Should You Buy Bitcoin At $70,000? Crypto BULL RUN Incoming

Well, finally happened. Bitcoin is at all time highs. Ethereum is flirting with all time highs. All of a sudden it's cool to be in crypto again. But doesn't it feel like this came out of nowhere? Nobody was talking about this just a few months ago. What's fueling this crazy run? Why has it felt so quiet? We're going to talk about what I'm doing about it and you can use it to, to make your own decisions on if you're gonna sell, if you're gonna buy. And we'll talk about what this means for your money and the world as a whole. So Bitcoin's at all time highs and Ethereum is getting close. When did we expect this was gonna happen? I personally didn't expect that it was gonna happen for several years. But Bitcoin and Ethereum have tripled since January of 2023. So in just over a year it has tripled. And no one thought that this was gonna happen until interest rates came down. But interest rates have stayed at their highest level. There's been no cuts from the Federal Reserve that have been driving this bull run. And yet it has still gone to record levels. Doesn't it feel like it came out of nowhere? Doesn't it feel like no one's been talking about this? The reason for that is because for the first time, this is big money moving into the space. This means that there are ETFs being started. It's not your average taxi driver who is buying crypto on his Robinhood app anymore. That's what fueled the big runs previous. Now it's big money funneling into the space. Now what does that mean? What does it mean that it's going, Is it gonna hit 150,000? Is Ethereum going to 10,000? And most importantly, should you buy more or should you sell right now? Well, let me tell you what I am doing with my money. I own a sizable amount of Ethereum and I own a little bit of Bitcoin. I'll talk about why here in a second. I have made a ton of money in this bull run. It's been great. But am I buying more? No. I am not touching Bitcoin or Ethereum at these prices with the dollars that I have in savings. And the reason will surprise you. It's not because I don't think it's going higher. I think it will. And it's not because I don't think there's going to be entire companies that are built and launched on blockchain and that it will be the new stock market within 15 years. Cause I do think that the reason why I am not putting more money into Bitcoin or Ethereum is because I refuse to chase. The best time to make any investment is when no one else is making that investment. Remember a couple years ago, remember 2021 when Bitcoin was passing 50,000 for the first time and everybody was making their price projections of it going to 150 and and 200,000. And that is when you had the greater fool theory kick in. That means that I'm simply buying into this asset class believing that there will be a greater fool who will buy it from me at a higher price later. That is not the time to take your dry powder and put it into an asset class. The time to do that is when you believe in something long term and nobody else is paying attention to it. For example, I mentioned that Bitcoin has tripled since January of 2023. Do you know what else has tripled since January of 2023? Meta stock. I said it from stage publicly that Meta stock was insanely undervalued. But everybody was giving their attention to TikTok and nobody was buying Meta stock. It's gone up more than 3x in the same timeframe. Carvana stock is up 10 times since January of 2023. No one talked about it. But you would have made three times the money last year if you had put your money into Carvana stock than if you had bought Bitcoin at its bottom of this cycle. I want to put the money that I have on the sidelines into the things that I am bullish on long term that nobody is talking about or that everyone is bearish on right now. Here's another example. I made my money in E Commerce. I help people build their first million dollar business. I believe the way to get rich is to build a business and then invest the profits into long term assets. Right now E Commerce where I made most of my money is in the toilet. People are shitting on it across the world. Big E commerce companies are going out of business. And I am rubbing my hands together so freaking excited to pounce in this space because I know exactly where it's going in five years. Because I know exactly what is gonna happen in this space. Because I know exactly what platforms are gonna win and and what types of brands are gonna take off. And I am loving the fact that I am growing by hundreds of thousands of dollars per month in revenue while everybody else is fleeing for the exits. I feel the opposite About Crypto I launched an NFT project in the middle of the biggest bear market in crypto history. I launched an NFT project when ethereum went from 4,000 to to 1,000. That's when I launched my NFT project and I loved it because I knew everybody in the space was going to sleep on it and that meant that I had to build an actually good community and an actual good product that I have been fulfilling consistently for