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1911: Satoshi’s Early Partner Predicted Bitcoin at $10,000,000 Per Coin
00:41:25
In 2009, Hal Finney, one of Bitcoin’s earliest adopters, ran a theoretical calculation to estimate Bitcoin’s long-term value, suggesting a run-up of $10,000,000 per BTC.
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- [00:00]
Jack Welch
The Jack Welch Management Institute at Strayer University helps you go from I know the way to I've arrived with our top 10 ranked online MBA. Gain skills you can learn today and apply tomorrow. Get ready to go from make it happen to Made it happen and keep striving. Visit strayer.edu Jack Welchmba to learn more. Strayer University is certified to operate in Virginia by Shev and has many campuses including at 2121 15th Street north in Arlington, Virginia. This episode is brought to you by Global X. Since 2008, Global X ETFs has been committed to empowering investors with unexplored intelligence solutions. GlobalX specializes in exchange traded funds that offer exposure to the artificial intelligence ecosystem, including themes like data centers, robotics, semiconductors and cloud computing. To learn more about Global X's entire suite of ETFs from covered calls, fixed income, emerging markets and more, Visit Global X etf's.com Woke up looking for the.
- [01:00]
JV
Brock Lee JV stack a little more BTZ in today's show, I'll be sharing the latest technical analysis as Bitcoin is pumping on the verge of recapturing $98,000. We'll also be discussing Trump vows Fort Knox gold audit. The prediction markets have reacted with predictions of a 70% chance of this happening. We'll also be discussing Montana becomes the fourth US State to advance their Bitcoin reserve bill to the House as well as Barstool founder Mr. Cab hands Portnoy launches and dumps his greed meme coin in just one hour. We'll also be discussing 86% of the Libra traders have realized a loss of more than $11,000 according to the latest report, as well as Satoshi Nakamoto's early partner. Hell Finney predicted Bitcoin at 10 million all the way back then. We'll also be discussing Bitcoin of 500 GS per coin according to Standard Charter, doubling down on their 2028 target. We also be taking a look at the overall crypto market. All this plus so much more right here. Fam in today's show. Yo, what's good Crypto fam. This is first and foremost a video show. So if you want the full premium experience with video, visit my YouTube channel at cryptonewsalerts.net Again, that's Crypto News Alerts.net Today is Pod 1911. My favorite number. I'm your host JV. It's February 20th, 2025. Prelo Biddy going up right on the cusp of reclaim 98,000 up another 15 hundo on the day. The entire market pumping in in the green as you can see here on Coin360 only BNB and Solana and Litecoin top coins in the red on the day and check it out coinmarketcap.com we're currently sitting at 3.21 trillion. Market cap Biddy Market cap 1.938 trillion. We have roughly 87 billion worth of volume over the past 24 hours Bitcoin dominance has been back on the climb currently 60.3%. Ether dominance has been pretty stagnant at 10.2%. Checking out top 100 crypto gainers past 24 hours we got Bara up 23% followed by Story up 22% followed by Pith up 15%. Which alts Broskis are you bullish on for the bull if any Holla. And checking out the crypto bubbles we get a visual perspective on the daily safe to say maybe 7030 green over red monthly unfortunately 90% of the market re city Trump down 57%. Even some of the top coins down 30, 40 50%. Checking out the crypto green index we're almost dead. Middle in the middle a little Italy little day. We know that we riddles a middleman. We didn't do Italy at a 49. Yesterday at 44, last week at 50 and last month at 76. In extreme greed and checking out the time chain Calendar we have 165419 blocks until next happy. We're currently on block number 8, 884, 581 and you currently exchange one fiat monopoly dollar for 1029 sats. So pick up the sats, put down the gats, pick up some bitcoin cats from my band sergio over@bitcoincaps.net and if you don't know now you know crypto Broskis as you can see in your screen and thank you for the clarification. Boet says yes. 450 Bitcoin mine daily demand is easily over 20x. The daily supply just goes to show you. But here you're looking at the 1 minute