I know many will laugh at me. And maybe they’re right. But I’m not writing this to convince the naysayers. This is for the growing community of people (including Michael Saylor, Paul Tudor Jones, Stanley Druckenmiller, Bill Miller….) who have seen the crypto light. And I’ve been laughed at before for making seemingly outlandish predictions and been proven right.
My market cap target for bitcoin is $2 Trillion, or $100,000 per bitcoin ever to be mined. This target is predicated on bitcoin growing its market share of store of value from 2% today to 17% by 2024 (assuming gold holds its current market cap of $12.5 trillion).
It has been said that trust is the real flaw of the banking system. Inevitably counterparties must outsource their trust in each other to the bank as an intermediary, and with recent headlines, we can see that consumer confidence in banks is weakening.
I grew up believing in American exceptionalism. That the U.S. was better than other nations. That’s what I was taught. When I looked around, that’s what I saw. But among many other lessons, Trump has taught me that the U.S. is a banana republic, just like most other/every other nation in the world. And that actually makes […]
As Bitcoin starts to gain the attention of the broader population again, we continue to struggle as an industry to define what Bitcoin is in a way that’s accessible to most people. I recently attended a Bitcoin 101 class taught as part of the grand opening of the awesome Bitcoin Center Miami. It’s a great way to help […]
For most, Bitcoin remains an enigma. I think part of the difficulty in understanding Bitcoin is that it’s not just one thing. Bitcoin can be many things, depending on how you look at it. Depending on the prism you look at the world throug
Target Price = $50,000 (assumes $1 Trillion valuation and 20,000,000 BTC, fully diluted) I’ve been around the block. In the 90s I was an equity analyst following media companies at Goldman Sachs. I loved it. But the internet came calling, and I jumped in. After my 2nd company, I became an angel investor and then a VC. […]
As of the writing of this post, Bitcoin is the top performing “asset class” of 2019 YTD, up 89% YTD. Bitcoin is up 22% in just the past week. And everyone wants to know why. The Markets Swing Between Bubbles And Crashes I have a word I use to describe the tendency of markets to become […]
Per Wikipedia, a Ponzi scheme …. is a form of fraud which lures investors and pays profits to earlier investors by using funds obtained from more recent investors This is how the U.S. government now operates. It loses massive amounts of money every year (i.e. runs at a deficit) and finances it with new debt. When […]
As the chart above shows, the biggest names in crypto all got 2018 horribly wrong. Why were they so wrong? I think they’re all smart guys and I applaud their work and the important contribution they’re making to the ecosystem. I think there are two main reasons why they’re so bad. 1. Accurately Predicting The […]
I assume Nouriel Roubini is a smart guy. So is Warren Buffet. It doesn’t mean I’d want them to do heart surgery on me, because it’s not their thing. My guess is, they’d have no interest in performing heart surgery because they know it’s not their thing. So, just because someone’s smart, doesn’t mean they understand crypto. […]