hello folks you have reached the cryptocurrency portal and today I'm going to go over a little information about Bitcoin I have a few things that I want to go over and throw them out to the community and see what you think about them so on any of these topics please just leave comment and in the comment section below I love having discussion in the crypto space about what we discuss here what's on your mind or anything out there that catches your eye so I deeply appreciate and first off if you already subscribe to the channel thank you very much on if you're not subscribed to the channel yet I hope to earn your trust with this video would be honored with your subscription and be sure to smash that like button because it really helps out the channel so here we go Bitcoin economy will hit 8 trillion dollars in the next decade predicts wealth manager Andy Hedstrom seems kind of ridiculous but let's go through it and you know then give him the benefit of doubt and let's see what he says now the reality right now is that the total market cap of Bitcoin is currently at about a hundred and twenty-one billion dollars according to coin market cap that's usually the one I go to to check prices of all Bitcoin all the all coins and everything daily so with that said we would need 66 times the current value of Bitcoin which is around ninety four hundred dollars a coin at the time of this this video in order to multiply the 121 billion times 66 to get to eight truly but he is saying over the next decade so let's go through this one of the first wealth managers to recognize bitcoins potential says he believes the top cryptocurrency will likely reach a trillion dollar market cap and a new interview on the citizen Bitcoin podcast and the ED strim of the california-based investment advisory firm West cap Group says a long list of factors may boost Bitcoin over the next ten years these factors include a fear of missing now that's true in life and anything complete FOMO fear of missing out people will get involved think about back to the end of 2017 when coin went all the way up to 20,000 dollars a coin there were so many people talking about it now no one talks about except the people that are really following that you know that 1% but when the price and the bulls the Bulls hit the price goes up again the future who knows what it'll happen but it will happen one day imagine the FOMO then the fear of missing out so the factors of glue the fear of missing out on the part of specular geopolitical events absolutely looks what's been happening in China look what's been happening with a corona virus you know all those types of things things happen the devaluation of fiat currency yes look at the incredible debt the United States has a 23 trillion dollars look at the debt around the world and then it says the cattles from banks and central governments that create a tipping point and the speculative attack on fiat and his quote is when I see the upside case from an investment point of view I take a 10-year view and I think the total valuation on 10 years that it uses about a trillion dollars and that comes from various buckets whether it's taking share from gold or taking share from Fiat or taking share from offshore assets or slightly D monetizing other stores of value like real estate or new uses we having thought of or are still under consideration whether it's micro payments or things enabled by lightning or it's abra or similar systems or by you can get synthetic exposure to any asset in the world just by holy Bitcoin as collateral so there's all these areas of upside Hedstrom says the fact that fidelity and international exchange ice the parent company of the New York Stock Exchange are offering exposure to their institutional clients has legitimized BTC in a way that smaller cryptocurrencies companies could never do that's that's true imagine if all the small companies weren't just the ones pushing it it would take so long if ever it would catch on but now with these large players getting their institutional clients in first they believe in it long term or they wouldn't get their most valued clients institutional clients involved so here's his quote if I step across the table back to the dark side where I came from from the financial establishment I could care less whether a company named Zappa or a company named bit NGO has qualified custody I start to care when fidelity and the New York Stock Exchange's parent companies are real so that is definitely in them in my mind a shift so that's one thing another factor of course is a price as you point out when we take out the previous all-time high or back and when we're back above 20,000 that's gonna be a catalyst that some people who aren't paying attention now will pay attention to a decade of best performing asset that came out in 2019 is important I think excuses for ignoring it or falling away with time when asked how he explains Bitcoin to his clients and strim says he walks them through his vision of what the future looks like if Bitcoin continues to outperform other asset classes and shatters its all-time high one thing I sometimes like to do is invert it I say look forward into the future this 2022 or something and Bitcoin is already plowed through six figures on price and I'm imagining my conversation with my client my client saying is and he's saying okay do we own any Bitcoin now we don't own any Bitcoin oh so a few years ago was the best performing asset of the decade right yeah that's true and it was uncorrelated to other assets right it had less than 02 correlation