chart on your screen. It doesn't say much because we're zoomed in on a one minute. So let's actually zoom it out to the one hour and work our way back. One hour chart very bullish. We do have the super bull target sitting at 104,500 which is what maybe another 7,000 is climb from the current price action. And we do have a bear target sitting just at 81,000. The only real influencer calling that that I'm aware of is Arthur Hayes. He thinks we're gonna have a massive correction before we continue to rip forward. But I'm more optimistic. I think we're likely to continue ripping forward. Re enter Price Discovery which is currently 1093 and I feel once we break that the next logical leg up will be somewhere between120 and130,000 which takes us to our next target. On this four hour chart you can see on your screen we have the orange Bitcoin orange that is 130 GS in play. Let me know when you feel we'll likely hit that. I am still optimistic we can hit first quarter of this year, which means before the end of March. So we're in the thick of it right now. Halfway through Q1 of 2025. We also have a red target sitting at104.5 on the four hour chart and then a couple of bear scenarios as well. Zooming out from the four hour Take a quick look at the daily and the daily chart says it's going up forever. Nipsey. As you can see, past couple of days we've been pumping. Prior to that we had 34 get.
- [05:58]
Jack Welch
The Angel Reese special at McDonald's. Now let's break it down. My favorite barbecue sauce, American cheese, crispy bacon, pickles, onions and a sesame seed bun of course. And don't forget the fries and the drinks. Sound good.
- [06:12]
JV
Participating restaurants for a limited time. Consecutive red days but we're back in the green. Happy Days fam. And zooming out from the daily Take a quick look at the weekly the weekly chart shows us we still have the 124,000 cup and handle target in play. Overall very bullish trajectory since the news of Trump becoming President. We started ripping like crazy. Then we've been trading sideways and we peaked at the inauguration day of January 20th a few weeks ago. And zooming out from there we'll take a quick look at the monthly today is February 20th so we only got eight days left to finish out the month. Will it flip green? Cuz we're currently in red territory for the monthly close. Unless things change. You guys let me know your thoughts and I also want to hit you with some of the breaking headlines as well. So let me pull this up on my screen. So strategy announced pricing of its 2 billion in notes to buy more Bitcoin. As you know, the converting of the the convertible notes ordeal. We call him the Bitcoin Alchemist. As it said on the COVID of Forbes because precisely what he does, he manifests bitcoin out of thin air. Like his name is Satoshi, this guy. But that's Mikey. Sailor for you. Two billion dollar buy. Incoming. Also, President Trump spoke yesterday and said he signed executive orders to end Joe Biden's war coin and crypto, quoting them here. We ended that war totally. That war is over, Jehovah. And there you go. Also, GameStop CEO just followed Bitcoin magazine. Why is this a big deal? He only follows two accounts, literally. So is this a sign? He is about to convert $4 billion into Bitcoin. I mean, look at him. Ryan Cohen follows two people. One of them's Bitcoin magazine. If I was to speculate, the other one's probably a guy named Mikey Saylor, but what do I know? He recently met up with him. So, I mean, what is. What do you think Michael Saylor's talking to people about? Buy the bitcoin. Buy the bitcoin. Buy the bitcoin. And if you don't know, now you know. But yeah. Let's continue with some of the headlines, some of the breaking news. Here's what's happening out of Fort Knox. Trump vows Fort Knox gold audit. Prediction markets on Poly Market have reacted. Check this. The odds of the Fort Knox gold reserve audit taking place by May of this year surged onto prediction markets after President Trump confirmed confirmed his administration's intention to conduct the audit. Music to my ears. Hold these mofos accountable, Trump. Trump spoke out on the Fort Knox audit during a flight to Washington on February 19, stating that his admin is planning to visit the vault to check the gold reserves. Do a live stream, Trump, please. Cuz even if you went there and