2491: Cathie Wood Calls for $750,000 Bitcoin - Wall Street's Biggest Investors Are PILING IN

Justin Verrengia (0:00)

Wall Street just triggered a Bitcoin buying war. They spent years dismissing Bitcoin. Now they're scrambling to buy it. The biggest money managers on earth are entering the race for the first time. And the Bitcoin OGs, they're not selling. Wall Street's about to learn what scarcity really means. Let's get right into it. $750,000 Bitcoin is no longer a pipe dream. Wall Street's biggest money managers are finally getting the message. Cathie Wood just revealed that major institutional investors are opening their first Bitcoin positions, not adding to existing bags. Buying Bitcoin for the first time. And her firm's base case Bitcoin target, $750,000 per coin. And her bull case, $1.25 million per Bitcoin by 2030 Meanwhile, Strive just bought another $100 million worth of Bitcoin. And Saylor just added another $267,000 Bitcoin, bringing Strategy's holdings to a staggering $848,517 BTC, alongside $5.3 billion in USD assets, which is their fiat war chest. They're not waiting for $750,000 Bitcoin. They're buying before it gets there. And if you think this is just another Wall Street headline, you're missing the bigger picture. For years, Bitcoin was dismissed as speculative internet money. Too volatile, it's just too risky, too controversial. The same financial establishment that spent decades defending a monetary system built on unlimited debt and currency debasement couldn't wrap its head around an asset that nobody could manipulate through monetary policy. But Bitcoin didn't need their permission, it didn't need their approval, and it certainly didn't need their validation. Bitcoin kept producing blocks tick-tock every 10 minutes through market crashes, exchange collapses, government crackdowns, banking failures, and endless declarations. The Bitcoin was dead. And now, the biggest money managers on earth are starting to finally get it. And here's what makes this moment so significant. The story isn't that Wall Street discovered Bitcoin yesterday. Institutions have been accumulating Bitcoin for years, since 2024 to be exact, really. The story is that another wave of major asset allocators is reportedly entering the market for the very first time. These aren't retail traders chasing green candles. These are institutions responsible for allocating enormous, pools of capital. And when they decide Bitcoin deserves a permanent place in their portfolios, even relatively small allocations can represent massive demand. And Michael Saylor, the man, has spent years demonstrating what happens when a company adopts Bitcoin as its primary treasury reserve asset. While the financial establishment debates whether Bitcoin belongs on the balance sheet, Saylor keeps adding to his. And this is where the Bitcoin thesis gets explosive. Every institution entering Bitcoin is competing for exposure to an asset with a permanently capped supply. There are only 21 million Bitcoin. 16 million Bitcoin, which is 80% of the circulating supply, is already held by the long-term holders. And 3 to 4 million Bitcoin are believed to be lost forever. And the amount available for immediate purchase at any given price is far smaller than the headline supply number. Now imagine what happens if Bitcoin allocations become standard across pension funds, endowments, corporations, wealth managers, and sovereign portfolios. Not overnight, not all at once, but institution by institution, balance sheet by balance sheet. The competition for Bitcoin intensifies. Bitcoin doesn't reward status. It doesn't care how many billions you manage, and it doesn't offer a discount for showing up late. Cathie Wood sees $750,000 Bitcoin, her bull case is $1.25 million. The question isn't whether Wall Street finally approves of Bitcoin. The question is how much Bitcoin will be left for sale at today's prices when the next wave of capital arrives. They're not waiting for $750,000 Bitcoin. They're buying before it gets there. The stampede is just getting started.

Welcome, everyone to Pod Episode 2491

I'm your host, JV. It's October 19th, 2026 Wall Street wants to punish companies for accumulating Bitcoin. Well, Saylor has a message for them. Strategy already owns over 4% of the entire Bitcoin supply, and his latest signal suggests he's buying even more. But here's the kicker. He's not the only billionaire doubling down. Let's dive right into this brand new video from Cathie Wood.

Cathie Wood (4:38)

Even though it's very volatile, Bitcoin to gold, the uptrend, long-term uptrend is in place. And so we believe that asset allocators are short Bitcoin and are probably moving in gradually here, and long gold. So they're probably rebalancing a bit and maybe taking their first positions ever in Bitcoin.

Justin Verrengia (5:02)

Well, here's the 411 The Clarity Act is nothing but a massive scam, over 600 pages of restrictions on how you're allowed to use your Bitcoin, your peer-to-peer money. So they can go after themselves. The Senate failed. The Dems have failed us. Our government has failed us. But one thing they cannot do is confiscate properly stored self-custodied Bitcoin. You want to know what these lizard folks fear? Self-custody. Because it's the only form of Bitcoin they can't take from you. They can steal your Bitcoin if it's in a wrapper. In fact, they prefer that. You give them your money, and then they hold the Bitcoin for you, not show keys, not show cheese. But let me know your thoughts on Cathie Wood's 750,000 base case scenario. And the date on that's by 2030, which is within the next four years at the top of the decade. Her bull scenario was originally 1.5 million, but more recently, her and ARK Invest, they dropped it a little bit to now 1.25 million. Let me know if you think we'll hit these targets by the year 2030, or maybe you're even more bullish. Holla at ya boy. Now Michael Saylor made an announcement this morning. He wrote, Strategy has repurchased 193 million of SDRC and acquired 267 Bitcoin. As of October 18th, we hold 848,517 BTC and 5.3 billion of USD assets. We have also increased the size of our digital assets securities repurchase program from 2 billion to 3 billion dollars. And just as I predicted yesterday when he posted the Strategy Tracker, it's always a precursor that the following day when he files with the SEC, he will be announcing his acquisition for the week. And that's precisely what we just witnessed. The largest corporate holder of Bitcoin on the planet. It's staggering. Let me know when you think he'll likely hit the 1 million BTC milestone. And he's not the only billionaire in town. Breaking news. $3 billion Strive just announced they bought 1,223 BTC for 100 million. They've now bought over 9,000 BTC this month alone. In October, this is the game theory. Playing out with the corporations, there's now over 200 of them that have significant Bitcoin positions, strategic reserves and so forth. And it's going to continue to escalate. We're still in the early innings. You want to use a baseball metaphor. We're at the bottom of the first inning. We're just warming up. Hop on this bitty train or forever get left behind. That's where we at right now. Also, as you can see here, breaking news. $700 billion Visa just announced a partnership with Mesh to bring Bitcoin and crypto payments to 175 million merchants.