The Wolf Of All Streets

“Dave says Bitcoin could take over gold's monetary premium, a significant multiple from here, but its next leg up is further out than most think "Ignoring Bitcoin's implied option is a serious mistake, and that's the point. Now, it's an option. It's not necessarily going to happen, but there are many people out there, I know them, that are holders, that are in traditional finance, that have a piece of their portfolio." "Whether it's Ric Edelman's 40% or somebody else's 2 to 3%, they hold a position in their portfolio. Their avowed reason for holding it is that Bitcoin can become gold and take over gold's monetary premium. That is a significant multiple of where it is today." "Which explains why Bitcoin has been in this range. It's now three times failed, and this is fairly significant. It's three times failed at that $86,000 to $87,000 level. And as I've said before, I thought it would stay around in this $80,000s range for a while, as it digested, before another impulse higher at some point. Now, I think that some point is later than most. It's not gonna happen this month, but it could." "That understanding is why you see more long-term buying. That's why what you're seeing is important. And yes, Bitcoin is 100% the most sensitive to liquidity flows. But it has historically been inverse correlated to the dollar, and yet it's holding in the $80,000s with the dollar being this strong. So, you know, we'll see what happens."”