First bitcoin is going to zero zero when it comes out zero Laughter, welcome everyone welcome to uh today's bitcoin cryptocurrency news. I am george that is gon na, be my new intro from now on, because i can't stop laughing at it. Uh welcome uh, happy friday, um it's a good day, it's a good day uh, you know, i've been saying: bitcoin is on a different path, it's, really on a different path. Uh today it decided to move up a little bit more and that's what's happening right now. Bitcoin slowly moves up a little bit more, a little bit more, a little bit more, a little bit more and now we're at 18 600. Actually, we were just at 18 800 and i really thought that yeah 19 000 right around the corner and i really do believe it is around the corner. So we will probably see 19 000 by the end of today um. But then this weekend you know that's. Why i've been uh that's? Why i've been uh? You know putting out polls on twitter because i really think that the way bitcoin is going right now. Uh 20 000 is right around the corner, though i thought 20 000 would come at the end of the year, but maybe it comes a little bit early right. So is there anything that can stop this bull run like us? We could discuss that today. Also there's a lot more bullish news that came out today i mean it's just like non stop bullish news now right.
Everyone uh is bullish on bitcoin right now and um. You know what it's it's a good time, it's a good time to be a holder it's, a good time to still uh be accumulating, it's a good time for all coins. All coins had a good rise up today right, but overall, everyone is feeling pretty darn good about their portfolio today, right and that's uh. That is a very, very good thing, so thanks for tuning guys, as always smash up the like subscribe to the channel and hit that notification bell. If you are new, i usually do my friday streams at 11 a.m, that's pretty consistent, but seeing how how fast bitcoin has been moving. I probably will be doing a lot more live sessions, if not daily once again, because it's definitely getting very, very, very exciting. All right so let's get started thanks for those of you guys that tuned in already uh, 18 594, not too shabby yesterday. When i was streaming, i think it was. You know hovering below 18 000.. It was like 17, 9, 17, 8, 79. 18. You know, and the day before we had a little bit more excitement today, we're having a lot more excitement because there's so much bullet news and there's, actually one that no one's talking about and it's very significant i've been talking about how grayscale and others have been Buying bitcoins behind the scenes now someone else has come out and said: yeah we've been buying a hundred million dollars with the bitcoin per month, but it's not due to the reasons you would think, but it goes to show you there's so much buying going on behind The scenes that we just don't know about.
That is why you know to make bitcoin go up. You know 700 800 points within a day, we're talking about billions of dollars flowing in right, we're, not talking about like a million here there we're talking about billions flowing in, and it takes a lot of buying to do that right and i have a very very Mind blowing statistic that i want to show you guys too, and if you just think about it that way, uh it'll really blow your mind in terms of how little there really is left um and how quickly bitcoin could really run up. It'S really mind boggling, mind blowing um, all right so uh in case you guys don't know i do have my qr code for vegas fun. So if you guys are looking to join me and others in vegas in 2021 uh you can contribute. I had someone else contribute yesterday. I don't know who, but thank you for that. That'S there uh it's just a matter of time before we hit twenty thousand, so i definitely need to start planning for that all right, um, looking at let's start out with cmc. I haven't looked at for a while bts dominance, still pretty high 66 per 1 percent, but i noticed something new today and i'm not associated with cmc at all, but this is a fun thing if you guys want to win some money uh. I just noticed this headline this morning: bitcoin 20, 000 right uh.
So basically it sounds like cmc is having a contest where, if you can predict the right time, bdc hits 20 000. You could win some hard cash first place. Second place. Third place. First place will win two thousand dollars in bdc second place with one fifteen hundred third place, a thousand that's, pretty significant and all all the other users who entered the time slot the winning time slot will share 5500 bdc evenly interesting, interesting, and this is hosted. Of course, by binance you have to use your finance account id, but why not? You know we're all trying to predict when uh 20 000 is going to come. Why not? Why not join in and try to win some money right, so i just noticed that this morning so feel free to do so, um all right. So the biggest news of today is, of course, this some of you guys may have heard of it already the cio, the chief investment officer, not information officer, the chief investment officer of blackrock um, says that bitcoin will take a significant part away from gold going forward That that's, that says a lot. Okay, that says a lot and who is blackrock. If you don't know who blackrock is um they're american investment company based out of new york founded in 1988, so they haven't been around for a while, but they are the world's largest asset manager with 7.4 trillion in assets under management, and that was the end of 2019 right we're kind of close to end of 2020 so that that figure is probably higher than 7.
4 trillion, but think about that 7.4 trillion dollars of asset under mansion for one company alone. That kind of shows you how much money there really is out there. Imagine just a tiny fraction of that right, even if you took what is it 10 10 of that would be 740 billion. That is twice as big as a total market cap of all bitcoin right, so imagine imagine just a few percentage of that moving away and moving to go into bitcoin. That is huge that's just from one firm, okay, there's a lot more firms like this just kind of shows you how small and insignificant really bitcoin is right now and what the potential could be uh in the future, but anyways uh going back to this story. This is a big endorsement. Okay, the the main guy who's in charge of investments at the largest asset management firm in the world is now saying: bitcoin could replace gold. I don't know how how you get a larger endorsement than that right i mean here's. This quote uh it's hard to say it is worth the price it's trading at today, but do i think, it's adorable mechanism that do, i think, will take place of gold to a large extent yeah. I do because it's much more functional than passing a bar of gold around well duh. This is the thing that we've been saying for a while to gold bugs to peter shift to p to everyone right like how easy is it to just carry around a bar of gold right and how easy is it to actually buy something with a bar of Gold right, you want to buy a subway sandwich where you go shave some gold from your gold bar off.
