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Folks, let me tell you, cryptocurrencies, they're unbelievable, just the best. I mean, Bitcoin, it's like a big league baseball, it's gonna hit a home run, and Ethereum, it's like a fantastic wall, it's gonna keep all the bad guys out. And the other ones, Litecoin, Ripple, they're all tremendous, folks, they're all gonna be so big, so strong, so powerful, that it's gonna make your head spin. I mean, I've made some of the greatest deals, the greatest, with cryptocurrencies, and I'm telling you, nobody, nobody, is better at cryptocurrency than I am. I've got the best words, the best brain, and I know more about blockchain than any expert, any expert, folks. In fact, I'm pretty sure I invented blockchain, it's a great word, a fantastic word, and I'm gonna trademark it, just watch. And let me tell you, folks, cryptocurrency is gonna be so huge, so massive, that we're gonna have to build a wall around it, a beautiful wall, to keep all the fake coins out. And I'm gonna make the hackers pay for it, mark my words. Believe me, folks, it's gonna be yuge, just yuge, the future of cryptocurrency is gonna be so big, so strong, so powerful, that it's gonna make America great again, again, and again.
Generally agree with you. But the market price is the market price.
While I believe bitcoin is worth more than $500k/coin, the market will only give me $78k for that coin should I require trading my money for a car or a banana.
Hopefully over time, more people will understand bitcoin's value, but it increasingly looks like the market rate of increase in price is slowing dramatically cycle after cycle.
Yeah, I mean we can all do many different analysis to get different results. But I think intuitively, most bitcoiners would believe that if you hodl for any 4 year period, your purchasing power should go up tremendously. Instead, it hasn't kept up with the nasdaq and barely held up compared to s&p500.
it was around 60k in March 2021.
I wholeheartedly agree that the purchasing power of money is very important. Bitcoin is money. It literally serves no other purpose than to be exchanged at some point of time for a real world good. You can't eat a bitcoin, live in a bitcoin, drive to the park in your bitcoin, etc... I agree its stupid for people who are heavily invested in bitcoin to act all happy that the price is going down, this is just a "the grapes are sour" type of coping mechanism.
But markets are a fickle beast. 80%+ of the wealth is owned by a tiny fraction of the population, and they tend to have insider knowledge of policies before they are implemented. Prices are also set on the edge, based on the last trade.
Humans tend to follow herd behavior and the algos that do the vast majority of trading are even worse and are hard trend followers.
Throw in the extreme uncertainty and chaos of Trump into the global mix, and yes we have a chaotic stock market which bitcoin is a tiny tiny tiny little subset of.
I am leaning towards the theory that Trump wants to crash the market hard in 2025. Why? Because he can then blame it on Biden and his followers are stupid enough to parrot and believe it. Interest rates will plummet alongside the stock market which will allow Bessent to roll over much of the debt at lower rates. The federal reserve will then implement several cuts this year to combat the weakening economy. The end of 2025 and 2026 will begin the roaring comeback, which plays very nicely politically for Trump going into the midterms.
I wouldn't be shocked if we've seen the bitcoin high for several months and don't revisit the 100k+ until Q4 of this year. But on a positive note, we may not have the typical cycle crash next year and could have another up year...
I'd keep my expectations very low for this. I imagine it will be a bunch of suits, ranging from VCs to shitcoin founders (cardano, xrp) to hedge fund billionaires.
Trump being elected was certainly positive for the shitcoin/memecoin industry and the crypto casinos (coinbase, gemini, etc...) but I really don't see anything positive for bitcoin coming from him.
Its not a stupid bet if you have conviction about something. Its one thing to say you believe something, its another to put your money where your mouth is. I believe bitcoin price will hit an ATH before 10/1 and am willing to bet some sats on it.
We are all making a bet whether we think about it or not. You are making a bet that bitcoin is a good money and will continue to be in the future (by presumably holding all your net worth in bitcoin). That is a bet.
Would you care to put some sats on it?
I'd wager 1M sats that we hit a new ATH before EOD 10/1/2025 if you're game!
True. But my point is that bitcoiners thought they were putting "bitcoiners" in office by giving them money/votes.
Instead it seems what we'll get is a hastening of a ("privately held by a corporation") CBDC and more financial tyranny.
I'd imagine, just like with doge, it will all be a selective release of information that doesn't show any malfeasance by anyone aligned with the current administration.
If Trump and a bunch of other republicans aren't on those logs, you'll know this is a BS release.
“I think tomorrow, Jesse, breaking news right now … you’re going to see some Epstein information being released, by my office,” Bondi told Fox News’s Jesse Waters late Wednesday.
I'd check out the book "Confessions of an Economic Hitman". You can also listen to the author on some podcasts/youtube videos if you don't want to read the book. He worked for these economic institutions and blew the whistle on exactly what "prevents them from changing their minds".
They start with the carrot (give you money, pay you off) but then quickly move to the stick (overthrow your government or simply assassinate you). Its an amazing read.
I don't think most foreigners who have amassed so much wealth outside of America that they could throw $5M at a US citizenship path would care to do so. First of all, you've already made it. Once you have that kind of money, you can live like a king in most countries around the world. Not to mention, you are likely older in life and have deep roots elsewhere.
But most importantly, with that kind of money, why subject yourself to a lifetime of US taxes? Instead, just visit whenever you'd like to as you'd easily be granted visitor status as needed and enjoy the normal residency based taxation that almost every other country in the world adheres to.