2399: Bitcoin's $100T Race Has Begun - Nobody Wants To Be Last

**Justin Verrengia** (0:00)
The real Bitcoin FOMO hasn't even started yet. The countdown ends when the government starts buying. That's right, the biggest Bitcoin buyer hasn't entered the market yet. And that's exactly why Bitcoin is still so cheap. Because once the biggest buyers arrive, there's no going back. For years, Bitcoin has been driven by the retail investors. More recently, the hedge funds and a handful of public companies, the next wave looks completely different. It is driven by governments, nation states, sovereign wealth funds and the largest institutions on earth. That's the shift almost nobody understands. Think about what America is debating. A strategic Bitcoin reserve, 1 million Bitcoin held for 20 years, not traded, not sold, simply accumulated and held. 1 million Bitcoin represents nearly 5% of the entire Bitcoin network. Now ask yourself what happens next. Does the rest of the world sit back and watch America lock away 1 million Bitcoin? Or do they start buying before it happens? That's where game theory begins. Because governments don't compete after everyone agrees. They compete before everyone else figures it out. Now look at today's headlines. Japan opening the door to Bitcoin ETFs. Taiwan says there's 100% chance it's establishing a strategic Bitcoin reserve. The United States is advancing legislation that gives the institutions the regulatory clarity they've been waiting for. These stories aren't disconnected. They're all pointing in the same direction. The race has already begun. There can only ever be 21 million Bitcoin. Over 20 million have already been mined. Millions more are believed to be lost forever. ETFs continue buying. Public companies like Strategy continue accumulating. Long term holders refuse to sell. That creates a simple equation. More buyers, less available supply. More competition, higher prices. Every institution that allocates Bitcoin makes it harder for the next institution to build that same position. That's why the first buyers don't just own Bitcoin. They establish the price every future buyer must pay. And Bitcoin waiting isn't neutral. Waiting has a cost. Now imagine nation states joining that same competition. Who sells them the Bitcoin? That's the real question. Because the available supply keeps shrinking, while the number of potential buyers keeps growing. That's why this cycle feels different. Bitcoin doesn't need to become better. It doesn't need another halving, and it doesn't need another ETF. It simply needs the world's largest buyers to stop waiting. That's exactly what regulatory clarity was designed to unlock. For years, the excuse was simple. We need clearer rules. That excuse is disappearing. The Clarity Act doesn't create Bitcoin. It doesn't increase the supply. It simply removes one of the biggest barriers between institutional capital and Bitcoin itself. And that's why this moment matters. When uncertainty disappears, capital moves. Not because Bitcoin changed, because the framework did. People keep asking what sends Bitcoin to that $1 million price target. They're asking the wrong question. The better question is what happens when the world's largest buyers all arrive at the same time? The last buyer doesn't set the price. The last buyer pays the price. And nobody wants to be last. Now, let me show you why I'm saying the race has already begun. Check this out. All breaking news right here. Taiwan congressman just said there's 100% chance the country will establish a strategic Bitcoin reserve. He says, unlike gold, Bitcoin is digitally transferable and verifiable. The world has changed. One of the richest countries in Asia adopting Bitcoin. It's happening and it doesn't end there. Breaking news out of Japan. They just advanced the landmark bill to legalize Bitcoin ETFs. Japan's upper house committee has approved legislation to reclassify.
Bitcoin and other cryptos as financial instruments, paving the way for spot crypto ETFs as early as 2027 The proposal would also slash crypto taxes to a flat 20%, down from the current maximum rate of 55%.
So this is very significant, and especially in a country like Japan, where there's a lot of wealth and a lot of wealthy individuals and businessmen and companies and et cetera. That's a great sign. Adoption accelerating. And it doesn't stop there. South Korea officially classifies Bitcoin as a strategic state asset. The National Asset Basic Act will formally bring Bitcoin and crypto under the government's asset management system. All this adoption happening in Asia right now, we just can't sit back and let it all play out without getting our piece of that bitty pie. And speaking of that piece, this is the big news in the US. President Trump to meet with senators tomorrow to discuss the Clarity Act's path to success.
I'm hoping that we can come up with some agreement by the end of the week according to Senator Tom Tillis. So it is happening and you guys already know the significance of the Clarity Act. We talk about it all the time and there is a window where we can get it passed and signed into law before the summer recess. Also, this was just featured on Fox Business, Coinbase Chief Policy Officer Talks Clarity Act.