I mean it's, just it's, just it's, not very useful, right, it's, just something that uh. You know you can argue to store value. Maybe you could melt it down for watches or jewelry, but that's it bitcoin is much more useful. You could transfer a lot more of it um you could carry around a billion dollars worth of bitcoin in your ledger in your pocket and no one will know. Try to haul around a billion dollars worth of uh gold around right. I mean not that any of us will ever have a billion dollars. I don't think um, but well maybe i shouldn't say that maybe but uh, but you know just a force right of course, so um. This is a big endorsement, big endorsement and he's, not just saying a small extent. I mean really he's saying a large extent. I think will take place of gold to a large extent. So what does that mean right? Gold has 10 trillion market cap if it's 10 of gold that's 1 trillion already right, but what? If it's, 20, 30 50? Okay, large um, you know maybe it's 50 right, that's 5 trillion market cap right, look at where bitcoin is now like 300, something billion that's a long way to go long way to go. So this obviously is very, very, very bullish, a huge endorsement from probably the one of the most credible financial guys in the world. So yeah i've been telling you guys about billionaires and hedge funds and companies right they're, all coming out in 2020, especially now, especially now and they're, all going bullish on bitcoin they're all bullish on bitcoin, because they finally realize the true potential it's, a true potential.
Um of bitcoin right why it was created because distrust in banks and central banks and governments to do the right thing, distrust in fiat right, um and that that is coming true. That is why all these rich people, the large money, is now getting involved with bitcoin it's. Exactly why they're getting involved with bitcoin they're they're, already billionaires, okay they're not really expecting their billions to turn trillions but they're trying to protect their money. They don't like seeing their fiat messed around with and they're turning to alternatives and now they're turned into bitcoin. That is huge, huge all right, um ray dalio. He made news recently. I thought i even talked about him yesterday: he's, not a 100 bitcoin bull. Okay. In fact he says he doesn't like bitcoin, but if you look at what his story is right, it's the same story as people buying bitcoin, because he is telling people not to own bonds or cash right, uh, to quote, in my opinion, don't bond don't own cash, Because they're producing a lot of debt and producing a lot of money to fund it and so that's changing nature capital flows. Cash is trash right. This is why i think radalia will turn to bitcoin and it'll be another billionaire. That gives a big endorsement bitcoin because that's, what all these guys are thinking that cash is going to be trash right, even though we all need it right now, but still it's going to be devalued, devalue, do value devalued and who who's to say you know what's Gon na happen in five to ten years, based on what the governments around the world are doing now right.
That is why these guys are buying bitcoin, so very positive, very positive, indeed um all right. So i think yesterday, someone yesterday or a day before uh someone asked what happened to tom lee and it just so happens. Tom lee did an interview on yahoo finance and i found this. This is uh. This is a good watch uh. Those of you guys. Yes, i will see you guys even billionaires, want to build trillionaires. I guess that's, true, all right uh. So i downloaded this it's about a minute. Long, listen to what tom lee has to say the interesting year because number one uh, you know we know that bitcoin as a digital asset or internet money, it's it's really thrives off network value, so the more people who adopt it, the more parabolically the price rises. We'Ve seen a pretty substantial increase in engagement this year and i've been pretty surprised because it is institutional um. We always thought u.s would be sort of the most important market to watch for adoption and it's really taking off here uh. Fortunately, we are one of the few firms that sort of sits between institutions and digital assets, so we've seen a lot of interest in a lot of engagement. The happening happened this year, which of course historically is good for price, because you're reducing supply. But history also says that the year that follows the happenings is much more important. So i think if, if bitcoin was the best performing asset last year, 2019 it's, so as you can see, tom lee is very, very bullish on bitcoin once again right, uh best performing asset in 2019, which is hard to believe, but it is uh best performing asset In 2021 on 2020, of course, it is it's up like 170 or something right, and it continues to inch higher and he's telling people that 2021.
You know the year after the having event is usually the most bullish right telling people to prepare for fireworks in 2021. So tom lee is doing his part to generate fomo that's for sure he's coming back in full swing, and i like how he's subtly like mentioned, that his firm is in between institutional investors and and uh brokerages, whatever his firm is fun strat uh i like that. Subtleness he just like slid it in there like really secretly um or smoothly, i should say but anyways uh yeah. So you know i i've talked about after 18, 000 you're going to see a lot more headlines and you're, seeing it everywhere. Yahoo, finance, cnbc, cnn fox news, bloomberg, newsweek, right market watch. Everyone is starting to talk about bitcoin, it can't be ignored at this point. It really can't and uh. The funny thing is i've been showing you guys. If you look up google trends, uh there's, not that much retail fomo. Yet this is just the beginning. The very very, very beginning, what's happening right now. Why bitcoins going up is because all the big money, the smart money, they're all buying ahead of time, preparing for the worst, but retail fomo really didn't start yet so imagine once it starts in 2021. What it's gon na be like it'll, be like 2017, probably times two times three times ten, because you have a perfect storm where everyone is looking at and talking about bitcoin.
