Bitcoin to $1M by 2030? | Wall Street Says You’re Not Bullish Enough!

Dante Cook (0:00)

While you were at work yesterday, some of the smartest minds in finance from all over the world were in Manhattan, New York to discuss distressed debt assets? No. To talk about private credit? No.

They were there to talk about Bitcoin. These are some of the top finance professionals in the world from firms like Schwab, BlackRock, Fidelity, and the takes on Bitcoin that came out of this conference would shock the average person.

Ric Edelman (0:22)

The 1% or 2% allocation is way insufficient. It ought to be at least 5% or 10%, and you can argue 10% or 20%.

Dante Cook (0:30)

That's Ric Edelman. Baron rated him the number one advisor in America. His firm manages over $330 billion in assets. And that wasn't even the most bullish clip.

SPEAKER_3 (0:39)

You are witnessing the greatest inflection point where digital agents hit the world. So then you're left with FOMO.

This is what drives it to parabolic. The fear of missing out, and this is what you're gonna see over the course of the next year, in my opinion.

Dante Cook (0:53)

These aren't just social media influencers like me, who don't know what they're talking about. These are finance professionals with real backgrounds and real experience from the trading floor. They're bullish on Bitcoin with the experience to back it up. And today, we're gonna go into why they believe that $500,000 Bitcoin by 2030 is just the floor. They see Bitcoin as an asset growing at 30 to 70% a year. And that's just the beginning. It gets more bullish than that. This is Dante Cook with Bitcoin Simply.

Let's go.

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Matt Cole (1:52)

I think that Bitcoin is going to go to roughly 500,000 by the end of 2030, basically a 50% annual return on average. And I think the bands of that are basically 30% to 70%.

And so as I've watched these macro conditions develop, I'm extremely constructive on Bitcoin right now.

Dante Cook (2:12)

That's Matt Cole, the CEO of Strive Asset Management. People know him from his talks about Bitcoin. But what people don't know is that prior to joining Strive, he was at CalPERS, California's pension fund for 15 years, where he managed over $70 billion worth of assets in global fixed income. This guy was looking to eke out 1% to 2% gains on a fixed income portfolio that would beat inflation anywhere and around the world for California's teachers and people that were investing into this pension fund. This guy was not far out on the risk curve, but in doing research to understand what would create the best portfolio, what would generate the best long-term returns. He said that Bitcoin had a position and a role to play in that portfolio, and that's what led him down the rabbit hole. That's what led him into Bitcoin. He understood that bonds have a duration problem. The longer the duration or risk that you take in bonds, getting paid a certain percent for a certain amount of time, the more risk that you have for inflation. You also have to run into this dilemma that people are living longer. He's not the only person that understands portfolio allocation and has the same thesis. Ric Edelman dropped some nuggets at this conference as well. That should give people something to think about.

Ric Edelman (3:19)

I argued for a 1% allocation.

I've since changed that. My white paper that you can get at DACFP, dacfp.com, argues for a 10% to 40% allocation. 10% for conservative, 25% moderate, 40% aggressive portfolio. And people are kind of shocked that someone like me would argue for a 40% Bitcoin allocation. The reason is not nearly because of the reasons Matt said, which he's right, but in addition, is the longevity curve. The 60-40 is broken, that's what my white paper deals with. And I argue the reason the 60-40 model is broken is because of longevity. That we need to have assets more in equities and for longer periods because we're living so much longer.

Dante Cook (4:03)

Within a portfolio, Bitcoin has a lot of positives. First of all, the long-term return characteristics that it has. Since 2009, Bitcoin is the best-performing asset in the world. Not only that, it is a hedge against inflation, it's positioned against technology disruption which you can't say that about many technology or any assets that are driving returns in the market right now. And it also is a hedge against geopolitical risk. And for this reason, Ric Edelman believes that a 1% allocation is simply too small. These two are in alignment. That the percentage of global assets that are invested in other asset classes are going to trickle into Bitcoin.