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I think this is the most important year for Bitcoin that has ever existed we are probably days away from a series of ETFs being approved and so this is the moment for Bitcoin to to use that old term cross the chasm and really see mainstream adoption where our parents and our grandparents understand what it is can buy it and then do buy it and I think that if all of this comes to pass Bitcoin will be a part of the traditional Financial lexicon by the end of 2024 so that is my most anticipated trend of the year chath palahia a highly successful entrepreneur and investor has achieved billionaire status through his early involvement with Facebook and notable investments in companies like slack Virgin Galactic the Golden State Warriors and Bitcoin in a recent podcast Chon math revealed his belief that the most significant trend of 2024 will be Bitcoin having been introduced to Bitcoin in 2012 by friends he at one point claimed to collectively own 5% of the total Bitcoin Supply with an average by Price close to $100 in the podcast episode chath discusses why he considers 224 to be a pivotal year for Bitcoin marking its true mainstream adoption despite his Forefront position in technology and artificial intelligence Innovation he emphasizes Bitcoin as the standout trend for the coming year the video explores the reasons behind 's early conviction in Bitcoin featuring a clip from 2012 and delves into his bullish Outlook chth not only highlights the relevance of his 2012 reasoning but also explains in the conclusion why he anticipates Bitcoin reaching $1000000 before eventually hitting $1 million in the next two decades that's why I'm a huge fan of Bitcoin I mean I'm very very long Bitcoin um people ask me you know on Twitter I got into a long conversation with a guy over the weekend and uh you know he asked me what my favorite Bitcoin coin companies were and I said none I said you know right now you just want to own the underlying commodity like Google didn't choose to be in the USD you know US Dollar business Google is a business that's amazing that just happens to get paid in US Dollars similarly I'd rather own Bitcoin than try to find the onesie TWY guy at the edges right now now over the long history of time there will need to be on ramps onramps and off-ramps and companies will be successful but in the short short term owning that currency and allowing water to find its level particularly in the developing markets is huge and if you don't think that this thing is going to rip when Brazil goes through a devaluation when the Indian rupe continues to get crushed when you have all of this money trying to get in and out of these countries where there's massive you know political instability or monetary or financial instability you're being naive it doesn't matter what happens in the United States it doesn't matter what happens in Japan doesn't H matter what happens in the EU doesn't matter it matters what happens in our Argentina in Venezuela in Kenya in Brazil in India in Russia in China and when you look at where all the activity is it's in all of those markets y this will be born out of a people's desire to have unfettered access to Capital so again on that sociological theme that's another area which look what the Nazis did during World War II it's disgusting you know if you have ways to protect and hide your wealth your hard-earned money you know y i I mean it's this I think it's a really profound important thing and so you're hold on just so we just so we know and can feel bad about ourselves you're accumulating it at what price uh well my dollar cost average is around a hundred and something and and you've held it everything you've bought well at one point myself and you know two so I was introduced to it by a person I asked him if I could disclose his name he said no but he myself and another person all three of us relatively well known in the valley we went and we started at one point we owned almost 5% of the entire float in 20 13 uh We've sold they've sold etc etc I wish we had kept it all we didn't uh it's fine um but then I wrote an article and I said you know what there's so much asymmetric upside here this is a thing that either goes to you know at the time I said roughly the value of gold and at the time it was about $100 a coin and so there's very little downside there's all this asymmetric upside I said take 1% of your net worth and buy this schmuck insurance and it's a schmuck Insurance in this kind of very elegant insurance that was at $100 though what would I mean I I I actually started hearing from people that I know very well who who don't often invest who are now asking me if this is the time to buy the SM insurance now here's here's the thing this is now a confidence game right there is no real utility in this this is a fantastic fundamental hedge and store of value against autocratic regimes and banking infrastructure that we know is corrosive to how the world needs to work properly you cannot have central banks infinitely printing currency you cannot have folks with you know misguided and misdirected monetary and fiscal policy you just called it a confidence game which is a game and we've done okay econom is built on central banks and built on on Fiat currencies where you you said yourself how much better life is in in every respect than it's ever been and that's with that as a infrastruct so so we've seen the first few chapters of this and now we have to go through this great unwind right when all this liquidity now what what happens we'll see what happens and so all I'm saying is to have the ability to hedge that out right in a way that isn't fundamentally correlated to the people in the infrastructure that made those decisions that we were not a part of fundamentally I think is a smart thing but the point is if you haven't jumped on this bus or train or whatever uh vehicle you want to describe it as has it left the station no um so here's what I would say the same way that I said in 2013 put 1% of your net worth into Bitcoin I will put myself out there today I think this thing is a $100,000 a coin probably in the next 3 to 4 years and I think it is in the next 20 years a million dollars a coin so there you have it you're you're telling people to put one of 1% of your net worth at the time that's that's for a lot hard but that that's for people who have money to play with I mean if you're talking to an average retail investor who's looking at this somebody who's trying to figure out should I put it in my 401k or should I put it in Bitcoin you would tell them what well I don't think that's the actual trade-off in your 401k so for example in your IRA I'm saying that there are people who have to make decisions about these things who aren't fully invested in the 401 so what I'm saying is I own a lot of Bitcoin in my IRA it is possible so I did take a small percentage and I put it in there all I'm saying is there's a small percentage of everyone most tax advantaged way absolutely but you have money to play with but I what I'm saying is you could buy the S&P 500 Index buy 99% of that so if you have $100 to invest what I'm saying is but $1 but $1 and and the reason that $1 is so valuable is that it is fundamentally not correlated to the other 99 and just on the off chance that all the people that manage the 99 may not totally know what they're doing the $1 may actually save us all chanth palaha Pia's vision for Bitcoin as discussed reflects a clear understanding rooted in both ambition and a profound grasp of market trends and technological advancements from his early days as an investor to the present Chan math consist ly views Bitcoin not merely as a digital asset but as a transformative force in the Realms of finance and Technology his predictions and beliefs regarding the cryptocurrency potential are deeply grounded in years of experience and success in the tech and investment sectors kth's insights are noteworthy emphasizing the transformative nature of Bitcoin he sees it as more than a speculative investment viewing it as a significant player shaping the future of finance and Technology however as with any investment it is crucial for individuals to conduct their own research and evaluate their finan cial situation before engaging in the dynamic world of cryptocurrencies kth's perspective while influential should be considered alongside individual circumstances and risk tolerance in conclusion Chan math palahia stance on bitcoin highlights its potential to be a disruptive Force his belief in the cryptocurrency's transformative capabilities underscores the need for investors to carefully consider their own Financial circumstances and conduct thorough research before entering the cryptocurrency market kth's insights grounded in years of experience provide valuable perspective IV on bitcoin's role in shaping the future landscape of finance and technology
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