the last two years and I will consistently fulfill for the next three to five years because I have a very long term view and I want to pounce when everybody else is fleeing for the exits. That is how I think about my long term investments. Now the other argument here is to dollar cost average consistently into Bitcoin, Ethereum or the S&P 500 which also is right at record highs. That is an appropriate, safe, consistent strategy because you're not betting your house. Disclaimer I'm an idiot. You follow on the Internet I know nothing about investment. Don't listen to anything that I have to say. But taking your dry powder or your life savings and putting it into one thing, hoping that it is going to pop, is not something to do once the bull run is already halfway through. Unless of course you have a 20 year time horizon. In that case you tend to win regardless of when you buy. The trouble with most people who consume content about investing or they're entrepreneurs, they try to take their entrepreneurial mindset and apply it to investing. Maximize every dollar. Oftentimes their temptation is to invest where all of the momentum is and then they sell when the momentum ends. Or they sell to protect what they have left because they took a loss. True investing is having a list of assets that you're excited to buy and then you wait for too good to be true opportunities. Here's a good example. When Bitcoin was at 60,000 in 2021, I said and I said publicly that I will buy bitcoin, I will buy more when it hits 30,000 again. And I was laughed out of the Twitter sphere. I was laughed out of the room. It'll never go back to 30,000. And I said maybe. And if it doesn't, I'll never buy it. Lo and behold, not only did it come down to 30,000, but it went to 2520 down to 18. And I said publicly on this channel, this is the accumulation period. This is the time that if you like this asset you should buy it. This is the time where you're going to have about an 18 month window to accumulate whatever you want to accumulate. This is that period. And I said, I'm buying crypto, I'm buying meta stock. I'm interested in real estate. I didn't buy any real estate. But these are the sectors that I was looking at. Now is not the time to do that. Now is the time to go back to your list of assets that you would like to buy and look at the prices in which you can't say no. For example, right now I would love to buy Tesla stock at $100 and I'll buy it if it comes down close to $100. Now, a couple years ago people would have said I was absolutely insane for saying that. And maybe so. And if it never came down to $100, I would never buy it. I would simply wait for the next opportunity or continue to dollar cost average into the S&P 500 or other assets that I want to own forever and ever. Amen. And never sell. But here we are in 2024. Tesla's in a bear cycle. It's coming down to 180, 170. It's starting to get close to my buy target. And if it comes down to a price that I'd be really happy to pay, then I will make an aggressive investment into Tesla and I will know that I waited for what I thought was not necessarily the bottom, but a good, fair, reasonable price with a margin of safety that I would be happy holding for five to 10 years. And if I'm wrong, I made a very logical, unemotional decision based on the price that I was willing to pay. So as everybody else is telling you why Bitcoin is going to 150,000, I will tell you that they might be right. I will also tell you that I will not buy as it continues to go up, as everybody else is telling you that Ethereum is going to 10,000. I say I hope so, but I am not putting more money into it. If, however, it drops back down to 2000, I might be a player. There is, however, one other alternative, and it's the alternative that I am pursuing, because even though I am not putting more of my money into crypto, I do plan to accumulate more crypto. You see, I think that Bitcoin and Ethereum are eventually going to be more than just assets that we speculate on. I think that they will be ways that we transact. I happen to think that square at some point is going to make it possible for every hairdresser and every food truck and everyone who takes square payments to choose what currency they get paid in. You can get paid in Bitcoin or Ethereum or whatever coin you want, or you can get paid in US dollars. Now if I could go back in time and take in payment in stocks of companies that I like, I would've done that a long time ago. But no one ever made that easy. It's not easy to go take payments of shares of S&P 500 index funds, but it's about to be possible to take payments in Ethereum or Bitcoin or any other cryptocurrency. And that is what I am doing with some of my businesses. I do have a mastermind. In fact, I used to run a $50,000 a year mastermind. Then I shut down and replaced with an NFT group that I still have Mastermind meetings with to this day. And I've been doing it for the last two years. And we launched it at 5 ETH, when ETH was $1000. I shut down my $50,000 a year mastermind in favor of taking $1700 a year for three years.