you looked with your own eyes, you're like, oh, everything looks great. We want a professional audit done. I wanna see a live stream. I wanna see proof of reserves. I want the proof of the reserves on the blockchain. Yeah, I mean, otherwise, I mean, I'm gonna be. That's just me. But anyways, goals supply. Fort Knox, I don't believe has been audited in literally 60 years. Oh, snap. Elon wrote a live stream before Knox would be fire. Read my mind. Crazy. And I didn't look at this story. I mean, I looked at the headline, but I didn't read the story before I went live. But we're on the same wavelength here. We're going to go into Fort Knox and make sure the gold is there. Trump declared, confirming the initiative that was originally spearheaded by the Libertarian financial block. I'll volunteer Mr. Trump, Mr. Elon, if you want a live streamer, the community trust to do some form of audit or live stream, I will go there with the nipinator and we will inspect or gadget that mofo, if you know what I'm saying. But anyways, Trump's latest Fort Knox remarks fueled betting activity on the crypto based prediction market. Poly Market, the largest one there is listing several related markets on February 17 and if the gold isn't there, we're going to be very upset. I'd say. Who do we hold accountable at that part, who do you think is responsible or should be held accountable? Let me know. And addressing the question on the implications of the missing gold reserves, should the audit discover some Trump expressed hope that everything is fine with Fort Knox. While not directly mentioning concerns behind the audit, Trump stated if the gold isn't there, we'd be very upset. I mean that's an understatement. And quoting Cynthia Lummis Bitcoin fixes this. The Bitcoin reserve could be audited anytime 247 with a basic computer and it is every 10 minutes minutes. It's time to upgrade our reserves. Amen to that. Trump's remarks on Fort Knox audit appear to be the first public statement on the vault's gold reserve since he was sworn in as the 47 President Jan. 20th, the day we hit the all time high. The audit would mark the first review of Fort Knox Gold Reserve since 1974. I mean you guys do the math. How many years is that? 30? 40? 50, 50 plus years? Ballpark. The question of the Fort Knox audit has been widely supported by the community and I think you'd all agree and love to see that live stream with JV in with many suggesting that this whole process of the goal audits is a bullish event for bitcoin Precisely is which can be audited freely 24,7 and cannot be faked. Unlike gold which is often faked. Yeah, I mean it's faked all the freaking time. Following Trump's confirmation, the odds of a Fort Knox audit occurring before May of 2025 surged to 70%. That means there is a strong probability that that happens.
- [11:17]
Jack Welch
This episode is brought to you by Amazon Business. We could all use more time. Amazon Business offers smart business buying solutions so you can spend more time growing your business and less time doing the admin. I can see why they call it smart. Learn more@amazonbusiness.com.
- [11:34]
JV
And at this time polymarket betters have assigned a 64 probability to the audit happening up from 55% the previous day. That's because he just spoke about it and confirmed he was going to do it. Another poly market speculating on or market speculating whether the audit will reveal missing gold reserves has also seen increased activity. Currently showing a 17% chance of missing assets. Man, I bet the house on the fact that there's some missing assets there if they did perform a actual real audit in which we would all trust. Meanwhile, prediction market platform kali is reportedly preparing to launch its own fort Knox related betting market. Cali's head of growth indicated these markets may go live as soon as February 20, which would mean today. So if that is live, do guys let me know actually discuss this Montana bill. More adoption here in the United states, of course, after the infamous freeze frame, Montana becomes the fourth U. S State to advance the bitcoin reserve bill to the house. That's right. The Montana house business and labor committee passed a bill that would open the door for the bitty and other cryptos to become reserve assets. Montana's business and labor committee passed House bill number 429 and