Did you think the monetary REVOLUTION would be SMOOTH with NO BUMPS?

Did you think the monetary revolution
would be smooth with no bumps? Of
course, there’s going to be bumps. When
there’s a radical changeover, when
everybody goes from one technology to
another technology, whether it’s from
gas-powered cars to electric cars, the
stock price of Tesla is all over the
place because people are speculating how
fast will it happen, how completely will
it happen. Nobody knows all of these
things. When the entire world went from
analog to digital with the internet,
there was huge spikes in internet stocks
and then they crashed and then they
spiked and then they crashed because
nobody could figure out how fast and how
big the internet revolution was going to
be. Ultimately, the internet runs
basically everything now, but that took
time and nobody knew how long that was
going to be and what that was going to
be like. So, Bitcoin is an absolute
monetary revolution. Did you think there
would not be bumps in the road? In fact,
there’s no conceivable way that Bitcoin
was going to start and then 3% of the
world was going to adopt it and after
three 33 years and a third, the whole
world’s adopted Bitcoin. Nothing happens
that way. It doesn’t matter if you’re
moving moving from um horses to to
automobiles or the internet or the
printing press. Anytime you have a
revolution that you can invest in, which
means you can actually tell the stock
price. The stock price goes up and down.
It’s going to be a wild bumpy ride.
Everything is like that. Uh the birth of
new technologies just like the birth in
real life is violent. It’s up and down.
It’s start and stop and go. It’s start
and stop. It’s uh that is the way new
technologies and new adoptions of
everything happens. So, and let’s let’s
run a little thought experiment here.
Let’s assume Bitcoin was invented and
exactly 3% of the world was adopting
Bitcoin every year for 33 and 1/3 years
until 100% adoption. Now, if onethird if
3% of the world is adopting every year,
don’t you think some people are going to
catch on that that trend is happening?
And what are they going to do? They’re
going to try to frontr run that trend by
buying a bunch of Bitcoin with the
anticipation it will be a lot more
valuable later when more of the world
adopts. But then as soon as a bunch of
people try to frontr run that like they
did in 2010 and 2011 then the price
crashes because it becomes clear that
it’s going to take longer than they
thought for the world to adopt Bitcoin.
So they panic, they freak out, they sell
the Bitcoin that they had bought. The
price crashes in 2012. Then the same
thing happens in 2013. Everybody’s
positive that worldwide adoption is
right around the corner. The price
crashes in 2014 because it’s clear it’s
going to take a little while. The price
goes way high in 2017 because everybody
thinks worldwide Bitcoin adoption is
right around the corner. The price comes
down in 2018 because it’s clear it’s
going to take a little while. The price
runs up in 21. Same price runs high in
25. Guess what? We are adopting
worldwide Bitcoin right now. It’s
happening underneath the surface. Little
by little, the world is adopting to a
Bitcoin standard and Bitcoin is little
by little being adopted worldwide. But
the price of Bitcoin, which is reflected
literally 24/7 in the price you can look
at in River or uh Robin Hood or Coinbase
or any app, you can see the real time
price that’s reflected by that adoption.
And that price has relatively violent
swings because everybody’s speculating
how fast that adoption will happen. One
day everybody’s positive is right around
the corner. The next day everybody’s
positive. It’s going to take a little
while. Guess what? It’s somewhere in
between. It’s going to take somewhere
between a while, but it’s not right
around the corner. But it’s not going to
take forever. It takes people a while to
understand radical new technologies. It
always has. It always will. Patience is
the key. The world is adopting Bitcoin.
Bitcoin is on sale right now. The price
of Bitcoin will continue to go up and
down as we get closer to full adoption.
The volatility of Bitcoin is still
radically lower today than it was
historically because the adoption of
Bitcoin is much higher today than it was
historically. We’re still at only like
five 5% 6% something like that of the
world owns any Bitcoin. It’s probably
less than 5% of the world owns any
Bitcoin. But again the rest the people
who do own Bitcoin are speculating on
how fast the worldwide adoption will
happen which causes the price to
overshoot and then undershoot and then
overshoot and then undershoot. Now what
is the perfect exact right price of
Bitcoin based on worldwide adoption? The
answer is nobody knows because nobody
knows. Nobody has perfect knowledge of
the exact trajectory of current Bitcoin
adoption and future Bitcoin adoption.
Nobody knows exactly what that is. and
therefore what the exact price ought to
be right now if there was no speculation
up or down. See, right now there’s a
bunch of people speculating that the
price will go up because of worldwide
adoption. There’s a bunch of naysayers
shorting Bitcoin, which means betting
that the price will go down. They will
ultimately be proved wrong in the long
term. But in the short term, when you
short an asset, it pushes the price
down. That’s just how it works. So right
now there’s no way of knowing the
perfect exact real market price of
Bitcoin other than the price you see
which is the price that people are
trading Bitcoin with each other for
right now. Is that above or below the
price it would be if you had zero
speculation in the market and the price
was only reflective of actual supply and
demand by people who intended to use
Bitcoin as money. I don’t know. Maybe
the price today is exactly right. Maybe
today at whatever it is, $85,86,
$87,000,
maybe today is the exact perfect price
that represents adoption. And maybe we
were above that price earlier because
people were speculating and they got a
little ahead of themselves. Maybe we
will drop below the price that is
reflective of adoption because people
will get too bearish, meaning too
pessimistic, and they will or they’ll
start shorting it thinking it’s going to
go down when it decides not to. I don’t
know. All I know is that long term the
world will adopt Bitcoin because it is
better money. The fundamentals of its
divisibility, durability, portability,
fungeability, verifiability, and
scarcity. Those six attributes make
Bitcoin better than any other money in
the world. Better money out competes
less good money. The US dollar is not
scarce. The government’s printing
unlimited amounts of it, you know, which
is why we have inflation. And it’s why
the value of the dollar has dropped in
half in the last 15 years or whatever.
Like come on. The whole thing is insane.
Bitcoin fixes that problem. Bitcoin will
be the future monetary system of the
world. It’s just going to take time.
Right now Bitcoin is on sale. It is a
fantastic to buy time to buy Bitcoin.
And if you hold it on to it long enough,
you can buy stuff at a radical discount,
which is what I do literally every
single day. So buy as much Bitcoin as
you can. Hold on to it for as long as
conceivably possible. The same advice I
have always never changes is that
advice. Buy as much Bitcoin as you can.
Hold on to it for as long as conceivably
possible. And one day you can spend that
Bitcoin and buy everything massively on
sale. And that is what I do now. And
that is what I will do in the future.
And now is a great time to buy Bitcoin.