going down, GDP going
Speaker 1: down means debt levels go up. Now, they also show
Speaker 1: us the budget through twenty fifty four, thirty years from now,
Speaker 1: and there's no recession in sight. They don't expect any
Speaker 1: dip in the revenue coming in. So where does all
Speaker 1: this come from? Money printing? Now? Of course this is
Speaker 1: what they tell us for the next thirty years. When
Speaker 1: you look at the population decline and the GDP decline,
Speaker 1: I think this is way understated. But for the purpose
Speaker 1: of what we're doing, we're going to use these numbers
Speaker 1: and project it out into the future. So in this
Speaker 1: phase from twenty twenty to twenty thirty, using the numbers
Speaker 1: that we have from the last four to five years,
Speaker 1: we can project out the money supply growth at eight percent,
Speaker 1: continuing bonds going up five percent, real estate and equities,
Speaker 1: which are basically perfect proxies for monetary debasement, going up
Speaker 1: at eight percent. Bitcoin maybe averaging finishing the decade at
Speaker 1: about a fifty three percent. We're at about sixty percent
Speaker 1: right now. That would put bitcoin at a twenty one
Speaker 1: trillion market cap one million dollars per bitcoin in the
Speaker 1: next five years or a ten x from right here. Now,
Speaker 1: this may sound like a big number, but if we
Speaker 1: look at it, bitcoin is only capturing one point five
Speaker 1: percent of total store value asset, is the point. Now,
Speaker 1: if it was able to get five percent, which might
Speaker 1: be way more reasonable, that puts bitcoin at a three
Speaker 1: million dollar price per bitcoin. So I believe one million
Speaker 1: is extremely bearish and not bullish at all. Now, let's
Speaker 1: just keep going. If we look at it as a
Speaker 1: percentage of store value assets, just so you can visually
Speaker 1: see it a little bit better, you can see that
Speaker 1: now bitcoin is about on par with gold. Maybe it's overtaken,
Speaker 1: it's flipped gold by this time. Now. It's one point
Speaker 1: that I want to bring out right here real quickly.
Speaker 1: Is a lot of people think that for bitcoin to
Speaker 1: be worth one million or five million or twenty million. Well,
Speaker 1: the dollar's worthless right at that point, the dollar doesn't
Speaker 1: buy anything. No, that's absolutely not right. You see, bitcoin
Speaker 1: is disrupting other assets. I have a venture fund called
Speaker 1: the Bitcoin Opportunity Fund. As a venture investor, we look
Speaker 1: at a disruptive technology, we look at the size of
Speaker 1: the markets it's disrupting, and then we speculate as to
Speaker 1: what percentage we think we could take from those other markets.
Speaker 1: So bitcoin is taking from bonds, it's taking from real estate,
Speaker 1: it's taking from equities. The dollar doesn't have to die. Sure,
Speaker 1: gas goes from four dollars to eight dollars, it doesn't
Speaker 1: mean it goes to zero. Now is that realistic to
Speaker 1: get one percent? Well, we can look at other disruptive
Speaker 1: technologies like Uber or Airbnb. Both of them were able
Speaker 1: to capture ten percent of their market in less than
Speaker 1: ten years. One and a half percent is extremely conservative.
Speaker 1: All right, Now let's start going into the future. Now
Speaker 1: we're getting into what's called the deployment phase. This is
Speaker 1: twenty thirty to twenty forty. Now, this is where things
Speaker 1: start getting really exciting. But warning, I have to leave
Speaker 1: some historical numbers behind, and I got to start using
Speaker 1: my crystal ball. This is the adoption and the synergy phase. Now,
Speaker 1: this is where things start getting really exciting. We start
Speaker 1: to see adoption. Some interesting things about adoption is a
Speaker 1: lot of bitcoin critics want to tell you that bitcoin's
Speaker 1: already failed. It hasn't achieved any adoption. Why is it
Speaker 1: in a medium of exchange? They tell you, why can't
Speaker 1: I just go to the store anywhere and spend my bitcoin?