a 128 vote February 19, which was yesterday with all the republicans voting in favor and all democrats opposed. Not surprised there. The fourth crypto reserve bill to reach the house at the state level of the u. S. The measure would create a special revenue account to invest in precious metals, stable coins and digital assets with an average market cap of 750 billion over the last calendar year. So out of the digital assets, bitcoin is the only one qualified that currently meets the requirement. The bill would now head to montana's house, a stage in the legislative process that only Utah, Arizona, Oklahoma have reached when it comes to the bitty reserve related bills. And you can see the satoshi action fund shared the breaking news here. Strategic bitcoin reserve legislation in montana passes out of committee and moves out onto the house floor vote. Thank you to the leadership of rep. Schomer who sponsored the bill. Respect. The bill was amended to exclude the requirement that funds must be held by a qualified custodian or through an ETF. So if passed, the bill would become effective July 1, allowing the state treasurer to move up to $50 million to a special account used to invest in precious metals, digital assets and stable coins by July 15. So thus far, Illinois, Kentucky, Maryland, New Hampshire, New Mexico, North Dakota, Ohio, Pennsylvania, South Dakota, Texas are among the other U. S States that have also recently introduced bills for the bitcoin reserve. And I hear there's now over 30 in total proposing for a strategic reserve bill or putting bitcoin in the treasury or for the pension fund or the sovereign wealth fund or some level a bitty adoption. So let's go Montana. Also, Utah made the most regulatory progress being the only state to have a bitcoin reserve bill actually passed through the house as of recent. Satoshi action fund CEO Dennis porter recently tipped Utah to be the first u. S. State to adopt the bitcoin reserve. Let's go mormon world. Citing the state shorter legislative window calendar and political momentum. And meanwhile we have u. S. Senator lummis still trying to pass the bitcoin reserve bill at the federal level. Her proposal is to purchase, I believe it's 5% of the Bitcoin supply, which is roughly 1 million BTC. And I watched a interview with Michael sailor which is probably maybe a month or two old that he did with Natalie Brunel from coin stories, and he was actually discussing that he's hoping trump is more advantageous on the level of bitcoin adoption for the strategic bitcoin reserve. He says minimal 5%, which is a million bitcoin, which is what lummis's bill proposes. But it's up to Trump and them to decide how much he thinks we can go as high as like, wow, let me remember with these numbers he shared but like 5x that. So instead of like 1 million purchasing 5 million Bitcoin, which is like 20 of the supply, I even think he even said 25 of the supply. So 5% would be the low end if the US purchase 1 million made that proposal and it would probably be over the course of several years. It wouldn't be instantly. It would be very hard and difficult to acquire that much bitcoin like in a single swoop, if you understand what I'm saying. Very limited supply of the biddy. So like, my understanding is Cynthia Lummis's bill proposes purchasing 200000 Bitcoin a year for the United States as a strategic reserve asset. But those numbers can be upped significantly. So you guys let me know your thoughts on that. Bankers are wankers. I couldn't agree that next story of the day. I mean, you can't make this ish up. Barstool founder Dave Portnoy, Mr. Cabbage Hands, launches and dumps a meme coin called greed in just one hour. That's right. And I heard he's already launched two. I don't know how accurate that is, but let's get into the story. Barstool sports founder portnoy launches a meme coin called greed from his Official wallet It says today, but I believe this article was written yesterday. So this would mean yesterday. However, he sold his entire position. An hour I can say to my.
- [16:40]
Jack Welch
New Samsung Galaxy S25 Ultra, hey, find a keto friendly restaurant nearby and text.
- [16:45]
JV
It to Beth and Steve.
- [16:46]
Jack Welch
And it does without me lifting a finger so I can get in more squats anywhere I can.
- [16:50]
JV
1, 2, 3 will that be cash or credit? Credit.
