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.