to the US stock market foreign developed stock markets emerging markets bond as measured by that Barclays Index gold yeah that's right it was not correlated and the total addressable market was in the tens of trillions of dollars correct yeah that's correct and it was investable right there were instruments in the market you could buy you could buy this in my account right yeah that's true so what am I paying you for huh very interesting how a thought process he went through there so all right now you know give him that eight trillion dollar market cap in the next ten years and that was the reasoning so make a comment in the comment section below to see how he explained it if he thinks that's even feasible all right so the next thing it says Bitcoin so we just went over a 10-year outlook what he was thinking now look what just happened how it says Bitcoin outperforms the Dow as a plunge of 600 points and the coronavirus care impacts travel so global growth concerns fueled by earnings reports and ongoing worries about the corona virus epidemic contributed to a stock market sell-off on Friday that pushed the Dow Industrial Average down six hundred and three points or 2
1 percent to close at twenty eight thousand two hundred and fifty-six investors dumped equities and tapped into the potential safe haven assets such as Bitcoin tangled in a bid to outmaneuver market uncertainty in China's latest fears about the impact of the corona virus on travel and trade in their country the Dow was down now down three percent since last Friday when it closed at 29,000 160 Bitcoin rose to nine thousand five hundred fifty one on Thursday making a fresh high for the year the acid is now trading at ninety 301 up from eighty 502 and last Friday with funstro Global Advisors head researcher Tom Lee speculating that the digital currency will prove itself is a strong hedge against traditional assets and so he says here we expected then you can follow him on Twitter Thomas Lee and his twitter handler is at fun strat fu in DST r8e fun strat we expect Bitcoin to shrug off global equity jitters because BTC likely is seen as a safe haven from the corona virus spread breaking from the pattern 2019 where Bitcoin in stocks moved in lockstep so China's big economic blow is is in motional with an estimate from CNN pinning the figure at a sixty billion dollar loss for the quarter Russia China's biggest trading partner has already at sport or to restrict people from traveling and the Chinese government has placed a temporary ban on wildlife trade then on Thursday India reported its first case of the virus as the United States reported its first case of person person transmission the UK and Russia confirmed their first cases on Friday speaking a news conference at the WHO Geneva's headquarters on Thursday director-general Ted Rose at hi said the previously unknown pathogen has escalated into an unprecedented outbreak travel warnings have prohibited Delta United and American Airlines flights to China as the World Health Organization declares the outbreak a global health emergency now according to the John Hopkins real-time data tracker the death toll has risen to 222 with 213 confirmed recovered and 9925 now infected the travel ban is expected to widen to six additional countries reports CNN so that was just an interesting information one about Bitcoin outperforming the Dow Industrial Average and then just the coronavirus scare so that's just more geopolitical type stuff going on in the world alright so the next thing I want to go over with you is just I love watching the crypto whale Twitter page you can see crypto whale loads mm Bitcoin on Finance and traders move 250 million X RP which we'll talk about probably in another video but I'm focused on Bitcoin today as Bitcoin continues its steady climb towards 10,000 crypto traders are closely watching whale movements connected to the leading cryptocurrency again here's the Twitter page the Falls fun to fall the whale alert is at on twitter at whale underscore alert at whale underscore alert hours ago a large bitcoin holder moved 2,000 BTC worth 18 point 6 million under the crypto exchange by dance work potentially be sold for other alt coins or cash the 2,000 Bitcoin is only part of the whales total Bitcoin holdings the owner still has four thousand and fifty three BTC remaining in the original wallet so far bitcoins price remains undeterred the king of crypto is up 042% 293 52 according to coin 360 at the time of publishing meanwhile and that's XRP we will skip that because we're finance focused today alright so the next article this is interesting this new crypto app so check this out new crypto app aims to make everyone's bank account speak Bitcoin a new Bitcoin app aims to revolutionize how everyday people interact with the world's most popular cryptocurrency by using a debit card or bank account the strike app allows consumers to make payments in BTC according to the developer in zap CEO Jack Mahler's anyone can link their bank account directly to Bitcoin allowing shoppers to easily spend it in enabling merchants to simply accept it without having to interact with it the transactions are settled a dotter dollars which get directly deposited to the merchants bank now says Mahler's strike is designed to usher in an era of Bitcoin that we believe has the best shot of achieving our mainstream hopes and desires the app is designed to deliver BTC instantly via the Lightning Network enabling fast and secure transactions at scale by linking traditional bank accounts directly with Bitcoin the