- [16:56]
Jack Welch
4 Galaxy S25 Ultra the AI companion that does the heavy lifting. So you can do you get yours@samsung.com.
- [17:04]
JV
Compatible select apps requires Google Gemini account Results may vary based on input. Check responses for accuracy causing the Token's Valley to crash by more than 90%. I guess he wasn't happy with the whole Libra launch. He put in 5 million of his own money but guess what? He got refunded by the dev that was in control of $100 million of the assets. So when influencers get paid to push these tokens, there's nothing they can lose. And they can only win because if they lose they get credited back from whoever is behind it all. Go goes to show you retail you're not getting refunded. So it's a sucker's game. I hope you guys noticed that. So yeah, he literally sold 90% of the token. Not a good look. So. February 19th the post. This is what I said. The entire ecosystem is greed and nothing else. Go dump on each other peasants. But don't complain to me if you lose money. You're all greedy. At least admit it. Interesting. He then launched greed, presenting it as a social experiment. Tell it to the judge. And a reflection of the true nature of the sector. I guess he's pretty accurate there. According to the blockchain analytics firm look on Chain, Portnoy issued a token and purchased 357 million units representing roughly 36 of the total supply. The market cap quickly quickly searched to 30 million. Despite initially claiming he would not sell anytime soon. What a liar. The 47 year old offloaded his entire position within an hour. What I tell you, trust nothing these clowns say and watch what they do because they have no problem looking you in the eye and lying to you. These guys are professional liars. I like to believe Dave has like better morals and ethics but obviously that's not true according to what he just did. So the greed's value plummeted. 99 to below 3 million. It looks like everyone got wrecked. Look on chain reported he profited approximately 258000 from the meme coin. I don't understand the Guy's worth over 100 million. Is it necessary to rug your audience who loves you for 250 grand? Brother, it just to me I don't get it. But shortly after point I launched another token. Go figure. Greed 2. And it currently holds 268 million of them, making up 26 of the supply. And in the final twist, the media mogul returned to X stating that they had only promised not to sell one coin. Referring to the Salana meme token Stool Presidente Jail Stool. That's an interesting name. He emphasized that he was free to sell anything else he had warned people not to buy. So I guess he just tells people don't buy it and then he feels good about it it because he told you not to buy it. But people are still going to buy it because they don't care what he says, they just follow what he does. Does that make any sense? Portnoy first revealed his purchase of 57 million jail stool tokens February 9th. Shortly after he sold the entire stack. I guess the stack he said he wasn't going to sell, exchanging it for roughly 586 soul. However, he quickly bought back even more, spending over a thousand sold or acquired just over 23 million coins. Following the initial spike in the dip, Jail Stool's market cap surged past 1 million. As the entrepreneur fueled its viral appeal. The coin's value more than doubled, reaching an all time high of nearly 218 million. Currently the meme crypto is trading around looks like one and a half cents, a 19% drop in the last 24 hours. It has suffered a more marked loss over the past seven days, shaving a massive 77% off its value. And as you know, we've been covering the Libra token scam and all these other projects that are really just designed to make the insiders rich and to rug the community and make crypto look bad. So not a good look. Well, let's continue with the news as 98 is clearly incoming. Next story of the day. Now that we discussed the greed Portnoy rug pull times two. Now let's discuss the Libra rug and interestingly enough, first thing in the morning I watched the brand new Coffeezilla interview covering this story and not a good look for everyone involved. I think a lot of people are screwed in the sense that, you know, it was a criminal launch, really bad intentions from the very beginning, sniping going on, insider trading, everything you could imagine went wrong, actually went wrong. As in all these meme coin launches and the same People behind the Melania Coin launch were the same people behind the Libra launch. So I mean come on now. But headline here reads 86 of the Libra traders have realized a loss of more than $11,000. Onchain data shows the hardest hit investors of the Libra Meme coin pump and dump scheme lost a combined 251 million. Blockchain research firm Nansen found that 15,400 wallets that sold at a profit or lost more than a thousand. Over 86% of those sold at a loss. So the majority are losers, combining for a quarter billion in losses. On the flip side, the other 2100 profitable wallets were able to take home just about 180 million in unrealized gains. Or I should say according to this realized gains. According to the report examining the biggest winners and losers from the Libra token, which was briefly shared by Argentine President Javier Malay, quoting the report here, Imagine.
