Tags
The Investor's PodcastPreston PyshStig BrodersenTobias CarlisleHari Ramachandra
Date Consumed
Nov 22, 2020
Count (Month)
17
Created
Nov 22, 2020 1:55 PM
Last Edited
May 3, 2021 4:31 PM
Date of podcast: 15 Nov 2020
Starting at 17:24 — Preston Pysh on Bitcoin
- Doubling down on his pick from earlier in the year
- Price estimate c. $20,000 by end-2020 or early 2021
- Price estimate c. $100,000 by end 2021
- Extremely volatile
- Fidelity recently sent an email to investors suggesting 5% portfolio allocation. See here: https://decrypt.co/44880/bitcoin-should-be-5-percent-your-investment-portfolio-fidelity
- Bear case: if global governments do NOT continue to debase their currencies, Bitcoin becomes less appealing
- Gold market cap is $10T. Bitcoin market cap is $250B (40x smaller) with better properties. Has store of value plus can be easily verified (by running a full node), is held digitally (no physical storage, mobile when needed), and can be spent.
- Under Biden presidency: increasing cap gains taxes for high net worth individuals creates additional incentive to HODL which further constrains supply
Additional points (not in podcast)
- Bitcoin user base currently estimated at 100M individuals
- PayPal has 300M user base and now enables users to buy and hold Bitcoin, easily through their PayPal accounts
- Other easy onramps such as Square, Robinhood did not exist during 2017 rally