“Bitcoin is Going MUCH HIGHER Than $300,000” | Douglas Borthwick CMO INX | Cryptocurrency in 2021

interesting are you i've heard you on fox business 
i think you gave a you know obviously a huge   bitcoin bull 300 000 bitcoin prediction is oh that 
wasn't my prediction i said that someone else had   said it was going to go to 300 000. i think it's 
going much higher and and and i'll tell you why   because when you look at the number of bitcoin 
that are sitting on exchanges it's going down   every single day and when sailor comes in he 
buys you know a billion dollars here or tesla   buys a billion and a half there all they're doing 
is they're taking things away and they're locking   them up in cold storage and it'll never see 
the light of day this isn't like equities   you got an equity someone buys it goes up 10 they 
sell it with bitcoin people hold it for years and   years and years and you don't have to sell it most 
people won't sell it because if you sell it guess   what you got to pay capital gains but if you hold 
it well you could get yield on it you could stake   it in some way you could you borrow off of it 
there's lots of things you can do but you don't   have to sell it and so people take it it leaves 
the exchanges and never goes back and maybe i   think a couple of months ago there's three and a 
half million bitcoins sitting around in exchanges   that number is a lot lower now and if you think of 
this as a piece of cheese at first in 2017 it was   little mice biting at it guys with 30 followers on 
twitter they were telling their moms it was going   to go to 20 000 bitcoin and everyone's like these 
guys don't know what they're talking about today   it's huge rats just biting and biting getting 
bigger and bigger bites out of it but they're   not they don't have 20 followers they've got 
150 000 followers or a million followers or   30 million followers and they're telling all 
their friends you got to bite in there too   and these aren't guys are taking 5 000 positions 
like it was in 2020 these are guys taking billion   and a half dollar positions and so you're dealing 
with big boys now and it's not the guy in his   basement that's going around telling everyone it's 
going to 20 000.

It's guys like jp morgan saying   it's going to 176 000. guys like citibank they say 
it's going to go to 300 000. guggenheim partners   who say it's going to go to 300 000. it's all of 
the big boys even mass mutual your grandfather's   insurance company is buying bitcoin i don't 
know of anyone that isn't and the only reason   your bank right now is telling you don't buy 
bitcoin is because they haven't figured out a   way to make money on it now when they figure 
out a way to make money on it you can be sure   they're going to be throwing it down your throat 
every time you go into the store or your atm will   be showing it and they'll be charging nice big 
healthy fees and that's going to be it but one   of the most exciting things about bitcoin is what 
it sort of opened up people's eyes to the occ it's   called the office of comptroller and currency 
no one's heard of this boring federal agency   these guys are in washington dc and they turned 
around the other day two weeks ago they said   listen banks you send these things called swift 
payments and ach payments think of a swift payment   it's like when you're told to wire something 
your landlord says hey why are me the first three   months rent you got to go to the bank or send a 
wire 25 dollars it costs you to send that thing   and maybe he's going to pay 25 once he gets a 
positive it's a lot of fees there and maybe it   takes a week for him to get it the occ told banks 
we don't want you to use these swifts anymore ach   we want to use stable coins it's instantaneous 
and there's no fee i can buy a million dollars   of usdc today and i can send it over to you 
guess what it's going to cost me 24 cents   something like that and you're going to get 
it right now instantaneous in your wallet   there's no waiting around a week there's no oh you 
know what we're just checking to make sure it's   all good it just happens and that's the beauty of 
the blockchain it doesn't get lost in the shuffle   the record is there it's immutable and it 
happens instantaneously and so bitcoin has been   like that sort of gateway drug into getting people 
interested in getting people involved it's the sun   that everything's gravitating around and it's just 
getting bigger and bigger and bigger but right now   you've got all these satellites going around that 
sun things like stable coins that are going to get   a lot more interest the crazy thing i that that 
upsets me is you watch cnbc and they always say   i don't know you can't buy a cup of coffee with 
bitcoin it's not for buying coffee bitcoin is for   taking your wealth and storing it so it doesn't 
devalue now you've spent your whole life probably   hearing from your grandparents or your parents 
today you got to buy real estate always goes up   real estate doesn't go up here's this here's the 
here's the dirty secret you've been taught this   but it's not real estate going up it's 
the value of your dollar that's going down   i know this i was a bright guy coming out 
of carnegie mellon in 1992 a long time ago   and i was walking working on wall street and they 
were saying we'll pay you 35 000 this is great   this is fantastic monday these days a first-year 
analyst on wall street maybe it's 180 000 now   they're not a lot smarter than not six times 
smarter than me the price of the dollar's gone   down that much since 1992 that's just what 30 odd 
years i mean that's the crazy thing so you look at   your house say wow it's up 50 in the past 10 years 
no that's not true the dollar's down that much   and people don't understand because that's not how 
we're taught in school we're always thought that's   a great investment but you're not taught that 
the dollar's a bad investment and what bitcoin   is doing is it's teaching every one of us that 
the dollar is a bad investment and i'll give a   great example bring up a chart the value of the 
dollar from 1930.

It's not a dollar anymore it's   like five cents but then you're always taught 
when you're in school the power of compounding   and i'm sure you've seen those charts says oh look 
if you invest a dollar when you're six by the time   you're 30 or 65 guess what it's like 28 dollars 
yeah that's right when interest rates are are   above zero but right now interest rates are zero 
our above are are that zero or negative in europe   and elsewhere so i give you a dollar and next 
year it's 95 cents and next year it's 90 cents and   then it's 85 cents and it's 80. why on earth am i 
going to keep money at the bank with a stable coin   i could buy a million dollars of usdc i can put it 
over a block fire celsius and get 10 interest on   it and have the same liquidity oh i owe you money 
here i'll just send you some usdc why am i keeping   at the bank the average person at a bank takes out 
forty dollars every time they go to the atm and   they pay a two dollar fee let's just go over this 
a little bit hold on so i put my money in the bank   i get a quarter of a percent but every time i take 
twenty dollars out or forty dollars out i pay five   percent two dollars out of forty dollars is five 
percent people complain about fees on ethereum i   mean forget about it the bank is fleecing you 
every single day and you don't know it because   you don't even think about it you're like i'm 
just going to bank it's convenient the atm's   right there yeah but they're taking five percent 
from your pocket every time you go and then percent but for the average american that takes 
out 40 they're getting absolutely hammered in fees   and they don't even notice notice it they 
don't realize it it's great for the banks   but once people understand this because their 
education level goes up because they've been   following bitcoin and crypto good luck to the 
banks and be able to keep their business because   people are going to flock into the crypto space 
yes great perspective make sure you watch the   full conversation there's a link down below in the 
description and click subscribe we drop a video   every single day demystifying the cryptocurrency 
market you do not want to miss one you

You May Also Like