- [22:12]
Jack Welch
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- [22:40]
JV
Edu Insiders took profits, retail got burned and key backers distanced themselves. A handful of wallets walked away with millions while most traders were left with deep losses. And I know this was confirmed in the Coffee Zilla interview Portnoy he purchased $5 million worth of the Libra token in which he lost and then they returned his money cuz he's an influencer and they wanted to pay him and give him tokens for promoting it. And that's how this works fam and around 1478 wallet hodlers. So I realized loss between a thousand and ten thousand amounting to 4.8 million combined to realized losses. The 2800 crypto wallets lost between ten thousand and a hundred thousand pretty significant amounting to 82 million and another 392 wallets lost between a hundred thousand and a million dollars. Now in my humble opinion you got to be half to be investing like a hundred thousand to a million dollars into a meme coin, especially one like this. I mean they're all bad in my opinion but you get my grift with losses approximate totaling 96 and a half million. Another 23 wallets that lost more than a million combined for 40 million, almost 50 million in losses. Nansen said the worst 15 addresses losses total 33 million. With one of those wallets still holding 57% of the balance. Nansen also said the steepest realized loss came from Barstool founder Portnoy's wallet at 6.3 million. Portnoy was one of the project's Insiders, but returned 6 million Libra tokens. Tokens to Davis. Tokens that Portnoy received as payment for promoting the meme coin. So how this stuff works, they pay the influencers with tokens for free, which they print out of thin air. The influencer pushes it to their millions of people in the audience and then all these people get wrecked not knowing any better. And it's never a good look. You're supposed to disclose that. It's called insider trading. So Portnoy, though, allegedly did not take the bribe. He returned the tokens that were delivered to him and he said, I'm going to buy it with my own money. In which he did. Loses 5 million and then the dev sends him his 5 million back. So he loses absolutely nothing. Now Berwick Law, the law firm currently suing Pump, Dot, Fun and the Hawk to a meme coin creator, said it already in contact with hundreds of clients who lost money from the Libra and would explore legal options as more facts come to light. They said our priority is advocating for those affected and helping them explore potential avenues for financial recovery. The main parties behind Libra's token launch were Kelsler Ventures and CEO Hayden Davis. That guy actually did. He's the dev behind it all. The dev for Malay. He did the interview with Coffeezilla and the Kip Protocol CEO Julian Per. If I'm saying that right, while Malay's post was deleted five hours later. Not a good look. Javier appears to be the main catalyst behind the meme coins, right? Of course. So you have people like Javier Malay, who's the president of a country of 46 million people. You have Dave Portnoy who has millions of followers. These are the people responsible for all these people getting wrecked. If they didn't tweet about it and openly promote it, do you think so many people would have bought it and would arose in a four and a half billion market cap within an hour? Absolutely not. So who do we point the finger at here? Family? Local media outlet? One thing I'll say for sure, you never see me pumping this media outlet. La Nacion claims to have seen text messages suggesting Malay's sister, Karina Malay, who serves as the Secretary General for Argentina's presidential office, may have also been involved. Good Lord. Hayden Davis, the supposed sender, has denied sending the messages. Well, of course. And meanwhile, Davis and Counselor Ventures some of the biggest winners from the Libra Token launch, claiming to have netted around 100 million in which they have access to right now. Davis, however, said he didn't directly own the tokens and wouldn't be selling them, but they do have control over them. Meanwhile, Malay had also distanced himself himself from the meme coin, arguing he didn't promote the Libra Token, as fraud lawsuits filed against him have claimed, and instead merely spread the word about it. So can someone explain the difference between spreading the word and making a post about it? And what's the other word? Promoting it? Is there a difference? I'm curious. Let me know. Meanwhile, Argentina's opposition party is calling for Malay's impeachment. You just gave them ammunition by doing something. So I don't feel bad for Malay. I don't feel bad for any of the parties involved. You guys got to know better. I like to believe no one in my audience was stupid enough to buy that token. And if you did, you probably knew the consequences, that there was over a 90 chance you would lose it all. And so that's why I don't feel sorry for any of these folks. You guys got to do better, know better. And I'm not speaking to all of you guys, but specifically those of you looking to get rich quick in crypto. If it sounds too good to be true, it typically is. And so just be careful with the shit corner you guys. Now for our feature story of the day. Satoshi Nakamoto's early partner.
