Will bitcoin hit a new All Time High (ATH) today?!?

00:01 Will Bitcoin hit a new all-time record
00:04 high today? Uh, the answer is we don’t
00:06 know. Probably, maybe, who knows? But
00:09 it’s the wrong question. The right
00:11 question is how much Bitcoin do you own?
00:14 And how much what percent of the Bitcoin
00:16 that you own is of your total net worth.
00:19 Uh, so the way Bitcoin works is back
00:22 when Bitcoin was $10,000, people were
00:24 telling me, which was I was, you know,
00:26 actively involved in that range back in
00:28 2017 and 2018 when it was below $10,000
00:32 for quite a while. Everybody I ran into
00:34 said the same thing, which is I, you
00:36 know, I wish I’d gotten into Bitcoin a
00:38 lot earlier, or if they owned any
00:39 Bitcoin, they said, I wish I had bought
00:41 a lot more Bitcoin, but you know, now
00:44 it’s like $10,000. Like, it’s so
00:46 expensive now. And I feel like I sort of
00:48 missed out. I feel like I sort of missed
00:49 the boat. I’m late to the party. So, you
00:52 know, most people just either sat on the
00:54 Bitcoin they already had without buying
00:56 anymore or if they did not own any
00:59 Bitcoin, they did not buy any cuz they
01:02 thought, well, why would I buy it now?
01:03 It’s like 10 grand. Well, of course,
01:05 people have been saying that exact same
01:06 thing since it was worth a penny, 10
01:08 cents, a dollar, $10, $100, $1,000,
01:12 $10,000. I mean, here we are at $100,000
01:15 and people are literally saying the
01:17 exact same thing they said about Bitcoin
01:20 at $1, which is, well, if I was going to
01:23 get involved with Bitcoin, I should have
01:25 done it sooner. And, you know, I’m kind
01:28 of late to the party and I missed out
01:29 and all that sort of stuff. No, only 5%
01:32 maybe 5% of the world owns any Bitcoin.
01:35 And the vast majority of the Bitcoin
01:37 that is owned by those people is a very
01:39 small percentage of their net worth. So
01:41 if you ask if you walk into a random
01:43 restaurant with 100 people in it and ask
01:45 them how many people own business
01:46 Bitcoin, maybe five five of the 100
01:49 people, which is 5% would raise their
01:51 hand. If you then ask them to be honest
01:53 how much Bitcoin they own, you’d
01:55 probably in a random restaurant with 100
01:57 people in it, one of them probably owns
01:59 20 bucks, one of them probably owns 50
02:02 bucks, one of them probably owns a h
02:03 100red bucks. One of them owns 200
02:04 bucks. And one of them probably owns a
02:06 few thousand dollar. And as a percentage
02:08 of the net worth of each of them, it’s a
02:10 very small percent. And obviously, as
02:13 the percentage of the net worth of the
02:14 other 95% of the people, the other 95 of
02:17 100 people, the percent of their net
02:19 worth that initi is in Bitcoin is zero
02:21 because they don’t own any. So, we’re
02:23 sitting here at
02:25 $105,000, just a few percentage points
02:27 from the highest Bitcoin has ever been
02:29 in history. And people are saying the
02:31 exact same thing they’ve said all along,
02:34 which is, “Well, yeah, you’re right.
02:37 You’re right about Bitcoin, Joel. But if
02:39 I were going to buy Bitcoin, I should
02:41 have bought it a lot cheaper. And uh you
02:44 know, now it’s too late. I missed the
02:46 boat. I’m late to the party. Blah blah
02:47 blah. Same thing as always. Um that’s
02:50 not true. The price of gold, the literal
02:52 yellow rock that you dig out of the
02:54 ground. Uh the price of gold is more
02:56 than 10 times the price of Bitcoin right
02:59 now. So, Bitcoin can can increase in
03:02 value by 10x 1,000.
03:05 uh what is that whatever that is 1,000%.
03:09 1,000% 10x from today’s price before and
03:12 it hasn’t even passed the price of gold.