Speaker 1: They ask, well, I'll tell you why. Because history gives
Speaker 1: us a framework and tells us that it doesn't come
Speaker 1: until the next phase. Anyone who's expecting that right now
Speaker 1: doesn't understand technological revolutions. They don't understand monetary history. They
Speaker 1: don't understand that there's this evolutionary and emergent process that
Speaker 1: we have to go through. And what they also failed
Speaker 1: to understand is that even though Satoshi called an electronics
Speaker 1: cache system, they say it's failed because it's only a
Speaker 1: store of value. They fail to understand monetary history and
Speaker 1: something specifically called Gresham's law. Gresham's law says that bad
Speaker 1: money drives out good, bad money drives out good. So
Speaker 1: what that means is we're always gonna want to use
Speaker 1: the bad money, not the good money. As long as
Speaker 1: I can use fiat currency to buy my lunch, buy
Speaker 1: my drink at the bar, I'm gonna use the fiat currency,
Speaker 1: and I'm gonna save the good money, which is the bitcoin.
Speaker 1: Why would I spend the good money? Now, we have
Speaker 1: a perfect way to understand this. In the United States,
Speaker 1: of course, we have coins, and we have quarters and dimes.
Speaker 1: Up till nineteen sixty five, these were made out of
Speaker 1: pure silver. Starting in nineteen sixty five they made them
Speaker 1: with junk metal that's nickel and copper. You cannot find
Speaker 1: in America a pre sixty five quarter or diamond circulation.
Speaker 1: They're all gone. They were driven out. If you just
Speaker 1: so happened to get some change and you found a
Speaker 1: pre sixty five quarter in dime, you would not spend it.
Speaker 1: Why because a quarter now is worth four dollars, but
Speaker 1: you'd only get twenty five cents for it. The bad money,
Speaker 1: the worthless quarters and dimes, have driven out the good ones.
Speaker 1: You wouldn't spend those, And so it's a perfect illustration. Now,
Speaker 1: why would we then use bitcoin as a medium exchange. Well,
Speaker 1: we would only use bitcoin as a medium exchange if
Speaker 1: it could do something that the existing money the Fiat
Speaker 1: system could not be used for now. We can use
Speaker 1: this as another example. Gold collectors buy bags of what's
Speaker 1: called junk silver because they believe that at some point
Speaker 1: the Fiat system crashes and they're going to need the
Speaker 1: quarters and dimes in small denominations to barter with. They
Speaker 1: believe in a world where the other money, the field money,
Speaker 1: no longer works and they would need that money, which
Speaker 1: illustrates the point. So then we ask ourselves, well, what
Speaker 1: would we need bitcoin for that? FIA, it would be
Speaker 1: no good for certainly not to buy the drink at
Speaker 1: the bar, ork's fine for that, my plane ticket, make
Speaker 1: my house payment. So what kinds of things? Well, we
Speaker 1: look at the unique utility abilities of what bitcoin can do.
Speaker 1: It's fast and cheap, it's borderless, it's permissionless, it's censorship resistant,
Speaker 1: it's immutable. So if we need to do those types
Speaker 1: of things, then we might want to use bitcoin. Well, certainly,
Speaker 1: I guess in authoritarian regimes, maybe North Korea, Afghanistan, where
Speaker 1: they censor transactions, maybe we could do it there. But
Speaker 1: where I think the real use case comes, and it's
Speaker 1: coming really fast, and we're talking about right now, is
Speaker 1: the ability to do micro transactions that are both fast
Speaker 1: and cheap. Now what type of micro transactions being done
Speaker 1: fast a cheap, in a borderless way, in a permissionless
Speaker 1: way would be looking at? Well, anybody had heard of
Speaker 1: the rise of AI, more specifically AI agents. Now AI
Speaker 1: agents are the ability to build an AI bought to
Speaker 1: be autonomous and go do task transactions and maybe even
Speaker 1: build entire businesses by hiring other agents autonomously. Now, these
Speaker 1: AI agents are growing rapidly. Within the next couple of years,
Speaker 1: they will be completely taken over. As a matter of fact,
Speaker 1: we can see that by twenty forty they're expected to
Speaker 1: grow by over forty percent compounded annual growth rate. And
Speaker 1: these AI agents can't have a bank account because they're
Speaker 1: not a person. They can't pass KYC, but they can
Speaker 1: have a Bitcoin wallet. These AI agents can hire other
Speaker 1: AI agents and pay them micro transactions. Why micro How
Speaker 1: much does it cost to hire an A agent? The
Speaker 1: cost of power and compute? How many times will they
Speaker 1: need to transact hundreds, maybe thousands of times a day?
