Watching global bitcoin adoption is a bit like watching the appetite of an average person over time

00:01 Watching the Bitcoin price is a little
00:03 bit like watching the appetite of an
00:05 average person right now. Um, let me
00:07 know let me tell you what I think uh
00:09 that looks like. And here are some
00:10 thoughts on Bitcoin at $116,000.
00:13 So, you will notice that the marketplace
00:16 uh goes crazy every time the price of
00:18 Bitcoin changes. Everybody on crypto
00:20 Twitter, Bitcoin X, whatever you want to
00:23 call it, goes crazy every time the price
00:25 goes up and down. And all you’re really
00:27 watching is global adoption happen
00:29 slowly with a bunch of frenzied activity
00:32 on top of it of people who just can’t
00:34 restrain themselves and are, you know,
00:36 jumping around like jack rabbits. So
00:38 here’s what I mean. And I put in the
00:40 title of this video. It’s kind of like
00:41 watching the appetite of an average
00:43 person. So average person wakes up in
00:45 the morning. Everybody’s sitting around
00:48 watching this thing and they’re like,
00:50 “Oo, this person looks hungry. This
00:52 person looks hungry. This is going to be
00:54 amazing. This asset is going to be
00:56 amazing. This person is about to consume
00:58 an unlimited amount of food. It’s going
00:60 to be amazing. Euphoria worldwide
01:02 adoption. It’s going to be great. So,
01:04 the person starts eating breakfast.
01:06 About halfway through breakfast, they
01:07 start slowing down a little bit.
01:08 Everybody’s like, “Oh no, the world
01:10 doesn’t need food anymore. This person’s
01:12 never going to eat food ever again.
01:14 They’re slowing down. What does this
01:15 mean? What could this mean?” And, you
01:17 know, the price of the asset goes down
01:19 and the person wraps up breakfast.
01:20 Everybody’s like, “Oh, it’s so over. We
01:22 were so hopeful that food was a valuable
01:24 thing that everyone needed, but the
01:26 person has officially stopped eating the
01:28 food. Uh, it’s over. The assets’s dead.
01:31 We can all move on with life. A few
01:33 hours go by. The asset, you know,
01:35 listlessly uh hangs around. And the
01:38 person starts getting hungry again.
01:40 They’re like, “Food’s a big deal. Maybe
01:42 money is still an asset we’re all going
01:44 to use after all. Maybe money is
01:46 valuable. They look hungry again. Oh,
01:48 they’re so hungry. It’s lunchtime. This
01:50 is going to be fantastic. The person’s
01:52 going to start eating. They’re never
01:53 going to stop eating again. This is
01:55 going to be amazing to the moon. Asset
01:57 prices going wild mild. The person
01:59 starts eating lunch. It’s euphoria. It’s
02:01 euphoria. This is amazing. Worldwide
02:03 food adoption, you know, right around
02:05 the corner. They’re never going to stop
02:06 eating. Well, about halfway through
02:08 lunch, they’re like, they start slowing
02:09 down. Everybody’s like, “Oh no, demand
02:12 is weakening. What does this mean? Does
02:13 this mean the world will never eat food
02:15 again? Does this mean the world does not
02:17 need money ever again? Oh no, it’s all
02:20 over. It’s all over. or they finish up
02:21 lunch, everybody’s like, “Oh, it was fun
02:24 when it lasted. It was just two pumps
02:26 and then a dump and then they’re, you
02:28 know, they’re over. The world is over.
02:30 The asset is in the trash. It’s never
02:32 coming back again. Food is just not a
02:34 thing.” And then of course a few hours
02:36 goes by and it picks back up again
02:39 because it’s supper time and the
02:40 person’s hungry and they’re like, “Ooh,
02:42 Euphoria, worldwide adoption. It’s
02:45 amazing. Shoot for the moon.
02:46 Everything’s epic. Everything’s going to
02:48 be awesome.” And then of course, same
02:49 thing happens. Halfway through dinner,
02:51 they start slowing down the Oh, no, no,
02:53 no. There’s not going to be any demand
02:54 anymore. It’s all over. It’s all over.
02:56 They finish supper. Everybody’s like,
02:58 “They’re going to eat dessert. They’re
02:59 going to eat dessert.” And then, you
03:01 know, they don’t need dessert. And
03:02 everybody’s like, “Oh, no. The world
03:03 just doesn’t need food anymore. We’re
03:05 never going to use sound money. It’s all
03:07 over. Bitcoin was nice while it lasted.”
03:09 Of course, then the person goes to sleep
03:11 because they now had breakfast, lunch,
03:12 and dinner. and they go to sleep, which
03:14 is like Bitcoin’s every four-year, you
03:16 know, major price correction, which may
03:18 or may may or may not still be a thing.
03:20 We don’t know. I’ve done videos about
03:21 that. And they sleep for like 10 hours,
03:23 and everybody’s like, “Oh no, it’s so
03:25 over. Nobody will ever eat again. You
03:28 food is worthless. Sound money is no
03:30 longer necessary. None of it matters
03:32 anymore.” And then the person wakes up
03:34 and it goes over and over and over. That
03:36 is what it feels like watching the price
03:38 of Bitcoin right now. It’s like 124,000.
