On one hand, there's the Bitcoin Crown, who thinks Bitcoin is
going a lot higher. From here you see the price of
Bitcoin heading. Higher.
How much higher?
A lot. Higher people like Samson Mao
are saying the FOMO hasn't even started yet.
I would. Say retail is still sleeping on
this and anecdotally, most people I know have said, you
know, their friends and family are not reaching out to them yet
to ask about Bitcoin. So we're not even close to peak
retail awareness or a retail mania.
And despite all of the evidence to the contrary, there's still
people out there that say Bitcoin is speculative.
OK. Is Bitcoin a good investment?
No, it's an. It's a speculation which.
One is it. Today we'll look at where we are
and look at the camps and try to decide for yourself which one
would you rather be, a bull or a bear?
This is Dante Coke with Bitcoin. Simply, let's go.
My general framework from the highest level is human beings.
Collectively, we own about $900 trillion worth of stuff.
That's equities, the things behind us, real estate, precious
metals, fine art, all of the things that we own, half of that
we're using as a savings account.
We're owning the portfolio of companies or the art or the
house to actually try and persist wealth into the future.
I think bitcoins going after that market, it's going after a
market of 400 to $500 trillion worth and right now it's 2 1/2
trillion. So I think in purchasing power
terms, Bitcoin can go up 100 to 200 times more from.
Here Bitcoiners like Jack Mahler's are incredibly bullish
and it might be hard to hear that Bitcoin can 100X from here.
Numbers like that are just too big and too hard for the human
mind to comprehend. It is absorbing 9, $100 trillion
worth of assets, but those sorts of numbers are way out there.
But it's even hard to hear people like Samson Mao who
thinks that FOMO hasn't even started yet and people are going
to get triggered when Bitcoin hits 200 KA million chump
change, I think. This is not yet the rally.
I think they'll start waking up at point 2 million or 200,000 a
coin. But I would say retail is still
sleeping on this. And anecdotally, most people I
know have said, you know, their friends and family are not
reaching out to them yet to ask about Bitcoin.
So we're not even close to peak retail awareness or retail
mania. But you know, once you cross
that next cognitive threshold of .2 M, that's what people think,
OK, I'm missing out and I need to get this.
And that's when they start piling in.
We still need to do like a 8X from here to get 1,000,000 so
maybe 2026, but I don't discount the possibility that we can have
a very rapid run up in the next 6 months.
It's a hard concept to wrap your mind around and these numbers
are way out there and outlandish.
But what are the numbers telling you otherwise?
What other data out there is making you positive and bullish?
Since 1971, people's purchasing power has been eroded as the
prices of assets like homes have far outpaced the amount of
income that we have to pay for those homes.
Since 1971. Not one of 100, 152 countries
have kept inflation below 2%. In 1960, housing, healthcare and
education made-up 22% of the average person's budget.
Today that number is 37%. To date this year there have
been 806,000 job cuts announced, 62,000 job cuts in July alone,
which is nearly triple the average that has been from 2021
to 2024. Payroll numbers keep being
revised and cut, showing everybody that the economy is
not as strong as they say that it is.
And if you did managed to keep a job, well, if you are a low wage
earner, well your wage actually rose the least amount of all of
the different segments, actually only 3.7% compared to the
national average, while the top percentile got even more rich.
It's hard for people out there. So when people are talking about
Bitcoin and saying it's speculative flippantly, what
else would you be more bullish on?
I mean, look at this chart. It is the best risk adjusted
return asset class that you can invest your money in, even
better than gold. There's hedge fund managers out
there like James Lavish, who were shifting all of their focus
from gold to Bitcoin and saying that it has an opportunity to
overtake gold as the store of value, the dominant store of
value globally moving forward. You know, I, I want to have
assets that will appreciate as the dollar is devalued as it's
debased. So I do own gold, but my focus
is truly on Bitcoin as you know and that's why I open the, the
Bitcoin opportunity fund. And so all of my excess capital
is, is kind of pointing towards that personally now.
So, but I do have nothing against gold though I do believe
that we are seeing the the beginnings of Bitcoin
demonetizing gold and you know, will gold go to 0?
Absolutely not. It will, it will, I think it
will retain that store value in the, in the global, you know,
universe of investable assets of $900 trillion.
Gold is about 18 right now and Bitcoin is about two.
So, but I do believe that Bitcoins going to catch up to it
and be that ultimate store value for people in the future.
What's not to like? Yet we still have boomers and
doomers who have benefited from the existing system.
Interest rates falling from 17% down to 0%, raising the prices
of assets, raising the prices of stocks and making it more
unaffordable for people like you and me that say that Bitcoin is
just speculative. You're only buying it because
you believe that someone else after you will buy it for more.
Is Bitcoin a good investment? No, it's an.
It's a speculation. Jael, I don't.
