you know sum that up for me so when it comes to thinking about the next cycle if it hits over a
million or certainly in the future when it hits a million 10 million 100 million what if if only
where is that demand coming from it is it coming from more elons more business owners you mentioned
some countries where does the demand come from yeah it's a good question so like I think if you
look at the adoption metrics today uh let's say somewhere around uh 10 of like Americans own a
meaningful amount of Bitcoin all right uh that's actually an undershoot based on what like Kraken
and coinbase data says uh of like they're in Gemini like they're us users but let's
just say it's 10 I think that's fair it's not just about going from 10 to 90 percent U.S uh
investors owning Bitcoin but it's also about their allocation right so you know uh uh most people who
are sitting on uh you know podcasts and this point in the cycle it's not that they've got one percent
of their allocation uh you know their Network in the Bitcoin they've got a hundred percent or
70 or like something way higher and so you know where this comes from is not only the adoption of
Bitcoin in terms of just like more people buying it and using it but it's also about it becoming
more and more of the financial asset that people are comfortable with in their own use in general
uh and so that's a huge uh aspect of the driver you know instead of 10 with uh uh you know 10 of
their wealth in it 90 with 90 of their wealth in it uh uh like that's where we're headed I'm not
saying it's gonna happen next cycle but that's where we're heading added and so then that's
one factor secondly you've got a lot of countries around the world who are flirting with uh Central
Bank digital currencies Nigeria is definitely one to be keeping track of I think that the situation
there is fascinating uh uh you know they to catch people up basically they've implemented
their Central Bank digital currency and they've deprecated cash uh they're saying basically you
can't use cash anymore you have to use their cbdc and this is already a country that's adopting
Bitcoin at a pretty surprising rate uh and so you know are people going to move to a like
Financial surveillance tool given to them by their government that it eliminates all like non-taxable
markets you know like uh all black markets you know you can't pay your babysitter with uh
Central Bank digital currency without registering that with your tax you know that's just not what
people want right they want to get government out of their lives on their financial lives and so I
see tons of people in that situation moving to bitcoin in a pretty very meaningful way uh and
so like that's just a fast-growing country and then we're talking about uh companies you know
companies that do international trade as more and more Forex transactions become very difficult to
navigate Bitcoin is a settlement layer for for just about anyone it's a much easier way to do it
uh don't have to go through any banks don't have to worry about anything getting seized you know
like this it's so much easier it's a much more simple process to move money internationally uh
uh if you're just international corporation and then you get to countries I think all of these
things are in play in the next cycle I think you will absolutely see like another country maybe
two maybe five maybe ten like maybe more uh uh start holding Bitcoin on their balance sheet in
a really meaningful way uh so yeah I mean you know and that's on top of like again this like
10 to 90 allocation right El Salvador currently has you know uh a decent slug of money but you
know by no stretch maybe like uh 10 20 70 mil like somewhere in that range like tens of millions of
dollars in Bitcoin currently uh they're trying to issue a Bitcoin bond for a billion dollars right
like they're they're already looking at a you know 100x of what they're currently allocated plus you
know they have a growing GDP like where are they going to store that uh uh the excess they're not
going to store it in US Dollars I can tell you that so they're gonna be buying more Bitcoin so
you know that's also a trend to be watching so I don't know there's a lot of different
disparate threads but that's kind of where I see the adoption coming from the next cycle
so I don't know if you've ever thought about this I'm sure you know people I know people
who own Bitcoin oh and some I think a lot of Bitcoin more than .01 more than 0.1 I assume
you know I don't know for sure but what is to become of those people if Bitcoin hits those big
numbers is Natalie Burnell and Peter McCormick now the new you know you know Elon musk's and
Jeff Bezos like seriously like the people who own like big chunks of Bitcoin now and will hold you
ever think about like what's gonna happen are they gonna just be the the richest of the rich
yeah so I mean I think you have to look at like uh uh when when we go to a number like a hundred
million dollars in Bitcoin right like in 10 years uh a bold claim I know but when you're looking at
that all right that is a uh uh roughly what if uh 50 000 X from here five thousand X from here
I'm bad at math right now uh let us know in your comments 5000 x uh from here uh
and sorry if I'm wrong on that so that would make uh uh the Bitcoin market cap somewhere around uh
uh in the quadrillions is that right maybe like two quadrillion um so yeah I mean you're looking
at a scenario where like the Bitcoin market cap is a bit divorced from current reality in terms
of like how big it's getting and the reason why I think that happens is because you're
going to see hyperinflation of currencies uh and so you know the the it means like you know
to some extent like both bitcoin's value is going to be growing and the denominator by which we are
measuring it will be shrinking uh and so you know it's hard to say like what does that get
you in terms of purchasing power in the future definitely a tremendously more purchasing power
than you have today but I don't think it's the same amount of purchasing power as if you had
100 million dollars today uh so you know that it's kind of the cop-out answer is to say I don't know
exactly what that will mean for them and how rich they will be but here's what I do know is that uh
uh if you create a system in which the people who were non-consensus contrarian Believers
in Bitcoin early on right and they they poured their souls into kind of uh uh helping you know
increase adoption around the world those people have a certain set of values and a certain way
of thinking that uh enables them to allocate resources in a way that Society currently is
not and so the the bullish case on those people becoming wealthy uh uh or the wealthiest folks in
society is that they'll be funding the things that they think is important and so that's refunding
you know uh how we do education that's refunding how we do uh Investments which I think you know
you'll see a huge amount of investment into energy and energy security and renewable energy and you
know uh uh growing energy capacity in developing countries and uh so I think that's going to be a
huge thing I think uh uh you know uh uh governance I think some of these people will kind of become
the leaders of their local communities and those local communities could be way more wealthy than
what you know countries are today because you'll have like uh leaders who are willing to give back
to their communities like that so you know uh it's an interesting kind of topic to explore in terms
of like what do these whales look like in a hyper bitcoinized world uh there's plenty of dystopian
takes as well uh uh you know it's not too hard to imagine the the classic who will pay for the roads
you know kind of trophy things when when you're talking about like a potential where all these
people are bigger than governments right but uh uh you know the short of it is is I think it will be
a realignment of the values of society uh and they those values will be realigned behind what made
Bitcoin succeed in the first place and so I think that's ultimately a bullish thing for for everyone