Why isn’t bitcoin’s price higher? One day YOU will be the reason bitcoin’s price isn’t higher.

00:01 Why isn’t Bitcoin’s price higher? Well,
00:03 one day you will be the reason Bitcoin’s
00:06 price isn’t higher. Let’s talk through
00:08 it. Okay, so lots of things affect the
00:10 price of an asset. It’s obviously supply
00:12 and demand. So, the price of Bitcoin
00:14 right now is dependent on the supply and
00:16 demand of people in the marketplace in
00:18 any period of time. In the last 24
00:21 hours, there’s something like $50
00:23 billion of Bitcoin that’s changed hands
00:25 one way or another. For every seller,
00:27 there’s a buyer. For every buyer,
00:28 there’s a seller. And sure, there’s some
00:30 people trading and there’s options and
00:32 there’s, you know, all the stuff that
00:33 happens in every market. But the number
00:36 one reason Bitcoin’s price isn’t higher
00:39 is because people who have owned it a
00:41 really long time, much longer than me,
00:43 have decided to take some of their chips
00:45 off the table and improve the lives of
00:47 themselves and their family somehow. And
00:50 your first reaction to that is probably,
00:52 wait, that’s not fair. If they would
00:54 stop selling, my Bitcoin price would be
00:56 higher. But one day you will be the
00:59 reason that Bitcoin’s price isn’t
01:02 higher. You see, everybody at some point
01:05 decides that their wealth is high enough
01:08 that they want to improve the lives of
01:10 themselves and their families. Maybe
01:12 they put a down payment on the on a
01:13 house for the first time. Maybe they
01:15 upgrade the house they are in for the
01:17 first time. Maybe they buy an RV so that
01:20 they can drive with their family all
01:21 over the western part of the United
01:23 States on big car, you know, RV trips.
01:27 Um, I don’t know. Maybe it’s nice
01:29 vacations, maybe it’s whatever. But the
01:31 people who bought Bitcoin at a penny
01:34 found it irresistible when Bitcoin was
01:36 10 cents to do something nice to improve
01:38 the lives of themselves and their
01:40 family. The people who bought Bitcoin at
01:41 10 cents did the same thing at a dollar.
01:44 People at a dollar, same thing at $10.
01:46 People at $10, same thing at $100.
01:49 People at $100, same thing at $1,000.
01:51 People at $1,000, same thing as $10,000.
01:55 And people who bought Bitcoin for the
01:56 first time around the time when I did in
01:58 late 2017 and early 2018, which it was
02:02 around $10,000 at that time. Many of the
02:05 even those people, you know, they’ve sat
02:07 on Bitcoin for seven or eight years and
02:10 they’re starting to start families or
02:12 they’re wanting to upgrade from their
02:14 apartment in New York City to an actual
02:16 real house with a yard in New York City.
02:19 Whatever it is, some of those people
02:21 have decided that they’re sitting on a
02:23 lot more Bitcoin than they need right
02:25 now. And they value improving the lives
02:27 of themselves and their family more than
02:30 they value the 200 Bitcoin they owned or
02:32 the 2,000 Bitcoin they own or in the
02:35 early days the 20,000 Bitcoin they own
02:37 or whatever crazy number. That’s way
02:39 more Bitcoin than you or I have, but
02:41 they have it because they bought it when
02:42 it was way cheaper. One second.
02:47 Okay, so here’s what’s going to happen.
