원문 보기
In a recent interview with Morgan Stanley, we have Stanley Druckenmiller talking about Bitcoin's utility and the use of stable coins. So, we kind of touched on this a little bit earlier, but Stanley Druckenmiller said, "I'm actually disappointed Bitcoin ended up becoming a store of value because it wasn't originally needed for that, but it's become a brand and people love it.
So, it's probably going to be a store of value." He thinks Bitcoin's going to be a store of value and he talks about stable coins, how they will likely be global payments used for global payments within 10 to 15 years. So, um I I I agree with this premise as he's seeing it now, as it's viewed now. I disagree that it's going to be that way.
It's I don't think Bitcoin is stuck being viewed as a a store of value for that only forever. Hopefully not. I think payments I think the whole stable coin and and the whole like perpetuating the US dollar across the globe, like and and you know, through the use of these things, effectively it's going to, in my mind, uh give the dollar a kind of last gasp of of air by by allowing not as so much in the US, but in other jurisdictions where their national res- coin, you know, their their national currency is so much weaker than the dollar.
Mhm. From to their in their perspective, like if I have to hold my savings in my local currency and it's being like eroded away and inflated away at this rate, or I could put it in the US dollar and it's it's less bad, right? It's like it's like comparatively inflating away. I know stable is kind of a misnomer in my mind, but it's like uh you know, we're kind of stuck with it, but it's like you know, then the the decision is pretty is pretty clear.
It's like, well, I move my my savings into the thing that's like less bad. Um but I think Bitcoin is the the the best of of of all situations, but we're not we're not there yet in terms of you know, awareness and realization. So, you know, if you're sitting in I don't know, Pakistan or something and you can't and you know, and your government's making stupid decisions and just like driving inflation out the roof, it's like what do you do?
It's like, you know, you you buy stuff and hoard it, you know, commodities, you know, grain, stuff that you need. Uh you you know, you buy, you know, precious metals maybe or oil or something that you know, you have a good feeling you can like resell later when you need it. So, uh or there's you know, if this other thing, US dollar denominated stablecoins is available you know, no nobody can stop you from from buying or selling it, then it's a it's a pretty good option.
Now, in the United States, we don't really think of it that way, uh but there's a lot of people that are not in the United States and that are under you know, some degree of this kind of dilemma and we just effectively gave them like uh an extra option that uh is going to create more and more treasury demand cuz every every stablecoin has to be backed supposedly.
Again, trust me, bro. Has to be backed by a treasury or some equivalent. And like who audits that? When does that happen? I think is something people don't think about too much, but anyway the yeah, I think it's going to uh it's going to serve that function for a while, but I think that will erode as the dollar, you know, uh value changes.
And we'll just have to see, uh Again, if it takes 40 years, then, well, in my lifetime, it it didn't happen. Yeah. Yeah. It's like It's like So, I I at some point, I think you got to look at these things and like, "Okay, it might be an inevitable, but if it takes, you know, 40 years to to play out, then I got to do things given the circumstances I find myself in now, and what I where my near-term anticipation is." So.
Well, that's one of the reasons why we're here, you know, we're here to talk about Bitcoin, Spaces protocol. You just think about it, you know, Bitcoin backed by energy, global money, global worldwide. We're going on the internet more, it's digital. And it's funny to think that each country has their own paper or digital currency that their own people, governments can create for free, whenever they decide.
You know, that's funny that every country has the authority to create these digital vaporware currencies. Yeah, they'll print them sometimes, and they'll make paper equivalents. You know, then we value them amongst each other. You know, Bitcoin just seems super obvious. It's backed by money, nobody controls it, can use it over the internet, every country can use it.
It's equal for every country. So, the politicians in this country can't create their currency and buy two-for-one, you know, bogo sales from everything that this other country offers. You know, I'm just going to make my dollar for free, and it's worth 10 times your dollar. So, let me just make a couple of these dollars, and I'm going to go on a spending spree and buy out your whole country, real estate, oil, whatever it is, you know?
That's what happens, unfortunately. And people just need to understand that Bitcoin is an amazing solution to fix that problem. Yeah, it it is. And uh like I say uh in the in the interim I I think it's going to have more and more dampening sort of effect on the on the system that we understand today.
And uh Hopefully. you know? Hopefully uh but uh we'll see, you know, uh things things do tend to like accelerate if there's some catalyst. Maybe this Iran thing's a catalyst. Maybe the private equity market's a catalyst. Maybe it takes a few things kind of hitting simultaneously to get that true black swan event.
You know, that really that really causes a cascade. Um but we'll we'll see. We'll see where it happens, but uh it's always fun to talk about. I know we didn't get in We didn't really talk about spaces too much, but I think uh you know, just to kind of remind people like names i- a- as property is like meaningless unless it's been anchored somewhere where no one else can mess with it, right?
Right. And I think this is like a big value prop of the uh spaces protocol. And we'll be talking a lot more about it in detail. We kind of went in the macro world today, but I think that's fine. Hopefully soon. Hopefully soon. That's right. All right. All right, sir. It was a good show. Good seeing you today.
Yep, you too. And I think to you guys soon. We covered it. Yep, thanks for watching everybody. Have a good one. Take care.
Comments 0