- [27:39]
Jack Welch
My dad works in B2B marketing. He came by my school for career day and said he was a big roas man. Then he told everyone how much he loved calculating his return on ad spend. My friends still laugh at me to this day. Not everyone gets B2B but with LinkedIn you'll be able to reach people who do get a hundred dollar credit on your next ad campaign. Go to LinkedIn.com results to claim your credit. That's LinkedIn.com results. Terms and conditions apply. LinkedIn the place to be to be.
- [28:10]
JV
Hal Finney rest in peace predicted Bitcoin at $10 million per coin very long time ago. And we'll also be sharing bonus story Bitcoin of 500,000 according to Standard Chartered bank doubling down on their 2028 target. And if you don't know, Standard chartered big bank over in Europe, and the primary shareholder is blackrock. So more bullishness coming from the blackrock. But first, let's dive into Hal Finney's infamous ten million dollar price projection. You should be able to see this pulled up on the screen. Bitcoin's meteoric rise over the past 15 years has turned many skeptics into believers. You say that again. But could it ever reach the heights predicted by early pioneer Hal Finney, who speculated the bitcoin could one day be worth over 10 million million per coin? I feel it's like a given, it's inevitable. The million dollar question is when? What year? Right. So back in 2009, Finney, one of Bitcoin's earliest adopters, ran a theoretical calculation to estimate Bitcoin's long term value. He assumed that if bitcoin were to become the dominant global currency or a key store value, its token market cap would need to match the world's total wealth at that time. Roughly 16 years ago, he estimated the global wealth to be in the range of 100 to $300 trillion. Total addressable market well, Bitcoin supply cap at 21 million. Dividing these figures results in a potential price of 4.7 million to 14.2 million per biddy. Factoring in future economic growth and inflation, some estimates push this number above 22 million per BTC. Now, Hal Finney was one of the first people to believe in Bitcoin. Back on January 12th of 2009, he received the first ever Bitcoin transaction. 10 BTC, now valued at roughly a million dollars. And from bitcoin, synonymous creator Satoshi. This made him one of the earliest adopters of bitcoin. Finney worked closely with Nakamoto, helping to improve bitcoin's code and testing the early versions. Some people even thought he might be Satoshi himself. But of course, he always denied it, as satoshi would. And for bitcoin to reach such astronomical figures, it would need to displace gold, fiat currencies and other assets. Assets of the world's ultimate store value, in which we all know it's the hardest money. It's unequitable, it's impregnable. Hence it's a pretty little bitty going up. Institutional adoption, sovereign wealth fund allocations, and global economic shifts would have to drive its market cap into the hundreds of trillions. However, Bitcoin's relatively small market cap of 1.9 trillion in 2024 suggests it has a long way to go. Meanwhile, podcaster Patrick Bet David challenged Mikey Sailor on Micro Strategies long term term value suggesting the company could grow into a 10 trillion dollar giant if Bitcoin reaches 13 million per coin, which is Sailor's bear scenario. And In November of 19th on the Pod bet David calculated that a Bitcoin adoption jumps from 0.1% to 7% and Bitcoin surges from 90,000 to $13 million. Micro strategy now known as strategy B's valuation could increase 144 max. Quoting them here, if I do 14473 billion, you're estimating it to be 10 and a half trillion company in 21 years, is that correct? Yes. Sailor and Sailor agreed saying with that math, yeah, bitcoin goes from 90,000 to 13 million per B& at that time Micro Strategy, which is now strategy had a market cap of 85 billion while Bitcoin was priced at 975. So Bitcoin reaches 13 million micro strategies market cap cap with scale approximately exceeding 11 trillion based on the current valuation ratio. I like to also point out in the past 16 years the total addressable market also climbed significantly. So we're no longer calculating 100 to 300 trillion but estimates are now like 700 to 900 trillion which ultimately is means Bitcoin could more than double off the speculation of the 10 million to 20 million. Just FYI. And the other story here is a