Will Bitcoin Hit $1,000,000?

0:00I really do believe that you're going to have a million dollar bitcoin. I think we're going to be at 200,000 before we know it. I think we're going to have a phenomenal fourth quarter. Fourth quarter is always incredible for cryptocurrency. It's always been incredible for Bitcoin. It's probably your best quarter of all. You take that with money supply, exploding around the world right now. You take that, you add to the uncertainty. You take all the kind of fissures in the dam that are cracking right now. You better believe we're in the heyday of cryptocurrency and we're only on the one yard line with 99 yards left to go. Will Bitcoin actually hit a million dollars? Not some analyst desk outlook. This is not if you squint at the stock flow chart from 2019. I'm talking about a real seven figure print on the screen here for Bitcoin's price. Is this asset capable of climbing all the way on up to a million dollars a token? I'm talking. Is it possible that Bitcoin could rise from where it's at right now the mid 70,000 dollar region all the way up to a million bucks? That would be a 12 times move

1:00from where we're at. The tape this week is not some ETF commercial black rock and more inflows. There's two quieter things that are happening in the background. First up is Stanley Druckenmiller's De Quessney family office that just dumped Intel and micron. They fully exited these positions. 411,000 shares of Intel 23,000 shares of micron and they opened up new stakes in Bitcoin mining companies. This includes BitDear, Riot, Hut 8 and Iron. Let this sink in for a second. This is not just some telegram guy with laser eyes on the avatar. This is a five billion dollar family office walking away from chip names that everyone spent two years screaming about. Remembering in a buying the companies that burn electricity to mint coins and rent leftover compute to AI shops. They're not even buying Bitcoin proper. They're buying the pickaxes and the building the pickaxes sit in. When you're moving into mining companies you're not waiting for the next giant green candle. You're infrastructurally positioning yourself in Bitcoin production for the long term. This is a

2:04bigger bet on power and land and dual use racks in it. If this thesis actually does play out correctly, Bitcoin doesn't have to moon tomorrow or even the day after that for this trade to work. If Drunken Miller is incorrect about this move you're going to watch an absolute legend make one of his first major mistakes. I would actually be betting that Drunken Miller is playing the market like a fiddle. This guy does not make mistakes. One of the most decorated investors out there that is now taking the unpopular position of moving into Bitcoin mining infrastructure. I would not be betting against this man. He doesn't lose many bets. Another big piece of the undercurrent that is pushing Bitcoin towards this crazy price prediction is the story this next decade isn't going to be capital leaving gold for Bitcoin. It will be capital leaving treasuries for Bitcoin and gold. Bitcoin and gold are both positioning themselves very attractively against what treasuries can offer. The treasury yield is not outpacing or even keeping up with inflation. China is dumping treasuries at

3:04a record pace. We have countries across the planet that are getting ready to unwind their holdings of US treasuries. This is a capital movement that will be felt across the planet. Bitcoin and gold are uniquely positioned to capture the effects of people fleeing fiat currency and debt. Bitwise CEO Hunter Horsley laid it out last weekend in this post. This is a much different movie that crypto is telling us right now than it was in 2021. The old pictures that digital gold eats physical gold. But the real pitch now is the real pitch right now is that hard assets like Bitcoin and gold are what you reach for when your paper trail begins to look thin. When the paper of US treasuries begin to smell and investors start to call out the bluff from the Federal Reserve that they're going to raise interest rates into an inflationary environment that we're trying to grow our way out of. Now the timeframe for Bitcoin to hit a million dollars by 2030 in terms of one Bitcoin hitting a million dollars over the course of the next four years. That is a tough

4:06target to hit. I'm going to tell you I do feel that Bitcoin is indeed going to a million dollars. My real time horizon for that is not 2030 and here's why. Each bull cycle Bitcoin grows by a little bit smaller of a margin. It's called diminished returns. And now if we're assuming that this recent 55 57 thousand dollar mark is the bottom for Bitcoin in this local bear market. That means that on a diminished returns outlook. Just running the math as normal if things continue as we've seen them so far. That would leave you with a price target right at around 200 to 260 thousand dollars per token in 2029. Just to cut the difference within 2029 if for your cycle top to top to top matches then you're looking somewhere around the September, October timeframe. Each one of these tops has taken about a thousand four hundred days to reach from cycle peak to cycle peak over and over again on Bitcoin cycle. So if you run that math out a thousand four hundred days

5:08from the recent peak would land you at October of 2029. Now it and here's the math if Bitcoin hasn't shown its bottom yet. If Bitcoin's bottom is actually at the 40 thousand dollar mark Bitcoin doomsday that everyone's getting ready to buy Bitcoin at the absolute bottom together that would mean that you're at all time high of the next bull cycle blow off top should land right in around a hundred and seventy thousand dollars lowering your all time high target and basically just extrapolating the diminished returns and diminished losses data out even further that leaves you just shy of 200 K by 2029. If this math continues to play out I would be looking for a million dollar Bitcoin until somewhere around 2034 but we are embarking across the crescendo of the unknown for Bitcoin because the Bitcoin Strategic Reserve Act by the United States will take a few years to hash out at the very minimum once that goes into play and you have a nation state acknowledgement that

6:10Bitcoin is a portion of their holdings and a hedge and a backing for their fiat currencies then all bets are off. The moon math can go absolutely ballistic from there because right now gold is over thirty trillion dollars of market cap. Bitcoin is at a one point six trillion dollar market cap. There is a lot of ground that Bitcoin can gather against gold should the Strategic Reserve Act actually move forward in the US. Bitcoin is going to begin to act like a black hole of capital and interest because countries are going to want to hedge into it and keep up with the United States in their positioning and some countries are already front running the US on this. So can Bitcoin hit a million dollars by 2030? I think you're looking a little bit too hot and heavy with the moon math glasses on but reasonably by 2034 we can be reaching that crescendo point that point of no return where Bitcoin starts to be treated more seriously as an asset compared to gold and really at a one to 30 ratio that we sit right now there's a lot of ground that Bitcoin

7:12can gather and it'd be clear Bitcoin would need to accomplish a 20 trillion dollar market cap to reach a million dollars a token. That is a massive hill to climb up. National debt is on track to hit the 50 trillion dollar mark over the course of the next 15 years. Without any sort of stop the bleed to fiat currency across the planet there is a black hole being created and that direction is going towards gold it's going towards Bitcoin it's going towards real estate and hard assets. So yeah by 2035 I can absolutely see a million dollar Bitcoin. This number eventually will be real in my opinion but what we have to wait for is the strategic reserves to actually go into play by the economic superpower of the world which is the US. Other nations will follow in FOMO in because they don't want to have this country outpace them as Bitcoin continues to grow and then you get the self-fulfilling effect where these nation states race to the top. We're positioned ahead of this flood I appreciate your comments and let me know if you think Bitcoin is headed for a million

8:17dollars in your lifetime or if something else is going to take over the Bitcoin narrative. Looking forward to your thoughts and I'll see you on the next one.