02:49 If you’re buying Bitcoin right now at
02:50 $110,000 and you’re patient and you sit
02:53 on it for 5 or 10 years, then you too
02:56 will experience Bitcoin going up by a
02:58 factor of 10. And the Bitcoin you bought
03:00 at $110,000 will be worth 1.1 million at
03:05 some point in the future. Again, maybe
03:06 it’s 10 years, maybe it’s five years,
03:07 maybe it takes longer, I don’t know, but
03:09 at some point. And at some point in the
03:11 future, because only 5% of the world’s
03:13 population currently owns Bitcoin, the
03:16 vast majority of the world’s population
03:18 will adopt Bitcoin when it is a much
03:20 higher price. A significant amount of
03:22 the world population will adopt Bitcoin
03:24 at a price higher than $1.1 million. And
03:28 when the price is $1.1 million and
03:30 you’ve made 10 times your money, the
03:33 price will be drifting about just like
03:35 it is now. It’ll get stuck for six
03:37 months or eight months or something like
03:39 that. And people will be like, “Why
03:42 doesn’t Bitcoin go anywhere? It’s been
03:44 going up and down between 1 million and
03:46 1.2 million and then back to 1.1
03:49 million.” All we’re doing is we’re going
03:51 up and down around $1.1 million. And
03:54 every time it starts to go north of $1.1
03:57 million, someone is selling it. And
04:00 that’s keeping the price from just going
04:02 higher. And that someone will be you.
04:05 Because if you own enough Bitcoin and if
04:08 your Bitcoin increases in value by a
04:10 factor of 10, I can promise you at some
04:13 point around $1.1 million per Bitcoin
04:17 when you’re sitting on a handsome 10x
04:19 your money from today, you too will have
04:22 the bright idea that maybe you should
04:24 build an expansion on your house. Maybe
04:26 you should buy an RV. Maybe you should
04:28 buy a house for the first time. Maybe
04:31 you should go on a nice vacation for
04:32 your family and your extended family. I
04:34 don’t know. whatever it is your thing
04:35 is. But the day will come when you even
04:38 you are the reason the Bitcoin price is
04:41 not higher because even you are selling
04:44 some of your Bitcoin to improve the
04:46 lives of you yourself and your family.
04:48 And guess what? That’s what money’s job
04:50 is. Money’s job is to enable you to
04:52 improve the lives of yourself and your
04:54 family and the people around you.
04:56 Donating to Christian missions or
04:58 whatever it is your thing is. Um money
05:01 enables you to do that. And the more
05:03 money you have, the more you can do
05:04 that. And if your money increases in
05:07 value enough, I promise you’re going to
05:08 want to do some of that. Probably more
05:11 than whatever it is the amount of it
05:12 you’re doing right now. And so at some
05:15 point, let’s call it 1.1 million. We
05:17 will be, you know, listlessly bobbing
05:20 around around 10% above, 10% below, one,
05:24 you know, 1.1 million. It’ll just seem
05:26 like Bitcoin is completely stuck for
05:28 like six or eight months. And someone on
05:30 Twitter will say, “Who’s selling? Who’s
05:32 selling? Why isn’t the price higher? Why
05:35 have we been at $1.1 million for six or
05:37 eight months now? Someone must be
05:40 selling.” And you will be sitting there
05:42 on a nice vacation enjoying the
05:44 expansion on your house. Uh living in a
05:47 house that’s a better fit for you and
05:48 your family than whatever you had
05:50 before. And that someone will be you
05:52 that is selling Bitcoin. But guess what?
05:54 Even you should be thankful for the
05:57 people who bought Bitcoin way back and
05:59 are selling it because if they didn’t
06:01 sell it, you couldn’t buy it. So, let’s
06:04 assume back back in 2017 and 2018 when I
06:08 was buying my first Bitcoin around, you
06:10 know, $9 $10,000, let’s call it $10,000
06:13 for an even round number. Um I back then
06:16 people were complaining that Bitcoin’s
06:18 price wasn’t going up fast enough and it
06:20 had been around $10,000 for too long. I
06:24 forget how long it was around $10,000,
06:25 but I don’t know, 6 months, 8 months, it
06:27 had been a long time. Because when, you
06:28 know, when you hit those big round
06:30 numbers, a lot of people, you know,
06:31 think, wow, $10,000 of Bitcoin. Never
06:33 thought it would get there. And then
06:35 they have bright ideas for how they’re
06:36 going to improve themselves, uh, their
06:38 lives for themselves and their families,
06:40 and they spend some. So, every time you
06:41 get above 10,000, somebody has the
06:43 bright idea that, ooh, it’s back above
06:45 10,000. I guess I can afford that nice
06:48 thing that improves the lives of myself
06:49 or my family. So it Bitcoin it took a
06:52 while till it was consistently above
06:54 $10,000 because every time it went above
06:56 $10,000 some bright, you know,
06:58 brighteyed bushy tailed person would
06:60 decide that they were up 10x on their
07:01 investment and they would decide to buy
07:04 some, you know, buy something nice with
07:05 their Bitcoin. But had they not been
07:08 selling Bitcoin back then, I could not
07:10 have bought Bitcoin at $10,000. Now,
07:12 I’ve bought Bitcoin at every price,
07:14 including $122,000. The the most
07:16 expensive Bitcoin I’ve ever bought is
07:18 $122,000.
