Latest / Simply Bitcoin / Where is Bitcoin Heading Next? | Bitcoin Simply

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Where is Bitcoin Heading Next? | Bitcoin Simply · Simply Bitcoin

• 0:00
  On one hand, there's the Bitcoin Crown, who thinks Bitcoin is
• 0:03
  going a lot higher. From here you see the price of
• 0:05
  Bitcoin heading. Higher.
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  Higher. How much higher?
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  A lot. Higher people like Samson Mao
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  are saying the FOMO hasn't even started yet.
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  I would. Say retail is still sleeping on
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  this and anecdotally, most people I know have said, you
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  know, their friends and family are not reaching out to them yet
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  to ask about Bitcoin. So we're not even close to peak
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  retail awareness or a retail mania.
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  And despite all of the evidence to the contrary, there's still
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  people out there that say Bitcoin is speculative.
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  OK. Is Bitcoin a good investment?
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  No, it's an. It's a speculation which.
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  One is it. Today we'll look at where we are
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  and look at the camps and try to decide for yourself which one
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  would you rather be, a bull or a bear?
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  This is Dante Coke with Bitcoin. Simply, let's go.
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  My general framework from the highest level is human beings.
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  Collectively, we own about $900 trillion worth of stuff.
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  That's equities, the things behind us, real estate, precious
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  metals, fine art, all of the things that we own, half of that
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  we're using as a savings account.
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  We're owning the portfolio of companies or the art or the
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  house to actually try and persist wealth into the future.
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  I think bitcoins going after that market, it's going after a
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  market of 400 to $500 trillion worth and right now it's 2 1/2
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  trillion. So I think in purchasing power
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  terms, Bitcoin can go up 100 to 200 times more from.
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  Here Bitcoiners like Jack Mahler's are incredibly bullish
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  and it might be hard to hear that Bitcoin can 100X from here.
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  Numbers like that are just too big and too hard for the human
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  mind to comprehend. It is absorbing 9, $100 trillion
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  worth of assets, but those sorts of numbers are way out there.
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  But it's even hard to hear people like Samson Mao who
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  thinks that FOMO hasn't even started yet and people are going
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  to get triggered when Bitcoin hits 200 KA million chump
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  change, I think. This is not yet the rally.
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  I think they'll start waking up at point 2 million or 200,000 a
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  coin. But I would say retail is still
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  sleeping on this. And anecdotally, most people I
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  know have said, you know, their friends and family are not
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  reaching out to them yet to ask about Bitcoin.
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  So we're not even close to peak retail awareness or retail
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  mania. But you know, once you cross
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  that next cognitive threshold of .2 M, that's what people think,
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  OK, I'm missing out and I need to get this.
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  And that's when they start piling in.
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  We still need to do like a 8X from here to get 1,000,000 so
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  maybe 2026, but I don't discount the possibility that we can have
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  a very rapid run up in the next 6 months.
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  It's a hard concept to wrap your mind around and these numbers
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  are way out there and outlandish.
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  But what are the numbers telling you otherwise?
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  What other data out there is making you positive and bullish?
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  Since 1971, people's purchasing power has been eroded as the
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  prices of assets like homes have far outpaced the amount of
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  income that we have to pay for those homes.
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  Since 1971. Not one of 100, 152 countries
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  have kept inflation below 2%. In 1960, housing, healthcare and
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  education made-up 22% of the average person's budget.
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  Today that number is 37%. To date this year there have
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  been 806,000 job cuts announced, 62,000 job cuts in July alone,
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  which is nearly triple the average that has been from 2021
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  to 2024. Payroll numbers keep being
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  revised and cut, showing everybody that the economy is
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  not as strong as they say that it is.
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  And if you did managed to keep a job, well, if you are a low wage
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  earner, well your wage actually rose the least amount of all of
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  the different segments, actually only 3.7% compared to the
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  national average, while the top percentile got even more rich.
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  It's hard for people out there. So when people are talking about
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  Bitcoin and saying it's speculative flippantly, what
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  else would you be more bullish on?
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  I mean, look at this chart. It is the best risk adjusted
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  return asset class that you can invest your money in, even
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  better than gold. There's hedge fund managers out
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  there like James Lavish, who were shifting all of their focus
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  from gold to Bitcoin and saying that it has an opportunity to
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  overtake gold as the store of value, the dominant store of
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  value globally moving forward. You know, I, I want to have
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  assets that will appreciate as the dollar is devalued as it's
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  debased. So I do own gold, but my focus
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  is truly on Bitcoin as you know and that's why I open the, the
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  Bitcoin opportunity fund. And so all of my excess capital
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  is, is kind of pointing towards that personally now.
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  So, but I do have nothing against gold though I do believe
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  that we are seeing the the beginnings of Bitcoin
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  demonetizing gold and you know, will gold go to 0?
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  Absolutely not. It will, it will, I think it
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  will retain that store value in the, in the global, you know,
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  universe of investable assets of $900 trillion.
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  Gold is about 18 right now and Bitcoin is about two.
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  So, but I do believe that Bitcoins going to catch up to it
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  and be that ultimate store value for people in the future.
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  What's not to like? Yet we still have boomers and
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  doomers who have benefited from the existing system.
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  Interest rates falling from 17% down to 0%, raising the prices
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  of assets, raising the prices of stocks and making it more
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  unaffordable for people like you and me that say that Bitcoin is
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  just speculative. You're only buying it because
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  you believe that someone else after you will buy it for more.
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  Is Bitcoin a good investment? No, it's an.
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  It's a speculation. Jael, I don't.
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  I mean, I love you, man, but you're going to get lit up on
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  the Internet. You need to not say this.
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  Well, I'm sorry, but but you asked me the question.
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  I can only give you the answer I have.