bonus Standard Charter doubling down on their bullish price trajectory history. Let's break it down. According to the new report from Standard Chartered they cited by Block, their analyst Kendrick, not Lamar sees growing signs that government back instrument vehicles are ramping up their investments into Bitcoin and their interest. The view reinforced by Abu Dhabi's recent disclosure of the 4,700 bitcoins approximately a half a billion equivalent position of the Black Rock Bitcoin Trust ibit, they announced they're holding it in their sovereign wealth fund. Quoting Kendrick here. While this is small for now, we would expect the size to increase over time and indeed for other sovereigns to start also buying. He also wrote in the Tuesday report explaining Abu Dhabi's move marks a strategic shift and could presage broader participation from the other out wealth funds around the world, which there's a lot of wealth in. Kendrick's confidence is partly rooted in the form 13F filings quarterly reports that institutional managers overseeing at least 100 million in assets are requiring required to file with the US FCC. Reviewing data from the fourth quarter of 2024 quoting him here.
- [33:15]
Jack Welch
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- [33:46]
JV
Q4 show that process is underway. It's happening, he said in an email to the block. In Standard Chartered's analysis, Q4 data revealed that while hedge funds maintain their lead into bitcoin purchases, banks, which began buying in Q3 of last year, also ramped up their positions, also drawing parallel parallels between the earlier stage and the bitcoin market evolution dominated by the retail investors and the more recent era which saw the hedge funds and the institutional FOMO like a mofo jump abroad on the ETFs. And now the spotlight appears to be broadening further to include state investment managers as well as the central banks. Quoting the report this gives US comfort to say that even if buying by strategy formerly known as microstrategy, slows down dramatically, it has bought a staggering 227,000 bitcoins since the US election. Damn. More than 1% of the ever to exist supply. And I believe Michael Sailor's goal is to get to 5% of the circulating supply, which would be approximately a million bitcoin, which is what Cynthia Lumus proposed for the us. So how many companies like micro Strategy, now known as strategy, or governments like the US will be able to say we have 5% of the circulating supply? Not many as there's a finite limited supply. We think other buyers are waiting to step in. Facts. I'm sure it's happening. The mention of micro strategy underscores just how significant one private company's bitcoin holdings can be. Yet Standard Chartered's analysis suggests that other large patient pools of capital might absorb the future supply, thus supporting the higher prices over the long term. And amongst the institutions, Kendrick highlights the State of Wisconsin Investment Board in the state of Michigan Department of the Treasury. However, he also points to central banks as potential new participants. In the report, they reference the Czech national bank, which considered allocating up to 5% of its 150 billion in euros in reserves into the bitcoin, and notes that the Swiss national bank is in the early stages of contemplating a similar move. We call this game theory Global hash wars. These developments could further bolster Bitcoin's legitimacy as a store of value on par with more traditional asset classes. And as the institutional access to the Bitcoin improves, volatility declines. We expect more portfolios to migrate towards their optimal level from the underweight Bitcoin starting point coin. So what are your thoughts again? They personally believe 500, 000 will happen by the year 2028, so let me know if you agree or disagree with the analysts over at Standard Chartered. And with that being shared, what I'm going to do next. And again, welcome everyone. Join the stream. Close to 1200 people here. I'm going to play a short one minute video that was captured from Chandy's phone at the 100K Bitcoin Fiesta Puerto Rico just in case you guys missed it. And then we'll flip this mofo into a pump watch and don't forget to check out CryptoNewsAlerts do. Net for the full premium experience with video and to participate in our live Q and A. And I look forward to seeing you on tomorrow's episode Hoddle.