So – and i i mentioned, i begin a video there's, an interesting statistic and i'm gon na show you that, and once you just kind of figure that out in the back of your mind your mind, will be blown it's, it's, really really fascinating, uh. Okay. This also is very, very fascinating, so you know i've been talking about how there's a lot of buying behind the scenes right that that we just don't hear about so winning poker network which operates a number of online poker sites said it has been forced to buy Millions of bitcoin a day to meet demands of exiting players, as reported by bloomberg on thursday, 90 to 95 percent of winning poker payouts are in bitcoin because of the recent price, the price rise we are constantly having to go out and buy. Bitcoin lots lots more than we ever had to before, so think about it, they're buying millions of bitcoins a day right. So this is another reason, roughly a hundred billion per month. Okay, so think about it. They'Re buying a hundred a hundred million per month, while grayscale is buying like a billion dollars per month, and then everyone else is buying tens to hundreds of millions per month right. This is why there's there's there's there's just no circulating there's new, no bitcoin there's. No new bitcoin circulating on the market. Everything that the miners are mining is gone instantly, they're gone even before their mine right.
I mean this. This is what i'm talking about right, who who would have thought like poker right like the or the the poker uh sites? Right are actually needing to buy bitcoin because all the players want to cash out in bitcoin right that that's wild that's, something you just don't think about right, but it's happening it's happening um, so yeah there's a lot a lot of buying going on behind the scenes. We just don't know about um again, contributes this all adds up right. This all adds up and is why bitcoin is so so steady little by little by little by little, by little by little and just inching higher inching higher inching higher and there we go um. Okay, this is funny. This is really funny. I think a lot of you guys could relate to this so softbank, which is a big investment company out of uh japan. The ceo says he doesn't understand bitcoin, and it was distracting my focus on my own business. This. This look, i know you guys know this look right, so he invested 200 million in bitcoin in the past right and then he was forced to check prices all the time and then it becomes so much a distraction. He'S, like i can't, do this i'm being too distracted. He sold uh losing 130 million. Had he kept that at 200 million is probably a billion dollars now, because i remember he bought it very early on, but this is the thing that we all struggle with right.
When you're in crypto you're on your app like constantly right like every minute or two and you're checking your prices, so this even affects the most wealthiest people. So he couldn't stand it because he was checking his bitcoin price so much that it was affecting how he works. I just find this really really really funny really funny, and this picture is perfect. Right i'm sure he's gon na buy back in sooner or later, but this is just really funny and jaymar says i haven't slept in days. Uh get some sleep, get some sleep, um yeah. I think we can all relate to that. So, at the end of the day, it doesn't matter how rich you are you're, still human. You still fall for fomo. I used to say that a lot right fomo is not just with average joes with retail investors almost with everyone. Okay, it could be billionaires, it could be hedge funds right, it could be family offices, it could be publicly traded companies but they're all run by humans right. Just because they're ultra rich doesn't mean they can't fall for fomo uh and in reverse too they they fall for the same emotional thing that everyone else does so really funny all right: anyways uh, where ccnbc is talking about bitcoin, where visa sees crypto going with bitcoin Near all time, high uh, you know i'll tell you where visa and mastercard and american express would they see it. They'Re saying that they're missing a piece of pie, that's what they're saying right now i guarantee that they're seeing banks getting involved now and they're, seeing paypal and square which are also credit card processing companies, they're, seeing they're getting involved with bitcoin and crypto right that's eating Away at visa mastercards transactions, so i'll guarantee you they're trying hard right now to think how they can incorporate this.
I mean it's really hard, because you, you have credit cards right. It'S, not like you can just like enable bitcoin on there um. It has to be something digital right, so maybe they work with uh companies uh. Maybe they work with apple with apple pay or something or samsung pay or something, and they incorporate in and into bitcoin somehow right, but i guarantee you they're all they're all worried right now, the higher the bitcoin goes, uh, the more worried, they're gon na become because They'Re, like okay, we need to get on board and it's really hard for them to do so. At this point, so yeah yeah, they're, probably struggling right now, all right. So a couple couple more things. This is one of the. This is the mind blowing thing that i want to share with you guys, uh bitcoin price double since having that's not a surprise, with just 3.4 million bitcoin left for buyers right um. I don't think people realize that. So if you look at bitcoin, 18.5 million has been mine right in total 21 million. Now i forgot the exact amount, but like there's, a very little amount of that that is set to span like a course of 140 years, but i believe, like 95 of it, can be mined and will be mined within the next 10 years. Right. But even you know without thinking about that, just think about this right, so there's only there's, only 3.
