Why We Will See A 100 Trillion Dollars Bitcoin Market Cap - Willy Woo - Aug 3, 2021

Why We Will See A 100 Trillion Dollars Bitcoin Market Cap - Willy Woo - Aug 3, 2021

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In this video, Willy Woo explains why he believes Bitcoin will inevitably reach $100 trillion. He also expresses optimism that central and commercial banks have no other choice than to adopt Bitcoin.

What follows is the summary of the interview.

Rocket scientists are trained to put rockets into space being hired up by some quant firm to build. Some smart guys are building some front-running software to beat the market and are coming over to crypto claiming they want to make it efficient. For example, the Goldman Sachs Chairman wants to dominate and control the currency and add some stuff to the ecosystem.

Meanwhile, the bankers are also coming over. They make money using commercial and retail banks by propagating debts and expanding the money supply through the process of loaning out and getting deposits. Now, central banks are prepared to introduce their digital currencies. Hence, retail and commercial banks have the option to either fold up and due or be a Bitcoin bank.

Morgan Stanley and JP Morgan are coming over to Bitcoin, and they have no choice because their valuation is no better than Coinbase. Bitcoin is going to $100 trillion, if not more partly because productivity is improving. Chairmen of central banks are now talking about Bitcoin and are scared of it. Today, 160 million people now have exposure to Bitcoin, and the number doubles every year. Also, the current network growth rate is the fastest of any technology has ever seen. Hence, Bitcoin will be at saturation within a decade.

China will be the fastest in adopting cryptos. Bitcoin enables you to have complete control over what you're building without asking anyone else's opinion. In the 70s and 80s, the hedge fund guys used to brag about being rich. But now, we've had young crypto billionaires who are far richer than the Wall Street guys.

According to the book, "The Fourth Turning", every fourth generation goes through archetypes of all kinds of changes and every fourth turning. The last one was the Great Depression, going into World War II when there was a major shift of regime and an infrastructure change.

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