Bitcoin, Michael Sailor, United States discussed on The Pomp Podcast
Do we get institutions to adopt and kind of developing nations. And then there's a default and there's an inflection point my how do you think we sequentially get there. What does that like order of operations almost look like a so great question so firstly i'll i'll detail how are not detail. It'll be a quick explanation of how i get to my two thousand dollars a two million dollars or greater point very simply today total global financial assets in the world. Today are over. Us nine hundred trillion dollars now that includes all equities all data all currency all. Fine art all gould. Nine hundred trillion. Us dollars all real estate. Sorry i forgot mentioned real estate globally. I think that bitcoin has a chance of becoming the global reserve asset of the world. Why because i think oil and natural gas will shortly. And when i say within the next ten years become priced in bitcoin. Why is that well. I'm an engineer rule of conservation of energy. You certainly heard. Michael sailor say that oil and natural gas if you're russia. Do you actually want to sell your valuable natural resources for this thing called the us dollar. Which is a programmed debase fee currency. Or do you want to hold. Us treasuries which is a fee contract. That's also program to be based or would you like to sell your natural resource energy'd for bitcoin which is digital energy. I think yes. I think over time. There will be enough people or nations that want to price bitcoin or energy and bitcoin. When that happens that becomes the reserve asset of the world so what percentage of the reserve asset is. It makes sense that nine hundred trillion dollars could capture. Would it be five percent. I think that's pretty low. But let's assume it's five percent of nine hundred trillion. Us dollars five percent of nine hundred. Trillion is forty five trillion dollars forty five trillion divided by twenty one million bitcoin. That's over two million dollars in bitcoin. Okay it's that simple now. Could it go higher than two million frigging lutely okay. But let's just us two million dollars per bitcoin as a base case scenario. How does it get there. It gets there something like you know what happens in south el salvador a little bit and then against there because michael sailor the genius of wall street figures they every single corporations should actually issue that in order to capture f certainty of debate contract in trade for this thing called bitcoin..