4 million bitcoin left to be mined. I just mentioned how every company right now is basically buying up every single bitcoin, that's being mined there's, no new, circulating, bitcoin and just to kind of show you you know just do a calculation right, so i just did 18 i'm just gon na bring up the Calculator right now i don't have online calculator, so you could calculate on your own computer, eighteen thousand dollars right or no i'll just do nineteen thousand, because we're closer to 19 000 and then we times that by 34 million bitcoin or 3.4 million bitcoin right. That only comes out to be about 65 billion dollars, so there's a lot of people with 65 billion dollars that theoretically, if they were trying to initiate a buy, they would put in a 65 billion dollar buy and technically they could buy 3.4 million bitcoin. Of course that's not how it works right, because if anyone actually did that the price will rise up astronomically, but just think about that right, let's just say: it's it's, fixed it's out there you could buy it 65 billion to buy the remaining amount of bitcoin left Right in its entirety, in its existence, there will be no more after 21 million right, 65 billion that's a lot of money, but someone like jeff bezos that's, not even um, a third yeah yeah that's, not even a third of his uh, his net wealth. You know that kind of shows you how much money is out there right.
I just talked about blackrock having 7.4 trillion in assets uh under management just themselves alone. You know an entire world. There are trillions upon trillions upon trillions upon trillions of dollars out there and it kind of shows you how small bitcoin is and when everyone wants a piece of the pie which is coming. That is why bitcoin has a really good shot to go up to a hundred thousand two hundred thousand three hundred thousand, and many people are predicting, maybe possibly to even a million someday because there's just not that many there's really really really really not that many circulating Out there right and when you have all these big players with so much money trying to grab a small piece of it, you know what's going to happen. The prices go, go up astronomically and that's what we're seeing right now right. So i mean that that's, something that i i've just never really computed i'm, like i know there's 3.4 million left right, but it doesn't take that much money to buy it but think about it. When everyone's trying to get a piece, it's gon na cause that up it's gon na cause that price to go up so high, so so high all right, um. Lastly, lastly uh i want to bring up and check up on our good friend peter schiff. I want to see if he's doing, okay, because i'm concerned for his well being uh, look at his last few tweets.
He posted one two hours ago and 143 minutes ago, uh he's, starting to shift his you get a shift. Uh shift his negative bias against bitcoin, because there's really nothing else. You could say at this point right, but look at this uh, though this article is negative on bitcoin. The the fox business interviewed feature is extremely positive, speaking very favorably about bitcoin and seriously discussing the possibility of bitcoin trading at 300 000 by next year. Doesn'T that sound, very bullish like peter is actually turning bullish on bitcoin right. What was the last time he actually phrased the article like that right and why would he even post a article right, um and then talk about how yeah you know, there's other people speaking favorably about it and how it's going to 300, he doesn't he used to. Would say like look at this guy he's, so delusional thinking, bitcoin deluded three hundred thousand bitcoins actually go to zero. Like my intro here, first bitcoin is going to zero zero when it comes out zero right like that. That was the kind of stance that peter schiff had, but now he's, starting to turn right, he's starting to turn and then one from three 43 minutes ago. He'S like okay. He talks about the the tulip craze right, which happened 400 years ago, come on 400 years ago, like okay, i i came to compute 400 years ago. Okay, i don't think any of us will um but he's saying: okay, do you think 400 years from now right? Well, bitcoin replaced the two of uh bulbs as the greatest mania ever.
Of course, you know that the pool is going to say no, because most of his followers are bitcoiners right, but here's the interesting thing and someone uh someone – i saw someone say this well. This is funny uh it's, not funny getting old because i'm getting old too, and i hate it, but it's uh, but you know that's that's, uh relevant, but uh. I saw someone in here make a comments like okay. Why are you talking about 400 years from now? None of us will be here, 400 years from now right, if you didn't like bitcoin. Why don't, you just say well bitcoin in two years, five years, 10 years 20 years be known as the greatest mania ever. Why are you saying 400 years? Who cares what happened to 400 years? Maybe the earth explodes in 400 years? Maybe aliens will invade maybe we'll all be living on mars. You know there's so much. That could happen 400 years. You know, of course, no one's gon na care right um. But again you know i'm starting to sense that he's turning around right i've speculated this. Before he started talking about his son buying bitcoin right, he asked people to donate to his son um. You know i'm thinking he's turning around and he's going to say. Okay, i had a candid conversation with my son and he convinced me, even though he has done a million debates with anthony poppliano and they have done nothing, but i think it's, just he can't.
He can't ignore it anymore right, like what else can you say you can't say it's going to zero because it's not some of the guys like blackrock, cio and others, um they're, all arguably smarter than peter schiff and they're all turning to bitcoin they're, all saying good Things about bitcoin so who do you listen to right and then speaking of gold? Just like that picture, i showed you bitcoin is still i mean gold is still at 1900 uh. You know so it's barely barely above its all time, high and that's. You know, within the 11 years of history, had peter just done what anthony pompiano suggested just put in like two percent or three percent or five percent of his net assets into bitcoin in that last 11 years or the last five years or since 2017. He would have probably gained hundreds of millions of dollars, if not billions had he just put a small amount of his net worth into bitcoin, but he refuses to do so and uh and he still hasn't turned a leaf yet, but i think he will soon. I think he will soon all right. Um bitcoin is climbing back up 18 7. I think it'll be at 18 8 soon. I did notice that yeah. This did come down from 18 8 because some of the shorter indicators were sky high and it did need to come down. For example, you look at a 15 minute. You can see stochastic and rsi topped out, but you can see the 15 minute.