That math doesn't math. Except if I am really bullish on an asset class and I want to get paid in that currency. But there was more to it than that because I can see where the space is going. I knew that taking payments in that format was best for my customers. Why? Because it's an NFT instead of a Mastermind, which means that if you own a spot in that Mastermind, you can sell it to somebody else. And we have several members who came to a couple meetups, met some people, decided they got their value, sold their spot to someone else and they recouped their entire investment. So they got all this value from this product that I had created and it was zero net cost to them. Now I didn't make money when they sold it from this person to this person, except for a fractional royalty of like 10%. But the customer who bought up front, they got all their money back, which is a tremendous value for them. So I'm looking at this technology and saying how do I make this the best possible experience for my customers? And then if I can participate in the asset class Ethereum and Bitcoin and accumulate in that way, that's how it will increase my exposure to Bitcoin and Ethereum. But I will not take my dry powder that I have taken from savings and that I've built up after running profitable businesses and having liquidation events on investments that I made in the E Commerce space. I will not take that money and Put it into things that have already started their bull run. That, in my opinion, is the wrong time to invest. The right time is when everybody thinks you're an idiot, but you know something about the space and you believe in its long term prospects over five years. That's when you pounce. I feel that way about PayPal right now. I feel that way about a few dividend paying stocks right now. These are the things that I am watching and looking for my target prices so that I can make a pounce. I feel kind of like this in Alibaba. I feel a little bit about this in Square. This is not investment advice. These are not stock picks. You shouldn't listen to anything that I say because they'll probably all go to zero. Now. If we look at the overall crypto space, there's one thing that I want to comment on that I think we're going to see over the next two to four years. Because speculation at times like this, meaning you have all these people who are betting on the sector going up and, and you see these crazy fluctuations in price. This is when innovation happens, when there's money flooding into a space. This is when there's a lot of ideas, some of them good, most of them terrible. But the good ideas win over a long period of time. For example, in the last bull run we had this thing called NFTs pop up. NFTs are a really good idea. I think they're gonna change the way that we transact in the future. But then we had all the speculation run out of the. NFTs are a dirty word. It doesn't mean the technology isn't good. It doesn't mean that there's not gonna be great innovation in them. It just means that now's not the time. But now, as speculation floods back into the marketplace, we will see ideas come to the table again. For example, there were plenty of very interesting financial services that got started during the last bull run because it was profitable to do so. Now that it's not profitable to do so, guess what? All that money flies out the back door. All the innovation stops. But when there is speculation, we get a lot of ideas. And the good ones tend to win long term. So the thing that will be interesting about this bull run is the innovations that either come back or the innovations that start and then stick around. Because this is probably going to be the bull run where crypto stays alive for a very long time. Over the next year, you will hear so many talking heads tell you that Bitcoin is going to 150,000. Because that's the stuff that gets attention and it gets clicks. You will hear that Ethereum is going to 10,000. You will hear that Brazil and Saudi Arabia and China and Russia are going to start their own cryptocurrency because that's the stuff that gets clicks. And you know what? All of those things might be true, but those are not the things to base your financial decisions on. If you do not yet have a net worth of $1 million or more, the way that you build it, and you do it in the fastest way possible, is you build a business first and then you take the profits from that and you invest them into long term assets. And if you build a business the right way, that will have a much better return on investment than almost any cryptocurrency has. For example, I started my first E commerce business with $600. I sold it with my partner four years later for $16 million. That is a good return on investment. I have many followers who bought my book on Amazon for 15 bucks, built $1 million business over 12 to 24 months. That is a good return on investment. And now they have an asset that they can sell for millions of dollars. That's your first play, not betting on what cryptocurrency is gonna go up, but you can take those profits and put them into long term assets that you're gonna hold for five to 10 years. And that is where real wealth is made. That's the two part strategy. You build a business, you invest the profits. But chasing after what everybody else is doing I think is a fool's errand. Of course there's gonna be one of you that buys now and sells at 250,000 a coin. And you're gonna rub it in my face. And you will be right and I will be wrong. But what I've chosen to do with my money is I invest when everybody else is scared. But I believe in an asset class. For me, right now that's E Commerce. And there's a few public companies that I'm tracking that I've already shared with you. But it's not chasing what everybody else has already discovered. Two years after the fact that I knew it was undervalued. The secret is for you to look at what's undervalued over the next two years that no one else sees coming. I'm Ryan. Danny Moran with capitalism.com and I'll see you on the next one. Take care.

And now a quick word from Jared, one of our members and the 1%.

I was bankrupt and crippled to making a million dollars in a year. And then I grew that business and kept growing, growing it. So like my whole world changed financially very quickly. It was amazing how fast it was able to transition and like turn once things got rolling. Ryan and capitalism.com pretty much taught me everything I knew about E commerce and specifically branding was the biggest thing that I think capitalism really does well and they focus on teaching their students about, about building a brand and just teaching business to people. Like everything he teaches is stuff that he's done. You know, it's not like from theory that you're going to learn. So it's like all stuff that he's done. So I think the biggest thing that capitalism.com helps you with is that you're getting to learn from somebody who's done the exact thing that you want to do, which is the most important thing in the world. Like that's how you fast track your results. So if you want like the fast lane and to get your results really quickly, you go to capitalism.com and you have them show you what to do so you don't make all the mistakes and you get there really quickly. And it was the best money I ever spent because I went from bankrupt and crippled and all this other stuff to a million dollar a year business in one year, which is exactly what he teaches. And I was like, holy crap, this stuff works. So I was a, it was a very healthy exit and was able to let me focus on many other things in my life and not have to worry about that stuff anymore.

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