2368: Senator Lummis Says Bitcoin Is Headed To $10 Million Per Coin

**Justin Verrengia** (0:00)
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Check this out. Senator Cynthia Lummis just said the quiet part out loud. She believes Bitcoin is headed to $10 million per coin. Not 100 Gs, not a million, 10 million. Let that sink in. A sitting United States Senator is publicly making a $10 million Bitcoin call. And here's what makes that statement very interesting. She didn't make the prediction during peak euphoria. She made it while Washington is actively working to make Bitcoin easier to own, easier to access, and easier to recommend. Most people hear $10 million Bitcoin and stop listening. They assume, oh, that's impossible. They assume it's hype. They assume it can never happen. But then they never stop to ask the obvious question, what would need to happen for that prediction to become reality? The answer is not that everybody buys Bitcoin. Bitcoin doesn't need 8 billion buyers. It doesn't need every retirement account. It doesn't need every corporation. And it doesn't need every government. It only needs a small percentage of the world's capital to seek exposure. That's the part most people miss. Today Bitcoin is worth roughly 1.3 trillion total market cap, of course. And that may sound enormous until you compare it to the markets Bitcoin is competing against. Gold right now is worth roughly 30 trillion. The global bond market is worth roughly 143 trillion. Global real estate is worth hundreds of trillions, and Bitcoin doesn't need to replace any of them. It only needs to attract a small allocation from each. A 1% allocation, 2%, 5% allocation. Numbers that sound small until you apply them to trillions of dollars. I'll give you an example. If Bitcoin captured just 10% of gold's value, that alone would represent nearly 3 trillion dollars of additional demand. If Bitcoin captured just 5% of the global bond market, you're talking about more than 7 trillion. And that's before you include pension funds, insurance companies, sovereign wealth funds, family offices, corporate treasuries and governments. Bitcoin doesn't need all that money. It only needs enough of it. And enough is a much smaller number than most people realize. That's why so many people underestimate Bitcoin. They're thinking like consumers. The market thinks like allocators. Now combine that with what's happening right now in Washington. The Clarity Act continues moving forward. Major institutions are expanding their Bitcoin offerings. Wealth managers are becoming more comfortable discussing Bitcoin. And every year, the barriers to owning Bitcoin get lower. In fact, the White House now says it's optimistic. The Clarity Act can pass by July 4th, three weeks out. Think about what that means. The conversation is no longer whether Bitcoin belongs in finance. The conversation is how quickly the infrastructure gets built around it. That matters because easier access creates more buyers. More buyers creates more demand. But Bitcoin cannot create more supply. And that's the catch. Because every year, Bitcoin becomes easier to buy, but the supply remains permanently fixed. That's how repricing events happen. The interesting part isn't the prediction. It's who's making it. Take a look. The lovely Senator Lummis says the quiet part out loud. Bitcoin will one day be $10 million per coin. It is faster and cheaper than traditional finance. It'll grow as a store of value. Clarity Act will only accelerate this. Be prepared. Here you go. Brand new video clip.

**SPEAKER_2** (4:05)
Do you think that Bitcoin can be a $200 trillion network?

**Cynthia Lummis** (4:09)
I do. When you look at the fact that it is fully decentralized, it is immutable, that it is scarce, that as more of it is mined, the volatility is going to decline. Its use cases will expand. All of these events surrounding NipSmart, as it matures as an asset, are going to make it more useful. It is faster. It is cheaper. If I was gonna save, I'd wanna save in Bitcoin, not in US dollars.

**Justin Verrengia** (4:37)
Well, there you go. Bitcoin will one day be worth $200 trillion, and then the pretty little bitty price to $10 million per coin, which is 10 cents per set. Parody.
Send it. Let me know if you agree or disagree with Cynthia Lummis and what she just shared. And do you think the Clarity Act will pass by July 4th, which is the deadline they're saying it can pass by, and it's only three weeks out. And obviously the big observation here is it would give access to hundreds of trillions of dollars worth of capital to start flooding into Bitcoin, because today the Bitcoin market cap is very nascent. It's only roughly 1.3 trillion dollars. It's a trillion dollars below the all time high.