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  So let me explain to you what I mean.
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  Right. So Bitcoin, as I said earlier,
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  if you, if you bought Bitcoin 1015 years ago, it's just done
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  magnificently well. I mean, who wouldn't want that?
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  I wish I'd done that. I I didn't and still haven't,
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  right? But that's not the question.
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  The question is, where does it go from here?
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  It's at 100,000 or somewhere right?
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  Now we're talking to 100,000 and when when I was talking to
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  Dubois in the group chat, it was at 13,000 and look at me.
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  Yeah, but that was then, this is now.
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  So where does it go from? Not where's it going?
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  Getting made fun of jail. And that's what you're not
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  understanding. And I live with regret and
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  they're roasting me and they have laser eyes and like you
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  dumb ass, you're out here podcasting and doing ad reads
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  when you could have gone all in on Bitcoin and 10 exed it.
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  Yeah, I think you've confused me with your psychiatrist.
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  I can't. I can't help you with the fact
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  you're being made fun of all I can.
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  All I can tell you is that when you look at Bitcoin, it's a
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  speculation. So it's not a currency.
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  It's way too volatile to be a currency.
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  A currency requires stability. That's why inflation is such a
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  bad thing, and deflation for that matter.
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  If you can't rely on a currency having a fairly consistent
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  value, it doesn't work as a medium exchange for goods and
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  services. And maybe crypto will get there
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  at some point, but right now it's not all right.
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  So it may. Let me finish the thought.
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  So it's a speculation in the sense that like buying gold,
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  like buying exotic cars, collector cars or artwork or
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  anything like that, when you buy crypto, you are saying, I am
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  hoping and expecting that somebody at some point in the
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  future will pay me more for this, that I paid for it.
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  Which side do you agree with? Which side do you want to be on?
• 7:38
  Is it just opium with no value that you can do nothing with?
• 7:41
  I'd love to hear your thoughts in the comments, but before we
• 7:43
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• 8:05
  Go to learn dot leaden dot AO slash simply to get started.
• 8:09
  You know, you can take 12 words, memorize 12 words, and that's
• 8:11
  enough. By the way, for a seed phrase,
• 8:13
  that's enough. Entropy.
• 8:15
  That's like one atom in the universe.
• 8:17
  I mean, to determine. So just memorize your 12 words.
• 8:20
  You can go across any border you want.
• 8:22
  Next thing you know, you're free.
• 8:23
  You have all your wealth. They can strip surge you, anal
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  probe you, They can do whatever the hell they want.
• 8:28
  But at the end of the day, when you cross that border, even if
• 8:30
  you're naked, you have all your wealth with you and you can't do
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  that. There is no other asset on earth
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  that you can do that with. Couldn't have said it better
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  myself, George. Bitcoin is the only asset that
• 8:42
  you can cross the border naked with and still have your money
• 8:45
  on the other side. Might want to get some clothes
• 8:47
  when you get over to the other side.
• 8:48
  But still, the amount of sovereignty that you're able to
• 8:51
  have with Bitcoin is unlike any other asset in the history of
• 8:54
  the world. And you can learn to take full
• 8:56
  custody and self custody of your Bitcoin by working with a coach
• 8:59
  at the bitcoinway.com. Schedule a free 30 minute
• 9:02
  consultation with their team to help you learn how to take
• 9:05
  control of your private keys, memorize your 12 words, and be
• 9:08
  fully sovereign over your wealth.
• 9:10
  Go to thebitcoinway.com/simply Bitcoin.
• 9:13
  There's a flood of new digital dystopia coming out there like
• 9:16
  this from Mexico where they say that you'll need a digital ID
• 9:20
  and they're making it mandatory. Same kind of news is coming out
• 9:22
  of the UK with their Prime Minister saying this is serious,
• 9:26
  we need to have digital IDs ASAP.
• 9:28
  So not only is the average person getting squeezed for
• 9:31
  their money, for their wealth, they're getting and tax with
• 9:34
  less benefits coming from governments on the other side,
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  and they're getting their information constricted and
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  infringed upon by the governments that are supposed to
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  be serving us. And then you have this thing
• 9:44
  called Bitcoin, which actually protects you from this digital
• 9:47
  dystopia with cryptography giving you encryption in the
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  ability to protect your assets, your rights and your privacy
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  inherently in the protocol itself.
• 9:56
  And it's also helping you rise out of this malaise that you've
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  been in with your income not growing as fast as the assets
• 10:03
  that you live your life. And this network, Bitcoin, is
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  only getting more powerful as more cyber Hornets like you
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  across the globe join in. You know, bitcoins, the virus,
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  it's a freedom virus. It's based on a monetary virus
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  that's in turn based on a truth virus, you know, and we, we
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  think of it as a swarm creature because everywhere in the world,
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  there's someone that's supporting the Bitcoin ecosystem
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  with their electricity, their computer power, their political
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  power, their economic power. And it's, it's about as
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  unstoppable as a swarm of Hornets or unstoppable.
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  You, you can't shoot a bullet through it.
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  You know, it's spreading all throughout the world and it just
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  keeps getting stronger day by day, week by week, month by
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  month. Which camp do you want to be in?
• 10:46
  Bullish or bearish? Is Bitcoin like a life raft or
• 10:49
  is it like an anchor taking you to your financial ruin?
• 10:52
  I know what I think. Get your tickets if you already
• 10:55
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• 11:00
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  world. It's going to be pretty cool.
• 11:08
  Hope you got some value out of today's episode.
• 11:10
  If you haven't already subscribed, please do.
• 11:13
  We're getting close to 100K and we thank you for all of the
• 11:15
  people that have been on the journey with us.
• 11:17
  This is Dante Cook with Bitcoin simply.
• 11:19
  Happy stacking.