Speaker 1: And Fiat current you won't work for this. And this
Speaker 1: is all coming really fast, And I'm talking in the
Speaker 1: next couple of years. This is where bitcoin becomes indispensable.
Speaker 1: It enables a new era of autonomous collaboration. Now this
Speaker 1: isn't just me saying it. If you haven't been paying attention,
Speaker 1: it's all over. But Elon Musk says that by twenty thirty,
Speaker 1: robots and autonomous systems will dominate. The twenty thirties, he
Speaker 1: says that they're going to overtake humans be able to
Speaker 1: buy these things for twenty thousand dollars. Everyone's going to
Speaker 1: have them, Autonomous taxis, autonomous robots, and they'll all be
Speaker 1: running off of Bitcoin will be their economic backbone where
Speaker 1: Fiat fells, micro transactions, high fees, the need for permission,
Speaker 1: that's where Bitcoin will thrive. Just like electricity transformed cities,
Speaker 1: Bitcoin and AI together are going to power the next
Speaker 1: great economic revolution. Now, in this phase from twenty thirty
Speaker 1: to twenty forty, where we get the deployment, Bitcoin goes
Speaker 1: from a twenty one trillion market cap to almost a
Speaker 1: three hundred trillion bion dollar market cap. Now we're not
Speaker 1: talking about four thousand percent compounded onto a growth or
Speaker 1: ar like we saw in the past. We're talking more
Speaker 1: of a modest thirty percent If real estate and equities
Speaker 1: are still going up by eight. If the money supply
Speaker 1: is expanding more than that, bitcoin is going to be
Speaker 1: at least doing thirty percent, which takes it from twenty
Speaker 1: one trillion to three hundred trillion, or puts it at
Speaker 1: about a fourteen million dollars price per bitcoin. Now, by
Speaker 1: then bitcoin would be worth is that fourteen million is
Speaker 1: going to dominate the global store of asset st value stage.
Speaker 1: And if we look at this visually, we can see
Speaker 1: that it's now taking over collectibles in gold, and it's
Speaker 1: now catching up to the money supply. Still a little
Speaker 1: bit behind equities, but it's catching on quick. Do you
Speaker 1: guys want to see? We're at twenty fifty? All right?
Speaker 1: All right, here we are phase four. Now, this is
Speaker 1: the maturity phase. This is covering again twenty forty to
Speaker 1: twenty fifty, and this is where bitcoin evolves beyond just
Speaker 1: a financial asset. This is where it becomes something even bigger.
Speaker 1: So let me go back to my crystal ball one
Speaker 1: more time. See what we got. Okay, So we're in
Speaker 1: the maturity phase. And the maturity phase is where bitcoin
Speaker 1: finally becomes a unit of account. This is where as
Speaker 1: we've seen throughout history. Using this repeatable framework, we've evolved
Speaker 1: to the final stage of a unit of account. Now
Speaker 1: this maps over perfectly. By this phase, Bitcoin achieves this
Speaker 1: role as this global unit of account, and we start
Speaker 1: to see things that we haven't seen before. So, for example,
Speaker 1: in this maturity phase, we start to realize that life's
Speaker 1: getting easier. Life's not getting more expensive, Life's getting easier,
Speaker 1: Life's getting cheaper. I have to work less to achieve
Speaker 1: the same lifestyle I had before. So for example, in
Speaker 1: twenty sixteen, homes cost on average United States two hundred
Speaker 1: and eighty eight thousand dollars or six hundred and sixty
Speaker 1: four bitcoin. Today, the median home has gone from two
Speaker 1: eighty eight to four hundred and thirty four thousand, but
Speaker 1: it's only four bitcoin. Life is getting easier Bitcoin flip
Speaker 1: to script on that. But it's not just homes. We
Speaker 1: can see all financial assets, oil, gold, the S and
Speaker 1: P five hundred in the last five years have dropped
Speaker 1: almost ninety percent when priced in bitcoin terms. And it's
Speaker 1: not just financial assets, agriculture, eggs, cheese, beef, wheat, lumber,
Speaker 1: everything that we need to live dropping by ninety percent
Speaker 1: priced in bitcoin. This is what a bitcoin denominated world
Speaker 1: looks like. It's not just about cheaper goods. It's about
Speaker 1: a world where life gets easier for us. It's about
Speaker 1: where your money works for you. Now, imagine a world
Speaker 1: where your money gets stronger every year. Imagine a world
Speaker 1: where your money buys you more goods and services in
Speaker 1: the future instead of less. A world where actually we're
Speaker 1: seeing innovation thrive and again life getting easier and not harder.
