Why Billionaire Thinks the Dollar’s Future Is in Trouble

Rashad Bilal (0:00)

Let's talk about Bitcoin. 86,000, I first invested in Bitcoin, it was $5,000. So it's been very interesting to see Bitcoin and cryptocurrency rise through the years. It's been a very roller coaster ride. It's been a very roller coaster ride, like I said, from, I mean, you know, obviously Bitcoin people, some people got in at $100, but when I started to pay attention to it, it was $5,000. Then we got into crypto heavy around that time, and it crashed. It went to $20,000, then it crashed, and Bitcoin went back up to $20,000, $30,000, $40,000, and then back and forth and reached $120,000, then came back. I've always remained consistent, I think, with my Bitcoin take that I think Bitcoin is going to reach a million dollars one day, and it's here to stay. It's very resilient. It's lasted every storm that was thrown at it, every government regulation, everything that has happened that could have potentially tanked Bitcoin, it has not succeeded.

It's been very resilient.

And in the face of even more what people would deem as adversity probably, with the recent happenings of last week, and it's rallying again. And 86,000 just pulled back a little bit from 86,000, but the mighty Bitcoin has proven once again why it reigns supreme. So what do we think about Bitcoin at 86,000?

Troy Millings (2:00)

It's a key number. I think it being at 86,000, I think it brings it out to just under 1% year to date.

But if you look at it from a technical standpoint, check out the staff. I know she put this in there. I was watching the charts as well.

You can see the move or the momentum of it climbing. I think I got it pinned at 93,000 as the next key level to see where it gets at. But again, people are shorting Bitcoin and have been shorting Bitcoin and have been shorting Bitcoin related ETFs. And so again, when contracts expire like they did on Friday, you look at that short squeeze.

That short squeeze is a real thing. And so you saw $593 million that flowed into US Bitcoin ETFs today. That's $600 million in a day into Bitcoin ETFs. Why? Well, that Bitcoin winter, right? If you follow its historic pattern, then you're looking at it from a technical standpoint, it looks like it's getting back to that line where we're going to see a sort of a bullish run here. So that's important. And then you see institutional investors starting to put more money back in. So you saw Michael Saylor today buy $950 Bitcoin at a retail price of $75 million. I know last week was like that. It almost felt like here's the doom. But kind of like what you're saying, Shadi, is that when storms are thrown at it, it kind of debunks the storms, right? The Clarity Act was supposed to be, oh, here's the legislation that's going to pass it. It fails. It was down for the day on Wednesday. And now look at what it's done, right? Even though it didn't pass, the SEC didn't say like, hey, we're still, we're going to find a way to get around it. I know it's a political thing, Democrats. But they said, look, we're still going to find a way to make this thing work. And that talks about the resilience and the current administration saying, hey, we have to make this happen. Let's figure out how we can make it happen, which is all good signs for Bitcoin. So like I said, I think it's going to go a bit higher here. 93,000 would be a key level to watch.

But yeah, man, it's here to stay.

SPEAKER_3 (4:09)

Stop playing short-term games with long-term assets. Rashad and I are going to talk about this one on Wednesday. There is a short-term traders pandemic that I think is being used as a Psyop to get us to not want to hold assets for a long period of time. For anyone who is short, any asset that matters, why? You're not going to make as much money as you think. And if you just hold a long-term, like my answer for everything, once I get the AI figure out and just say, 10-year hold for anything you love, we're really going to have a 45-minute show.

I think we could potentially pull back to 71,796, maybe a month or two, three months. That's the level I like to buy. But I agree with the 90,000 assessment. I think by maybe next year, we should be in the 101-something area. But hold for long-term. I don't want you guys to trade these assets short-term. I want you to hold them long-term and how much from that 20,000 level are you up? Because I see some of y'all online trying to rewrite history, and that's fine, but you can't rewrite your net worth. My boy respect me with love from the bottom of my heart. I love him.