app cuts out plenty of the technical hurdles that are prevented every day shoppers and merchants from adopting BTC mallards poses the question what if everyone's bank account could speak Bitcoin to use Bitcoin he says there's no need to download a lightning wallet or write down a seed phrase or deal with protocols or custody solutions or check off a list of other demands that remain too high for millions of people the complexities of using BTC and understanding how it works are kept under the hood so that low tech consumers don't feel the need I can don't need a computer science degree to buy a cup of coffee very interesting so check him out Jake Mahler's and you can see them on Twitter is at Jake Mahler's J ack mal L ers there's a little video clip here about a minute and then he has a second video clip here of about 43 seconds I'll let you check out the first one if you want to go to his page but what I'm gonna do is I'm gonna pay to play this one real quick it's only 43 seconds or you can see here here is a strike iOS demo he makes a 50 cent deposit from his bank account and pay a 2 cent lightning micro payment to read an article from y'all's door or y'all's org here we go guess there's no sound so I'll just go watch this together seems pretty easy so again he made it 50 cent deposit from his bank out and paid two cents and lightning micro payments to read an article alright thank you he adds we aren't just changing how Bitcoin looks but also how it feels were changing a consumers relationship with Bitcoin and lightning how it is used and how does viewed or open up new ambitions new ideas new possibilities and a new mainstream audience strike is available on iOS Android desktop and as a browser extension so hey we applaud anymore all the time any forward momentum at all in the crypto space we you know ripple has had a lot of forward momentum as a corporation and of course with their digital asset XRP you can see Bitcoin here using leveraging Bitcoin lightning Network so we we always talk about regulatory clarity that is needed in this space as well so it doesn't stifle this type of innovation so one awesome to see more use cases out there so thank you to that individual for sharing that and number to continue to push for regulation in the crypto space so let's see women in the article here yeah this is Mike Novogratz says investment advisers will power the next wave of Bitcoin adoptions billions flow and into crypto infrastructure so he was speaking at a conference in Miami so this is Mike Novogratz he's the digital Galaxy digital founder he just detailed how he expected the next wave of a Bitcoin adoption to play out through registered investment advisors the cut that context summits event a two-day networking event sponsored by galaxy digital fidelity digital assets grayscale TD Ameritrade Morgan Stanley and several other investment giants bringing together qualified investors hedge funds and down and foundation alligators with only 5% of endowments invested in Bitcoin novigrad says that the penton's are slow to move in all to an alternate asset to tip the dial propel Bitcoin to its full potential as the world's digital goal Novogratz says the industry will need more robust infrastructure so I just wanted to kind of talk about that was interesting because he was at the summit all these groups were there and just amazing how many and people the institutions are getting involved this was just interesting bit flyer now offers the United States users 0% fees when buying Bitcoin with USD so just more you know people in United States now have zero fee option to buy Bitcoin with US dollar so check that out bid flower operates in 47 states the United States and holds a New York Bittan license all right the last thing I wanted to go over this was interesting because it's from CNBC and it says this is the right amount of Bitcoin to keep in an investment portfolio these are three key points price volatility notwithstanding virtual currency is here to stay again this is Ric Edelman saying this founder of the Edelman financial engines but this is on CNBC's website next bullet allocating 1% of a portfolio towards Bitcoin could give you exposure to the asset without damaging finances at its zenith on December 15th 2017 one Bitcoin was worth close to 20 grand and the price is now around ninety three ninety four hundred dollars so I just thought this was interesting because one those are the three bullet points we can go over right now and just keep it at that but to that it was on CNBC's website so there's continuing talk about Bitcoin you know what that means if they're talking about it things are going on behind the scenes so let me know what you think about Bitcoin and that price I'd say market cap prediction of the first individual of eight trillion dollars and how the Dow plunged the Bitcoin was bouncing back over the last few days of course the crypto app strike that we just went over some more use case in the crypto space and specifically here Bitcoin what these investment advisors are saying let me know in the comment section below what you think about Bitcoin the crypto space in general and we've had a little discussion here in the in the comments section I always love feedback from everybody's and I respond to all comments so again like I said the beginning the video if you're already subscribed to the channel thank you very much if you're not a subscriber yet I would be honored with your subscription of the channel hopefully I've earned your trust and 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