03:42 Oh wow, worldwide Bitcoin adoption. It’s
03:44 right around the corner. Everybody’s
03:45 going to use Bitcoin for everything
03:46 tomorrow. And then the price pulls back
03:49 just a little bit and everybody’s like,
03:51 “Oh, it’s so over. It’s $116,000.
03:54 This must mean there is no more, you
03:56 know, need for sound money anywhere in
03:58 the world. What was I even thinking?”
04:00 It’s like, come on, people. There will
04:03 always be a need for food because people
04:04 are always going to need to eat. There’s
04:06 always going to be a need for sound
04:08 money because the world needs money. We
04:10 talked about this a thousand times. The
04:12 world needs money so we don’t have to
04:13 barter. The the best money is the
04:16 scarcest money that still has the other
04:19 necessary properties of being divisible
04:21 and durable and portable and fungeible
04:22 and identifi unidentifiable, you know,
04:25 etc., etc., all the five to seven major
04:28 characteristics of money. And Bitcoin
04:30 has all of those better than anything
04:31 else anywhere in the world. And so guess
04:34 what? The world will adopt Bitcoin
04:36 worldwide as the new currency of the
04:38 future. It’s just happening slowly. And
04:41 on top of that incessant worldwide
04:44 demand, just the same way an average
04:45 person has an incessant perpetual need
04:49 for food their entire life, the need for
04:52 Bitcoin will continue to grow. It will
04:54 never go away. It will go in waves just
04:56 like a person who gets hungrier and then
04:58 less hungry and then hungrier and then
04:59 less hungry. The price of Bitcoin will
05:01 do the same thing. It will go up. It
05:03 will go down. It will go up and down. It
05:04 will go up and down on its way up. But
05:07 the real question is, does the world
05:09 still need food? Yes, cuz that’s what we
05:11 eat. The real question is, does the
05:14 world still need money? Is money still a
05:16 valuable thing that humans invented that
05:19 is valuable to because we need a way of
05:22 storing our time and energy for the
05:23 future so that we can buy things in the
05:25 future that we’re not ready to buy right
05:26 now. Yes, we need that in the modern
05:29 economy more so than ever before. In a
05:32 world where governments are debasing the
05:33 currency every which way, all fiat
05:35 currencies are losing money. Most are
05:37 worse than the US dollar, but even the
05:39 dollar is losing between 3% 4% up to 9%
05:43 a year. It’s insane. So, the world needs
05:45 money. Money is a thing the world needs.
05:48 The adoption will go in fifth and starts
05:50 just like a human appetite will be
05:52 stronger or less strong from time to
05:55 time. The human appetite goes up and
05:57 down on a cycle with three meals a day,
05:60 sleeping overnight, all of that is a
06:02 completely normal part of the human
06:04 appetite. And all of those same ups and
06:07 downs are completely normal part of a
06:09 technology adoption life cycle. The same
06:11 thing is true of Bitcoin. The adoption
06:13 of Bitcoin will not happen in a linear
06:15 straight line for all the reasons I’ve
06:16 explained in numerous other videos.
06:18 There will be fits, there will be
06:19 starts, there will be ups, there will be
06:21 downs, there will be huge runs, there
06:23 will be price corrections. None of that
06:26 means the need for money has gone away.
06:28 Humans have a need for money. We just
06:30 do. The best money wins over time, and
06:32 the earliest adopters of new money tend
06:34 to benefit much more so than the late
06:37 adopters of a new, more scarce form of
06:40 money, even though everyone in the long
06:41 term benefits. So, that’s where we are
06:43 right now. Everybody’s all over the
06:45 place on crypto, Twitter, Bitcoin X,
06:47 whatever you want to call it. Every time
06:49 the price moves a thousand dollars, it’s
06:50 either to the moon or the end of the
06:52 world. To the moon or the end of the
06:54 world. And we need to think about it
06:57 like a human appetite. The fact that
06:59 you’re not hungry right now does not
07:00 mean you’re never going to eat food
07:01 again. And the fact that you’re super
07:04 hungry does not mean you’re going to
07:05 perpetually eat food 24/7 for the next
07:07 75 years. Neither of those things is
07:10 true. It’s going to go up and down on
07:12 its way up. All of this is normal. You
07:15 should, you know, buy food when it’s on
07:17 sale. Buy Bitcoin when it’s on sale
07:18 because you’re going to need it. It’s
07:20 only a matter of time. And that’s just
07:22 how the adoption of these sort of things
07:23 work. So, same advice as always, buy as
07:27 much Bitcoin as you can, hold on to it
07:29 as long as conceivably possible. And
07:31 great thing is it’s on sale right now.
07:33 So, you can buy Bitcoin for cheaper
07:34 today than you did yesterday. And that’s
07:38 what I do. I buy Bitcoin every time I
07:40 can buy Bitcoin. I buy as much Bitcoin
07:41 as I possibly can. and I sit on it as
07:44 long as conceivably possible because
07:45 that is the formula that always works in
07:48 the long term in the world of Bitcoin.