The Best Bitcoin Buying Opportunity In History | Peter Dunworth

**Peter Dunworth** (0:02)
Everyone should have the right to have sound money that is not debased, that allows them the ability to have censorship-resistant money and seizure-resistant money. When you look at all of the other options from an investment perspective, and you boil that down to what the upside is for Bitcoin over the next 10 years, which I still believe we've got 100X in front of us in the next 10 years, Bitcoin becomes undeniable, and that word again is going to pop up when Bitcoin breaks an all-time high in the next however long it takes. There's going to be a lot of capital on the sidelines that is going to chase that, and that's where we'll see a real pop.

**Danny Knowles** (0:42)
Peter Dunworth back on the show, the most bullish man in Bitcoin.
Price is down, sentiment is shot. This is why I need to talk to you right now. You're the most bullish man that I ever speak to. How are you doing, man?

**Peter Dunworth** (0:56)
Life is beautiful, always is.

**Danny Knowles** (1:00)
What's your take on this whole market right now?

**Peter Dunworth** (1:04)
I think in a word, it would be testing. I think this is a period of time for Bitcoin that is different. It's unlike any other time that we've had. I think Bitcoiners have been very fortunate that they have had the fastest horse for the last 15 years.
This little startup called AI has come and taken that crown as the fastest horse. I think it's causing a lot of doubts for people who were here for the number go up but don't understand what that really is. It's really freedom go up technology as one of our good mates, Alex Gladstein talks of. This is where I think in this type of market, it's really important to understand from a first principles perspective, what you own, why you own it, and what you want to do with it. This is where recent changes to Bitcoin or recent developments in Bitcoin like the ETF and the Treasury companies and the rest of it, really blurs that line to what Bitcoin's initial value proposition was, which was sovereign money, money you basically can't mess with. And the last two years, a lot of attention has been distracted from Bitcoin to talk about the Bitcoin proxies, which was the ETFs and the Treasury companies. And the whole value proposition of owning and self-custodying Bitcoin, I think has been lost in the wash with the marketing attempts for the Treasury companies and the ETFs. But in moments like this, I think it's really important to go back to, well, what was that value proposition? It was about sound money that was censorship resistant, seizure resistant with absolute digital scarcity. And in times like this, when it's really bearish, I go back to that and think, has any of those values changed?
Have any of those values been compromised? And at this point in time, I look at that and say, no, no, no. So for me, it's a massive tick of approval for an opportunity to buy at really discounted prices when sentiment is actually like, I've never seen it this bad because of those factors I talked about. It's a very different psychological condition for most Bitcoiners that haven't gone through this. We've never had to deal with it before. But if the value proposition of Bitcoin is still intact, then I haven't seen a better buying opportunity than where we are right now.

**Danny Knowles** (3:15)
Yeah, I think one of the reasons that sentiment has been so bad is, if you compare it to the crash, like the FTX crash, the bottom of the last cycle, there was a very clear reason. There was out and out fraud that had been happening, which had an impact across the entire market. You knew why Bitcoin was crashing. And like you say, the fundamental value of Bitcoin had nothing had changed. So therefore, it's quite easy to hold through that. Whereas this time, it feels like we've had a crash and it's like, you can kind of blame it on Iran, but then we didn't perform that well last year compared to things like gold and silver.
It's hard to point out where we are right now.
And it's also hard to point out why we'll go up again, because we always had the thing that was coming next, which was like ETFs or whatever. But it's like, what's next? We've got countries that buy Bitcoin, we've got ETFs. Unless we just go to bigger and bigger countries, who's to buy it? But I also think that's why whenever we do break through the next all-time high, it's like we don't need a reason. And if we don't have a reason, that's even more powerful.