Speaker 1: Now under this bitcoin standard, we can actually start to
Speaker 1: see the reality of AI and robotics and energy all
Speaker 1: working together to reduce the costs and expand access, creating
Speaker 1: massive amounts abundance. Now, this isn't a bitcoin denominated world.
Speaker 1: As Jeff Booth laid out earlier, This cannot happen in
Speaker 1: a fiat world. The systems are incompatible. The only way
Speaker 1: we achieve this is with bitcoin, and of course everybody
Speaker 1: wants this now in this phase, the maturity phase, I'm
Speaker 1: predicting again using what the Congressional Budget's Office has shown
Speaker 1: us through twenty fifty four, that the money printing continues.
Speaker 1: Global store of assets have gone from three point five
Speaker 1: quadrillion dollars to eight point five quadrillion dollars, which sounds
Speaker 1: absolutely crazy, but again, my parents bought a home for
Speaker 1: forty thousand dollars. I mean, that's how crazy this world is. Now.
Speaker 1: Money is still there, bonds are still there, real estate,
Speaker 1: equities collectible as gold, all of those things are there.
Speaker 1: Bitcoin has now slowed down to about a twenty percent ARR.
Speaker 1: We're not talking crazy numbers. We're not talking to four
Speaker 1: thousand percent ARR. And bitcoin has gone from a two
Speaker 1: hundred and eighty nine trillion to now at one point
Speaker 1: eight quadrillion dollar asset class. Divided that by the twenty
Speaker 1: one million and we are talking eighty five million dollars
Speaker 1: per bitcoin. And again, this doesn't mean the dollars worthless.
Speaker 1: This doesn't mean that dollars are no longer here. This
Speaker 1: just means that bitcoin has captured value from all the
Speaker 1: other asset classes. Bitcoin is now the second largest asset
Speaker 1: in the world, behind real estate. And yes, it's pulled
Speaker 1: a lot of value from real estate, but we still
Speaker 1: you know, turns out need places to live, still need
Speaker 1: to warehouses for our stuff, buildings to meet in. Turns out,
Speaker 1: we still need real estate. But it has pulled value
Speaker 1: from real estate as well as every other asset that's
Speaker 1: out there. It's become the denominator. And at this point,
Speaker 1: the world has decided that we should no longer use
Speaker 1: the denominator of fiat currency. And at this point bitcoin
Speaker 1: has reached its full and final stage, which is stage five,
Speaker 1: and has become the global unit of account. At this point,
Speaker 1: you no longer measure your wealth in fiat as you're
Speaker 1: your wealth in bitcoin, and at this point, one bitcoin
Speaker 1: equals one bitcoin. Now at that point, this is going
Speaker 1: to sound crazy, but hopefully I've built this foundation for you.
Speaker 1: At that point, we're talking eight and a half trillion
Speaker 1: dollars of global store value assets just using the FEDS
Speaker 1: CBO or the CBO's projections of money printing, and a
Speaker 1: basic historical growth rate eight and a half eight point
Speaker 1: five quadrillion dollars. If any of you are good at math,
Speaker 1: divide that by twenty one million, and that puts bitcoin
Speaker 1: to about four hundred million dollars per bitcoin. And again,
Speaker 1: this is not speculation, This isn't a dream. This is
Speaker 1: the sixth time we've seen this exact pattern playout over
Speaker 1: the last three hundred years, in an exact repeating process
Speaker 1: over the fifty years, just like the indellistrual revolution, steam engines,
Speaker 1: the rails still electricity, automobile, oil, telecom, and now the
Speaker 1: decentralized revolution. We see it repeating the same time. I'll
Speaker 1: put the slides up here. Their open source, you can
Speaker 1: download them. But I want to just leave you with
Speaker 1: one thing. This is not just a new technology. This
Speaker 1: is a revolution. And you know that because you're here.
Speaker 1: So the question becomes simple, are you going to take
Speaker 1: advantage and help lead this revolution or are you're just
Speaker 1: going to watch it pass by? The choice is yours.