So Anthony, you recently predicted Bitcoin will reach $100,000 by the end of 2021 So what makes you so confident about this prediction? Yeah
The prediction here is simply based on Bitcoin being a asset that has a fixed supply and a belief that supply and demand economics will continue to remain valid Anytime you have a fix supply asset demand increases then price has to go up And so that leads to the question as to what will make demand increase And I think that there's a number of factors that are important to call out The first is the macro environment
So this is central banks cutting interest rates and printing more money as we enter a new recessive period Second to that is all of the global instability trade wars So as we see things playing out with Mexico and China on the trade front and then also the global instability around Hong Kong I ran Argentina Venezuela etc More and more people want to have exposure to an algorithmically driven monetary system They are not comfortable continuing to expose their wealth to a human led system in which we know that these leaders and the elites are openly manipulating the currencies and the economies in which we live
And so all we're seeing is an increase in demand because more and more people want that safe haven asset That predictability that transparency see that Bitcoin brings That we're just not getting in the fiat system And so I think anytime we have an increase in demand fix supply asset price will go up And my guess is that we'll see $100,000 before the end of a 2021 year
So in one of your latest articles you claim that Bitcoin has the potential to become a global reserve currency and you also said that Bitcoin is the first currency that is focus on defense instead of offense What do you mean by that? For sure the nation state with the greatest military has always controlled the global reserve currency So if you go all the way back to ancient Athens if you look at the Roman Empire all the way on up to today with the United States that great military superiority has always led to control of the global reserve currency The problem is where we are going in a more cyber or digital world The bombs the bullets the tanks the fighter jets et cetera aren't nearly as important as they used to be
So in that cyber driven world the things that previously have allowed a nation state to control the global reserve currency military superiority economic sanctions etc All the sudden are much less effective And what I believe is going to occur is the country or the monetary system that has the greatest defense actually is in a position to dominate And what I mean by that is bitcoin has no bombs it has no soldiers it has no fighter jets it simply has the most secure computing network in the world There is no one CEO to go and arrest
There is no one headquarters to go to and raid There is no one to send a letter to from a congressional hearing and say hey stop This is a fully decentralized global network that is very very difficult for a uncoordinated governments around the world to address and so I think that what we're seeing is bitcoin's defense first approach actually leads to a great offense and drastically increases the probability that bitcoin will one day be the global reserve currency of the world So you said that Bitcoin doesn't have a CEO but talking about another currency which actually has a CEO – Libra, the Facebook's cryptocurrency This is a currency that to actually welcomed as it's probably going to bring bitcoin into the mainstream but still this currency is not gonna be anything similar to Bitcoin in terms of decentralization
So aren't you a little bit concerned about the privacy, the potential privacy threats that Libra can have on the crypto community and also done to thing that Libra could potentially suck oxygen out of Bitcoin? Yes it's I think it's important to call out why Libra is so bullish for bitcoin You know Facebook made two announcements: one is Libra which is a somewhat distributed among 28 different institutions today with the goal of getting to 100 different institutions around the world It is a digital currency right It's used to purchase goods and services and to send monetary value between individuals or organizations The second announcement they made was Calibra which is a digital wallet
The Libra currency I think will do a lot of benefit to Bitcoin by helping to educate, helping to familiarize folks with digital currencies in general, and then Calibra, the wallet Today it will only support Libra I believe in the future it will support bitcoin Ethereum and other crypto currencies, then it will eventually support tokenized securities So every stock, bond, currency and commodity, and then at some point it's likely to also support data Your digitized data
Think of your medical health records etc all held in one central location which is that Calibra wallets non-custodial so you have full control and you permission people in and out whether it is your assets or your data Now when it comes to Bitcoin, Bitcoin benefits from Libra through that education, familiarization the marketing, the onboarding and then on the Calibra side, if Facebook gives a digital wallet to two plus billion people and all of a sudden add support for bitcoin into that digital wallet, that is a massive inflection point when it comes to user adoption and one that I think is likely to occur at some point in the future I don't think that the data issues that Facebook has been labeled with recently are solely Facebook's issue alone I actually think that most large technology companies have similar issues
And so what we actually are uncovering here is the users of these internet services have had no clue what data is being collected how it's being used etc but in many cases we've actually signed off on it when we sign terms and conditions etc What I think is happening in the cryptocurrency world and around bitcoin specifically is people are much more vocal right they're much more aware of how their data is being used what it's being used for where it's being exposed What is the security
Do I control it Do I not And so again I think that Calibra is going to be held to the same standard that you see Bitcoin holding different products to crypto Twitter on Reddit etc and once we actually have that information I think that the market will decide if Calibra is adopted it will be because it is a product that provides value If it's not adopted it's because it either didn't provide value or somebody provided more value than Calibra did
Over 50% of your wealth is actually invested into bitcoin So many traders say that when you get into the space you should never invest more than what you actually ready or that you can actually afford to lose So don't you think that putting over 50% of your wealth in bitcoin is quite a risky move? Yeah I think that risk is relative for every individual Right So obviously when it comes to to me personally the decisions that I make I have a very clear risk profile that I'm willing to undertake
I understand kind of not only from a portfolio sizing perspective but also a timeline perspective I think that there's also an element of education or or some level of expertise and experience given that I spend my full time job looking at this stuff and so when you ask me where is the best place to put my wealth I would make the argument that having 100% exposure to fiat currencies is a really bad idea Right because it's one of those fiat currencies that have a hundred percent of your wealth in either hyper inflates or fails You've got a lot of problems and so just like there is an encouragement of diversification in other assets
I also think in what I call a cash position there needs to be more diversification and so that leaves the question of how much should you divert from the fiat currency into bitcoin or some other digital currency I think that question has to be answered by each individual themselves but I don't think that it's really a prescriptive thing where myself or anyone else can can give a number or percentage without actually talking to an individual or an organization about what their specific situation is and what their goals are
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