07:19 uh like a month or two ago. Um so I
07:21 bought it at every price, but I could
07:23 not have bought that initial Bitcoin
07:24 that I bought back then. I could not
07:27 have bought that initial Bitcoin unless
07:29 someone was selling. If everyone who
07:31 ever accumulated Bitcoin never sold,
07:34 then I’d be stuck buying it for more
07:36 than a million a coin. You’d be stuck
07:38 buying it for a million dollars a coin.
07:39 Nobody’d be able to to buy Bitcoin for
07:42 $109,000
07:43 right now unless someone somewhere was
07:46 selling. So, uh, the same people that
07:48 complain that the price is suppressed
07:50 and that, you know, they wish, you know,
07:53 the price would go up, some of those
07:55 same people are the same people who say,
07:57 “Ogs have too much Bitcoin?” The
07:59 original people, OG’s, OG’s, original
08:02 Bitcoiners have too much Bitcoin. Well,
08:04 guess what? How do you think they’re not
08:06 going to have as much Bitcoin? They’re
08:07 going to sell some of their Bitcoin. So,
08:09 if you’re worried about Bitcoin, uh,
08:11 OG’s having too much Bitcoin, guess
08:13 what? The reason the price isn’t higher
08:15 is because some of them are selling that
08:17 Bitcoin to you. And you and everyone
08:20 else in the world is benefiting from the
08:22 ability to buy Bitcoin at $109,000 a
08:25 coin. At some point in the future, that
08:28 will no longer be possible. Just like it
08:30 will never be possible ever again to buy
08:32 $10,000 Bitcoin. It will probably never
08:35 be possible ever again to buy $50,000
08:37 Bitcoin. I don’t know. There’s a good
08:39 chance you’ll never see $75,000 Bitcoin
08:42 for the rest of your life. Who knows? We
08:44 could go through some World War II
08:45 massive recession and dip down there
08:47 temporarily. I don’t know. But if people
08:50 were not selling, then all of the
08:52 original Bitcoiners would own all the
08:54 Bitcoin or a huge percentage of it. They
08:57 don’t. The original Bitcoiners own way
08:59 less Bitcoin than most of us think
09:01 because every time it went up in value
09:03 by a factor of 10, they sold some, which
09:06 is how you and I can buy Bitcoin at
09:07 $109,000. And it’s why over time, even
09:11 us, even we, people like you and me that
09:13 are trying to acquire and accumulate
09:17 Bitcoin in every conceivable way we can
09:19 right now, even people like you and me
09:22 at some point in the future are going to
09:24 kick back and decide it’s time to do
09:26 something nice for ourselves. And I’m
09:28 just picking around number $1.1 million
09:30 per coin because it’s about 10 times
09:31 what it is right now. And what it is
09:33 right now is about 10 times what it was
09:35 when I first started buying Bitcoin.
09:37 Now, I’m still in Bitcoin accumulation
09:38 mode. I’m 45 years old. My goal is still
09:41 to get my hands on as much Bitcoin as I
09:43 possibly can. But the day will come for
09:46 me and for you when you look at the
09:48 total amount of the value of your
09:49 Bitcoin and you say, I want something to
09:52 improve the lives of myself and my
09:53 family more than I want this amount of
09:56 Bitcoin. That day will come. That day
09:58 comes for everyone. No matter how
10:00 certain you are certain it won’t come.