03:14 Gold is still more valuable than Bitcoin
03:16 even if Bitcoin 10x’s from where it is
03:19 today. So, and that’s before Bitcoin
03:21 really breaks a sweat. Um, you know,
03:24 once it 10xes from here, once it’s above
03:26 a million dollars coin, now we get into
03:28 discussion of how much better Bitcoin is
03:30 than gold. It can 10x in value without
03:33 even having to be better than gold. It
03:35 can be Bitcoin can 10x in value without
03:38 even surpassing the price of the value
03:40 of gold right now. And what I’m
03:42 referring to is the total value of all
03:43 the Bitcoin versus the total value of
03:44 all the gold. So all the gold in the
03:46 world right now is worth the last time I
03:48 checked like $22 trillion. Maybe it’s
03:50 23, maybe it’s 21, but low 20 trillions.
03:53 And Bitcoin is just 2 trillion. So two
03:56 trillion versus more than 20 trillion.
03:58 Gold is worth 10 times more than
04:01 Bitcoin. And so Bitcoin has a lot of
04:03 headroom before it even breaks a sweat.
04:05 And again, what do you think’s going to
04:07 happen when the other 95% of the world
04:09 buys Bitcoin? And when the 5% who
04:11 already owns Bitcoin buys a lot more
04:14 than 20 bucks or 50 bucks or 100 bucks
04:16 or 200 bucks, the answer is the price is
04:17 going to be way higher. So is Bitcoin
04:20 going to hit an all-time high, record
04:22 high today? I don’t know. It might. Good
04:24 chance, but it might not. But what
04:27 really matters is how much Bitcoin do
04:29 you own and what percent of that is is
04:32 that of your total net worth? Because if
04:35 you feel if you’re if the answer is well
04:37 you you own $1,000 of Bitcoin and that
04:39 feels like a lot, but you’ve got, you
04:41 know, $80,000 in your retirement fund
04:44 and $19,000 split across two bank
04:47 accounts or whatever it is, then if your
04:50 net worth is $100,000 and you have
04:52 $1,000 of Bitcoin, you have 1%. Which
04:55 means if it 10xes in value, you’re going
04:57 to have 10% more net worth than you
04:59 already had. And for an asset that has
05:03 such strong upside potential and at this
05:06 point comparatively low risk, it is a
05:08 shame in my opinion, it is a shame to
05:11 only 10x 1% of your assets. uh it’s a
05:15 lot more fun to 10x 10% of your assets
05:18 because then instead of just having 10%
05:20 more financial resources and financial
05:22 freedom, you will have a 100% more
05:24 because if you take 10% of your net
05:26 worth and put it in Bitcoin and it 10x’s
05:29 then you have doubled your net worth. If
05:31 you only have 1% in and it 10x’s then
05:34 you go from 1% to 10% you still have the
05:36 other 99% and you basically have roughly
05:38 10% more. It’s even more fun if you put
05:41 20% or 30% in. Obviously, if you have
05:43 30% in Bitcoin, it 10xes. That
05:46 quadruples the total amount of money you
05:48 had because the 10% turns into 300%. Uh,
05:53 sorry, the 30% turns into 300%. You
05:55 still have the 70% of your original
05:57 assets and you have almost quadruple
05:59 what you have today. And then there’s
06:01 people like me who have literally 100%
06:03 of the liquid assets that I own or
06:05 control are in Bitcoin. Which means
06:07 every increase in the price of Bitcoin
06:09 is, you know, radically if it 10xes, it
06:12 10xes almost my entire net worth.
06:14 Obviously, not counting, you know,
06:15 private company stock and stuff like
06:17 that, but that’s not liquid as far as
06:19 liquid assets, things I even could
06:20 invest in Bitcoin if I wanted to. I’m at
06:22 100%. So, there’s nowhere to go. Um, but
06:25 again, I represent a microscopic
06:27 percentage of the world. So, what do you
06:29 think is going to happen when more of
06:31 the world starts getting serious about
06:33 Bitcoin? It’s going to go up a lot
06:34 higher than it is today. So, what
06:36 matters is not do we hit a new all-time
06:37 high today. It’s how much Bitcoin do you
06:40 have and what percent is that of your
06:42 total net worth and is that the amount
06:44 you want to 10x um or do you want some
06:48 larger amount to 10x? So, that’s my two
06:51 cents for the day. Have a good one,
06:52 everyone.