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.