10:02 And when that day comes, someone
10:04 somewhere in the world will be
10:05 complaining that the price of Bitcoin is
10:07 suppressed, that someone is selling who
10:09 shouldn’t be. And you know what? It’s
10:11 money. So at the end of the day, you’re
10:13 going to use it like money eventually,
10:14 just like everyone else. Until then,
10:17 until you’re up 10x on your investment.
10:19 My advice, buy as much Bitcoin as you
10:21 can and hold on to it for as long as
10:23 conceivably possible. When you are way
10:26 up on your Bitcoin investment, you’ll
10:28 know, you’ll feel it. You’ll you’ll
10:30 understand that, hey, there’s some
10:32 things in the world that I want more
10:34 than a massive Bitcoin stash. But for
10:36 the vast majority of people, including
10:37 me and including probably everybody
10:39 watching this video, you’re not there
10:41 yet. You’re still trying to get to
10:42 whatever your minimum goal is to have as
10:45 much Bitcoin as you want to have. And
10:47 for me, that number is more than I have
10:49 right now. And my guess is for you, that
10:50 number is more than you have right now.
10:52 But the day will come when you are the
10:54 reason the Bitcoin price is not going
10:55 higher because you are improving the
10:58 lives of yourself and your family. And
10:59 at that po point in time, you will be
11:02 very thankful that Bitcoin was there for
11:04 you to take you from here to there. And
11:07 someone in the future will get Bitcoin
11:09 and it will take them from there to
11:11 somewhere in their future. And when
11:13 money serves everyone’s purpose by
11:15 growing in value over time, that is the
11:18 way money works. And even when 100% of
11:21 the people in the world own Bitcoin,
11:23 it’s the universal money of the world
11:24 and everyone uses it, it will still go
11:27 up by 3% per year, every single year,
11:30 because humans get 3% better at making
11:32 stuff every year. So money that is not
11:35 being inflated away by the government,
11:37 constantly being diluted, would go up 3%
11:40 in value every single year, no matter
11:42 what. If the US government just cart
11:44 blanch stopped printing money, the US
11:47 dollar after it the whole economic
11:50 system adjusted to the fact that they
11:51 were done printing money, the US dollar
11:53 would increase in value 3% per year
11:56 because again, if there’s a fixed amount
11:58 of dollars and we get 3% better at
11:60 making stuff, then your US dollars would
12:02 go up 3% per year. But they don’t
12:04 because the US government prints 7% more
12:07 uh US dollars every year. Some of that
12:09 is uh absorbed by emerging economies
12:12 whose currency is in a freef fall like
12:15 Zimbabwe and you know Argentina at
12:18 various points and Venezuela and Nigeria
12:21 and Turkey. Some of that 7% is absorbed
12:23 by emerging market economies but most of
12:26 that shows up in inflation meaning your
12:28 purchasing power drops. So your
12:30 purchasing power buys you 3, four, 5%
12:32 less every year and the rest of that 7%
12:35 of the money they’re printing gets
12:36 absorbed by uh emerging nations. But
12:38 your money should go up 3% a year even
12:40 when it’s 100% adopted worldwide. But
12:42 right now only 5% of the world owns any
12:44 Bitcoin. So you’ve got 95% of worldwide
12:47 adoption yet to come. Which means not
12:50 only do you have a huge economic upside
12:52 uh to the price of Bitcoin as the world
12:54 adopts Bitcoin. But even when the very
12:56 last person in the entire world adopts
12:59 Bitcoin, it will still go up 3% per year
13:01 and even they will benefit. That is the
13:04 beautiful world of money that works like
13:07 money was intended and it’s a beautiful
13:09 thing. And uh anyway, when money serves
13:11 you instead of serving th those in power
13:14 and those with the magic money printer,
13:16 it is a beautiful thing. And I hope and
13:18 pray that you benefit from Bitcoin the
13:20 way I have and the way so many others
13:21 have by sound money that nobody can
13:23 print more of that serves you instead of
13:27 the other way out.