Is you know? It'S turning turning around right today, obviously blackrock's endorsement, i think, opened a lot of people's eyes when the the cio, the chief investment officer of the biggest asset management firm in the world, tells you that bitcoin will take a large chunk away from gold. I think people listen right. A lot of people listen, so i think that's, what kind of drove bitcoin up a little more today and it will continue to drive more um and we're, just going to hear more stories like that, as as we move closer and closer to 20, 000., so uh. So is anything: stopping this train is anything stopping this bull run. I don't think so i don't think anything is stopping this bull run um yeah. So let me uh. Let me turn to you guys. I said a lot. Let'S do uh let's do q a it. Is smoking hot in my room, your city doesn't have a lambo dealer. Well, i guess yeah. I guess we're around where i live. I don't even know where the lambo dealership is but i'm sure you can order it and someone will deliver it to you. No problem. Lambo or tesla truck cyber truck, i put my 100 down right when it comes out, i'll probably buy it um dd. Thank you for that and i missed someone. Else'S super chat, a blade runner. I think it was you uh yeah there we go. Please no xrp ad today! Well, i you know a lot of people like to hear about xrp and it's important message: um he does own some bdc and just fronting, probably probably uh no do not get a new eevee hummer.
I would not trust that thing. I would not uh one for wife changing wealth. Well, i mean arguably, for some people already happened. I know some people that have talked to me have been dollar costs, averaging all this time since 2017. To now some have been dollar cost averaging since 3 800. Earlier this year and they have attained life, changing wealth or life, changing wealth or whatever you're after right, so um yeah. So it has happened for many people already rob don't worry. I know there's a lot of xrp fans um. I do have an important message. I'Ll show at the end of the stream, if you have 50k right now, what do you put on btc um, not financial advice, but yes, yes, uh. I have put a significant amount in recently um and i regret not doing a lot more. You know when i was at 4, 000. 5 000 right, but it was iffy time. I was scared like a lot of people. I had what i had before, but man i should have stuck to my roots like man. This is the bottom i'm gon na go all in. I really regret that, but i so right now, uh i'm, seeing what's happening with bitcoin what's going on with bitcoin, is not like 2017.. The price rise is not driven by fomo it's, not driven by fomo. At all, you could argue that there is no fomo with bitcoin right now. Among retail investors.
You could argue that fomo is with the big money: the big money, the hedge funds, whales, the institutional investors, um they're, full mowing right now, but retail investors have not format at all right, so it's very, very different right now versus 2017. You could definitely hear you could definitely feel it and see it right now. What'S going on is the smart money moving in and they all realize there's not that much left there really isn't right, there's, only 3.4 million to be produced and to be mined and whatever's out there in circulation. It'S. Not that number you know according this is 18.5 million circuit supply. No, approximately 30 percent of that is lost due to people's computers breaking down, they forgot their keys or whatever satoshi's own stash. Hasn'T moved right. So if you look at that, the circular supply of bitcoin is actually really really low, much lower than 18.5 million, but even if it was at 185 million think about it 18.5 million to be distributed around the world 8 billion that's. Nothing and you know that it's not going to be distributed around 8 billion it's more like the ultra rich, is wanting every single piece of it right. Grayscale alone has over 500 000 bitcoin right so there's, just not that much so anyways go going back to my point, so i i have been putting a lot more money into bitcoin um because i i do believe i do believe we're in uh we're in a Very we're, in a very i would say, like the start of something like bitcoin, is turning the corner about to really become mainstream, like i feel that's coming.
But besides the fact in 2021, i do think there's a huge prize rise, but i think we're really turning the corner in terms of everything that we were saying, 2017, what we wanted bitcoin to become it is going to come in 2021 right. I i honestly feel that way. I i just don't think anything can stop this train anymore. This is legit legit. You have congress people that's coming out, saying that they're going to be endorsing bitcoin because they believe in it right. You have public trade companies. You have hedge funds right, you have basically countries and you have even like uh, you have um, you know like the the g7, not g7 g20. You know you have all these organizations. Everyone is talking about bitcoin, it's, just very, very, very different. Of course, adoption. You know uh with squirt and paypal, and you know i covered like visa. You know they're all getting into it too right. This is a very different night. Everything that we wanted. We were hoping for in 2017. You know that we've been talking about three years later. In 2020 is starting to happen in 2021, it's going to go into full effect, that's. How i feel so i think 2021 is really going to be a turning point for bitcoin. Do you think there will be a liquidity grab, sell the news event for big guys to get more, there could be, there could be um, but i don't think the volatility is going to be the same as it was in 2017.
2018.. You know uh was it giancarlo? I forgot his first name, but he was in charge of the cftc in 2017.. The bitcoin was going up so fast. They didn't know anything about it. The government i'm talking about and trump and everyone else is like find a way to kill it, so they introduced bitcoin futures and that killed the market because it was it was in a bubble in 2017, there was nothing everything i'm talking about now. Didn'T happen in 2017, it was purely driven by retail, fomo right, but now right and afterwards he actually admitted that's the reason why they approved bitcoin futures to kill bitcoin right. But because of that, because we know it was driven purely on fomo um there's, a big potential of things coming down at the time we didn't want to believe it right and even i was oblivious and i just ignored the fact that yeah, it was probably gon Na go down in a big way, but i was hoping that would come up faster, but it carried out this four year cycle just like it did previously right and we're coming to the end of that, but anyways. What we're seeing now is more organic we're, not seeing as much pumps as before right, remember, 2017, those of you guys that's been around since then um. We had daily climbs of a thousand points. 1500 points, 3, 000 points and all coins were exploding because icos and ethereum was exploding at that time right.