I mean, I love you, man, but you're going to get lit up on
the Internet. You need to not say this.
Well, I'm sorry, but but you asked me the question.
I can only give you the answer I have.
So let me explain to you what I mean.
Right. So Bitcoin, as I said earlier,
if you, if you bought Bitcoin 1015 years ago, it's just done
magnificently well. I mean, who wouldn't want that?
I wish I'd done that. I I didn't and still haven't,
right? But that's not the question.
The question is, where does it go from here?
It's at 100,000 or somewhere right?
Now we're talking to 100,000 and when when I was talking to
Dubois in the group chat, it was at 13,000 and look at me.
Yeah, but that was then, this is now.
So where does it go from? Not where's it going?
Getting made fun of jail. And that's what you're not
understanding. And I live with regret and
they're roasting me and they have laser eyes and like you
dumb ass, you're out here podcasting and doing ad reads
when you could have gone all in on Bitcoin and 10 exed it.
Yeah, I think you've confused me with your psychiatrist.
I can't. I can't help you with the fact
you're being made fun of all I can.
All I can tell you is that when you look at Bitcoin, it's a
speculation. So it's not a currency.
It's way too volatile to be a currency.
A currency requires stability. That's why inflation is such a
bad thing, and deflation for that matter.
If you can't rely on a currency having a fairly consistent
value, it doesn't work as a medium exchange for goods and
services. And maybe crypto will get there
at some point, but right now it's not all right.
So it may. Let me finish the thought.
So it's a speculation in the sense that like buying gold,
like buying exotic cars, collector cars or artwork or
anything like that, when you buy crypto, you are saying, I am
hoping and expecting that somebody at some point in the
future will pay me more for this, that I paid for it.
Which side do you agree with? Which side do you want to be on?
Is it just opium with no value that you can do nothing with?
I'd love to hear your thoughts in the comments, but before we
go any further, let's take a second to thank our sponsors.
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You know, you can take 12 words, memorize 12 words, and that's
enough. By the way, for a seed phrase,
that's enough. Entropy.
That's like one atom in the universe.
I mean, to determine. So just memorize your 12 words.
You can go across any border you want.
Next thing you know, you're free.
You have all your wealth. They can strip surge you, anal
probe you, They can do whatever the hell they want.
But at the end of the day, when you cross that border, even if
you're naked, you have all your wealth with you and you can't do
that. There is no other asset on earth
that you can do that with. Couldn't have said it better
myself, George. Bitcoin is the only asset that
you can cross the border naked with and still have your money
on the other side. Might want to get some clothes
when you get over to the other side.
But still, the amount of sovereignty that you're able to
have with Bitcoin is unlike any other asset in the history of
the world. And you can learn to take full
custody and self custody of your Bitcoin by working with a coach
at the bitcoinway.com. Schedule a free 30 minute
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Go to thebitcoinway.com/simply Bitcoin.
There's a flood of new digital dystopia coming out there like
this from Mexico where they say that you'll need a digital ID
and they're making it mandatory. Same kind of news is coming out
of the UK with their Prime Minister saying this is serious,
we need to have digital IDs ASAP.
So not only is the average person getting squeezed for
their money, for their wealth, they're getting and tax with
less benefits coming from governments on the other side,
and they're getting their information constricted and
infringed upon by the governments that are supposed to
be serving us. And then you have this thing
called Bitcoin, which actually protects you from this digital
dystopia with cryptography giving you encryption in the
ability to protect your assets, your rights and your privacy
inherently in the protocol itself.
And it's also helping you rise out of this malaise that you've
been in with your income not growing as fast as the assets
that you live your life. And this network, Bitcoin, is
only getting more powerful as more cyber Hornets like you
across the globe join in. You know, bitcoins, the virus,
it's a freedom virus. It's based on a monetary virus
that's in turn based on a truth virus, you know, and we, we
think of it as a swarm creature because everywhere in the world,
there's someone that's supporting the Bitcoin ecosystem
with their electricity, their computer power, their political
power, their economic power. And it's, it's about as
unstoppable as a swarm of Hornets or unstoppable.
You, you can't shoot a bullet through it.
You know, it's spreading all throughout the world and it just
keeps getting stronger day by day, week by week, month by
month. Which camp do you want to be in?
Bullish or bearish? Is Bitcoin like a life raft or
is it like an anchor taking you to your financial ruin?
I know what I think. Get your tickets if you already
haven't, to come meet the Simply crew down in Dallas, TX from
November 11th through November 13th at the Mining Disrupt
conference. Use the promo code Simply
Bitcoin for 20% off your tickets.
You won't want to miss the largest mining Expo in the
world. It's going to be pretty cool.
Hope you got some value out of today's episode.
If you haven't already subscribed, please do.
We're getting close to 100K and we thank you for all of the
people that have been on the journey with us.
This is Dante Cook with Bitcoin simply.
Happy stacking.