There was just a lot of money all over place and we had daily like or weekly 30 40 drops, but then we would just recover really fast right. We'Re not seeing that we're seeing slow and steady growth right now slow and steady, slow and steady, slow, steady, so it's very, very different, so uh with that said, can we see a big correction? Can we see liquidity grab by the big people? We could? I just don't see it: they don't operate the same way right when you have someone that's buying a hundred million dollars with a bitcoin as a reserve, currency they're not buying it to swing trade they're, not buying it to okay, i'm going to sell. You know when i hit 20 profit that's, not what they're doing these guys are buying a reserve currency, because they're trying to hedge against uh inflation right so can they possibly do it yeah? But i i just don't see that's their true intent right, but uh with that said, if bitcoin hits 20 000 in the near future, let's say this weekend: right um there could be a possibility of some kind of correction or consolidation period or whatever right, and we Could come down from there, but you know i was just explaining this. You know at bitcoin, you know let's say it comes down. 3 000 points from 20, 000, almost immediately let's, say overnight. It goes down 3 000 right. That would bring it down to 17 000 and where were we a day ago or two days ago, we were in 17 000 right.
So if it comes down 3 000 points we're back to where we were two days ago, uh let's say it falls down more dramatically than that. Let'S say it goes down. 6 000 points right. That would bring us down to 14 000 right. Where were we 14 000., we hit 14 000 here, the start of november, so that was only like two weeks ago, two and a half weeks ago. So even if it goes to twenty thousand falls, is 6 000 right. That only brings us back less than a month and then we will continue forward right. So at this point it's like, why are you worried right if it falls that dramatically? If it falls to fourteen thousand thirteen thousand twelve thousand uh ten thousand, it would be the biggest gift in my eyes right. I would be going heavier into bitcoin if that happened right. So if it happens great but like right now that's. Why i'm not worried at all it hits 20 000 comes down, so what you know it's just bringing us back to a week ago or a few days ago right, but if it doesn't come down, if let's say it halts, that would be a good thing because It takes a breather and guess what happens if bitcoin takes a breather money flows into the altcoin, so if bitcoin hits 20 000 and it stops and just hovers for a little bit, i do expect the all coins to be moving up in a big, big, big Way, big way right, we've been seeing it a little bit this past week and last week, but i think it's going to happen in a big way and regardless, if it doesn't uh.
Eventually, all coins will come up and ride the coattails in bitcoin uh, but let's say you know. The third scenario: is we break 20? 000? It just it just you know hell breaks loose and we just shoot up from there right. That could happen too, because that's when fomo will start hitting – and maybe we stay here for a little bit and we jump up to 22 24 28 really quickly. We could, and we could see more volatilities done, because people are just going nutty for it right. That could happen too so eat this at 512. Is it let's see ethan? Finally, moving uh, seven percent today versus bitcoins, three percent, so good, but last seven days still trailing still trailing Music. You keep ignoring my messages but you're. Looking at volume, it's 90 percent usd how's, this organic growth. Well, you know usdt is institutional money coming in right. You do know that right so, regardless of his usdt or bitcoin futures or grayscale, buying it's money flowing into the market, and i don't agree with you, your your 90 assessment that's, not true at all mobile tech support, appreciate that uh yeah i've been trying to review All the cars – i definitely do like the x5 better than the the new q7. They just didn't do enough on a q7, so the x5 is definitely superior. What do you think about gold? I don't own any. I don't, i just think it's too slow and i just don't – i just don't own any i'd.
Much rather buy bitcoin than gold let's. Just put it that way: i'd much rather buy stocks than gold; i'd much rather buy anything than gold. Honestly, how do you feel about china? Only 64 percent of btc mining think they could shut it down if they wanted to shut it down, it would have been shut down already, but they're not stupid. They wouldn't do that, because the other countries that are mining and including a lot of those chinese companies that diversified outside they would just take over so it would be stupid, they'd rather tax it they'd, rather try to uh do what they can to limit it. But they're not gon na shut it down. That would be the the most idiotic thing you know if they know it's in their backyard, why would they not want it to continue, especially if there's a good chance that bitcoin goes much higher and becomes a dominant digital currency? Why would they not want to control 64 of it uh? That would be stupid, so if they wanted to, they would have shut it down a long time ago. Why don't you be honest, your abuser and tell them the earth is flat. Come on leon come on. Come on now, yeah there's, so much money to be made. I mean it's the same argument: 800 people watching today wow a lot of people tuning in smash up the likes, guys smash the like subscribe to the channel and hit that notification bell.
The reason why bitcoin won't be shut down is because governments would rather tax it. Governments need money, they're all in debt right. They all need ways to make money so there's no way they would shut down bitcoin or try to because first of all, it's too hard. It'S not worth their time and second of all, they would much rather tax the gains that people are making than try to shut it down. Why would you? Why would you do that right, like you rather just tax, it and bitcoin goes to the moon, and everyone becomes millionaires, then great. They get to tax 30 or 4, 30 or 40 of those gains right, it's a win win for them, uh there's! No way to go, try to shut it down, vr your your thing is not working it's 823 to be exact hello for norway. Welcome action mike in in europe there's some countries that tax way more than that way more, like we're talking about fifty to seventy percent. So, Music? Okay, if you believe it's 89 in person and you don't, believe in legit money that's your opinion, but no that's, not accurate that's. Another thing low, ruler, that's right: everyone is rich. If everyone's rich on bitcoin, they go, spend right. Lambo sales will go through the roof. Tesla ferrari sales will go through the roof right. People use that money for something they don't just hoard it so uh that's exactly right. Cod daily said i bought some gold in 2012 and still have it.
If i only bought bitcoin instead, yeah just like peter schiff, i don't know how much you bought it doesn't matter, because even if you bought a hundred dollars worth of bitcoin back in 2012, that would probably be over a million dollars today. So i guess use as uh take that as a life lesson don't bet against bitcoin um. What are your thoughts on xrp and stuller? Do you believe it can be bullish? Well, i do have thoughts. I have an important message about xrp at the end of the stream, but stellar is more the same: um xrp, surprisingly, it's actually deflationary, while stellar is inflationary. Stellar i mean it's founded by same guy and stuller basically was copied from xrp. Due to you know he uh jeff mccaleb got kicked out or he left or whatever, but he kind of retuned. It re kind of did a few things, but he made an inflationary and stellar foundation does own a huge chunk of all the exoms out there. Just like ripple owns a huge chunk of xrp, so um i don't know honestly. I used to be pretty bullish on both now i'm less bullish on them. I just think there's better buys let's just put it that way: there's better buys than extra pnx on arnie that's, not true and that's, not a word. How much do you invest in bitcoin as much as you could afford to lose it doesn't matter? How sure you are or how sure i am if you go, invest uh make sure you only invest what you can afford to lose.
So, basically, if it went to zero the next day, you're okay never go more than than what you could afford to lose right. Don'T put on credit cards don't, take a loan out. Don'T leverage, don't margin, none of that, because you'll go get wrecked that way so it's, whatever you can afford to lose. The best thing is dollar cost average uh. Why is eth still not closer to all time? High because there's so much competition, there's so much back in 2017, you know ico craze. Everything was based on eth right. They start smart contracts, everyone's trying to catch up nowadays, there's a dozen other companies that have smart contracts and arguably better blockchains. So the only thing really carrying ethereum right now is d5 d5 took off in a big way. No one expected d5 to take off this big and it did and what's really helping. That is because they're all based on ethereum they're running on ethereum right, but once d5 starts moving off and going to other protocols. I don't know how that's gon na affect it, but yesterday i found out grayscale owns 1.2 billion dollars worth of ethereum in their trust. So that's a lot, so great skill obviously believes in thorium a lot and keeps buying throne too, or at least their investors do so that could help it in a big way. What you could afford to john says, what you could afford is enough of investment to make you rich if you're, poor, no that's, not true that's, not true, it always starts somewhere whatever we can afford now, even if you're, not poor, right, it's still considered poor versus The richer, the richest standards right.
If we can invest a hundred dollars today, uh that's, nothing compared to the rich that can invest a hundred thousand, a million dollars 10 million a billion dollars right, it's, nothing, but still, if you play your cards right right and you're investing you're, not wasting that hundred Dollars let's say to go out to eat or whatever right now, that's a bad example because no one's going out to eat, but whatever you get my point right rather: okay, here's a good point. Rather than spend 400 500 on a new ps5 which all the young people are going crazy for right, you put that money you put into bitcoin if bitcoin goes up tenfold, that 500 becomes 5 000 and then they could use that 5 000 to do something else. They can invest it or whatever uh they could continue to hold their bitcoin or they could buy all coins whatever right, but at least it's going in the right direction versus you have a ps5 in five years, that's just probably sitting there and not doing much. You know that's my point right, you have to start somewhere and it doesn't mean you're just making a one time: investment that that's that's it right most, people that invest continue to put more and more in over time and it builds and that's how you build wealth. You accumulate interest and all that stuff right, not that i'm, a financial advisor but um, but these are things that i wish i've known earlier in my 20s, you know for me: i've always been somewhat an entrepreneur, so i always figured out how to make money pretty Quickly, so for me i never save money and it's, arguably that i still don't save money.
I do, but not as much as i should, but i've always been a type where i thought i should just make money more money than what i spend. But with that logic, what ends up happening is you always spend more and then you have to figure out and make more eventually you can't make more right um, but had i invested a lot earlier in my 20s, some of the i used to be into cars. A lot like i switched cars like every six months and i'd, not done that, put all that money into even stocks or even into um, even the bonds or whatever right. I would be much better off now so it's, one of those things when you're young you don't, really care. You just want to make a quick buck. You want to make a million bucks, otherwise you think it's too hard too lazy whatever. But once you get older, you realize it's a stupid way of thinking about it, crypto phil. If that's really the case, then then you you've trained them. Well, you train them. Well, um or maybe he hasn't, he doesn't know what a playstation is. Don'T worry that could be it too v chain and chain link uh they're, both projects, i really like chain link, got associated with d5, but honestly, they're they're involved with everything they're oracle play. If you need reliable data, that can't be hacked right, especially d5 projects needed, but other companies need it too chain link that's why they are as high as they are they've cooled off since going up so sky high, but look at them they're sitting at number.
Five. On cmc, i did not believe that chain link could move up this high this fast. I honestly did not see that coming. I thought maybe they could be in the top 20 and hover there for a while right, but did a shot up. That shows how big chain link is um v chain i'm waiting for that moment to happen. V chain is very involved with every big company in china, so when china really goes all gung ho about crypto, i think veto move up in a big way. I'M surprised more people are not in v chain right now. They should be moving up, they should be in the top 20 at least, and really they will be in the top 10 eventually, but it's just going to take some time. I think a lot of people are sleeping on v chain at this point. Do you think if bitcoin gets rejected either will fi fly uh not rejected, but you know i've been noting that bitcoin could do one of three things right. I think at 20 000 there will be something going on, but if it doesn't let's say it just hovers at 20, 000 just takes a breather yeah. I think all coins will start going up in a big way. I think we're starting to see that already that all coins are starting to move once again right um, but i do believe at 20 000, if bitcoin just hovers here for a little bit um.
I think also really start moving and it's, arguably that even if bitcoin comes down right, maybe back down a little bit there are. The altcoins can also benefit from that, because people are taking their money and profits and putting into all coins. So i think i think that that's coming around the corner now, if you're wondering if eath, will double to a thousand within this period, no it's, not, i don't, think so. Um i just got done explaining. Ethan is weaker now versus 2017 because of the competition. Any guess why ada is not on coinbase, probably because coinbase fears that it's a security token cardano had a very strange pre sale in ico that happened privately in japan. Okay, so not a lot of people talk about it, um people just kind of glanced over it and assumed that you know charles just kind of was a good citizen and and just kind of brought upon the world. No, they had they had a private sale at the ico, a very private one in japan, so uh, because of that, maybe maybe um coinbase is fearing that it's, a security i don't know that's what i'm guessing nathan i mentioned about knowles quite a bit recently um. The team has been in contact with me telling me about what their progress is and they are making good progress, they're, not giving by any means, and they are planning a marketing push, but unfortunately they have fallen so low.
They become a what i consider ultra low cap and ultra low caps are not getting any love right now, because people are paying attention and they have more trust in bitcoin and the big caps and the mid caps, but the smaller caps and ultra small caps they're. Having a really hard time moving so hopefully nulls can do some good marketing and also when all coin season really hits. I think a lot of these good projects we'll start coming up again ones that that we've uh we've known for years right um, i think it's, just we got ta wait for it david. That is exactly when you put your money in bitcoin. The longer you sit on it, the more you make all right, all the bitcoin billionaires from the past. The early people like roger veren, guys, like those guys and max kaiser they didn't, get to bitcoin billionaires from day trading bitcoin. All they did was buy early and sit on it, that's it right and a lot of people that are multi millionaires from bitcoin same thing. All they did was buy and sit on it. Even the bitcoiner, even the newly minted bitcoin millionaires, what they did was buy, buy, buy, buy, buy and hold they didn't try to swing trade or day trade to a million dollars, maybe i'm sure some people have but most people. The name of the game is to buy and hold bitcoin that's how you make the most from it hyper waves.
No, i don't think so. I don't hear anyone talk about tone anymore, but i mean him and his buddy. Unfortunately, whoever um that brought up hyperwave. You know they they kept saying. Let'S go go back down to a thousand dollar fifteen hundred dollars. Even last time. I checked tone. He said it was not gon na go below ten thousand. I don't know what else he said recently. I don't follow him anymore um. So i think hype hyperwave is kinda out the window unless you know, unless you're this guy, you heard it here. First bitcoin is going to zero zero when it comes out zero. That clip just kills me. I can't stop laughing at that. If you watch that guy, i don't know his name, but if you search bitcoin is going to zero on on uh youtube, that guy has such a potty mouth, he swears left and right and – and he keeps just dissing bitcoin, but i think is the audience. Members. No one cheers or agrees with them they're just kind of standing there listening like. No one actually cares about what he's saying he just thinks if he's very vulgar and and uh somehow it's going to convince people, so i yeah all right guys. I'Ll, let you guys go bitcoin is certainly doing well. Another 600 points out of nowhere some big endorsements today, uh big surprises too. You know obviously blackrock their endorsement is huge huge also, you know a surprise, like poker sites are now buying bitcoins by millions upon millions per day and 100 millions per month, because their players rather have bitcoin they're, cashing on bitcoin 90 to 95 payouts in bitcoin.
Think about that no one wants cash. They want bitcoin right. So you have a lot of surprise players. Now that's buying hundreds of millions of bitcoins right blackrock's endorsement is go cause a lot of other hedge funders. Think, okay, maybe i shouldn't have so much gold. I should have some bitcoin right, so the world is just really really different. They'Re. The the whole perspective on bitcoin has completely changed. 180. I don't hear anyone talk bad about bitcoin, i mean if you could find the article from like someone like even norelle. You know uh dr doom. Even he said, bitcoin is a store of value. Like really jamie dimon recently said it's, not my cup of tea. No one is coming out at this point saying bitcoin is a ponzi. Bitcoin is a scam right.