BITCOIN WILL BE THE GLOBAL RESERVE CURRENCY?

So she said to me, Craig, can you give me what I want? I don't know about you, but I feel so good trying to make you feel real.

What is up? I am Mason Versluisuis. In this video, we are going to do what we do every single damn day on this channel. We hop into the markets, we look at everything that's been happening on Twitter regarding cryptocurrency, and we look at some, some news articles. This is so that we can stay up to date and I can give you my thoughts and opinions It's also so that we can eventually become extremely wealthy from cryptocurrency. But let's go, let's dive into the markets here. We see Bitcoin— hold up, I'm in Canadian here. Let's go to USD. $34K. Ethereum still $1K. XRP sitting at 30 cents. Biggest gainer, let's see. ThorChain, damn. Polkadot, I've never really got into Polkadot. Let me know if you guys are invested in Polkadot. Zcash, AUX. Damn, let's see the biggest loser. Nano, damn. 7 days, IOST. I've heard lots about IOST. Zcash is up there. Solana, it If anybody knows BitBoy, BitBoy Crypto, he just put this in his new video titled 5 Altcoins to Make You a Millionaire in 2021. Uh, but let's head to Twitter. We see Mr. Pompliano. Decades ago, 44 countries got together and decided the US dollar would be the global reserve currency. Today, tens of millions of citizens are getting together and deciding that Bitcoin will be the next global reserve currency. Do you think— this is the question— do you think Bitcoin will be the next global reserve currency? Who knows. Let's go. Tyler Winklevoss, the two-headed goat right here. Ether. Ethereum is at $1K. Still 30% off its all-time high. OMFG, what an opportunity. And as we saw over here, as we saw over here, Ethereum $1,071. And let's check that all-time high. All-time high is $1.4K. So still 30% off. Ethereum is a very good buy right now. This guy says Bitcoin is the far better opportunity. What do you think? Bitcoin right now? I think Ethereum is better as a better opportunity than Bitcoin right now. Cameron Winklevoss is the other head of the two-headed goat right here. Companies issue more shares, governments print more money, miners mine more gold, drillers drill more oil. Bitcoin supply is fixed. It will always be the same, never change. It can't be debased, diluted, or inflated. Yeah, Bitcoin is, is like deflationary. If you invest— like, you— I said this on my TikTok, by the way, go follow my TikTok. Um, go follow my TikTok, Crypto Mason with a U. Um, Right here I posted, do yourself a favor and invest in digital gold. That's because you're— you are more at risk if you don't own Bitcoin than if you do right now. I've never heard of an investment like that. Michael Saylor: Bitcoin is thermodynamically sound money for the economic winter that is coming. The hell is this guy talking about? This guy's scamming with a verified badge though. Um, thermodynamically sound money, I like that term. We got Pompliano again. Bitcoin has transitioned from a contrarian trade to a consensus trade on Wall Street. Next up are corporations and then central banks. Just a matter of time. Here, let's watch this right here. This is him on CNBC Market Alert.

We're going to show a chart of Bitcoin year to date. I think volatile is a euphemism. Uh, this is quite— it's quite some action.

What's a euphemism, bro? The hell's a euphemism? Can't be saying that to dumbass people watching the news. A mild or indirect word or expression too harsh or too blunt. Facts on the facts. Facts. This guy's speaking facts. Let's go.

But you actually believe that holding Bitcoin, it gives people more control over their investments, and you actually call it beautiful. I've never heard that term for Bitcoin. Can you kind of explain?

Beautiful facts, facts, facts, facts, facts. Bitcoin is a beautiful concept, like beautiful idea. And, and just if you just think about it really hard and know what it's actually here to do is be a thesis here.

Yeah, so from a price perspective, remember that Bitcoin was trading at $10,000 in October of 2020. So it basically went up 400% in less than 90 days, kind of had this parabolic run, uh, and so had a 20% retracement. Uh, that's pretty natural. If you go back to the 2017 bull run, uh, Bitcoin between 2016 and 2017, when it more than 20x'd in price, had 5 corrections of over 30%. And so naturally, what you're going to get is you're going to get these mini boom and bust cycles. But over a long period of time, even just 1 year in 2017 bull market, you had a 20x in price. And so the halving in 2020 really kickstarted the next bull market. I think what we're seeing here is this is kind of the first correction.

Why wasn't that halving a big deal? Like, I didn't hear anything about that halving at all.

But it's still higher than it was in October of 2020. And we're going to continue to see it move higher and higher in the coming months.

So Anthony, you agree it's volatile. We're going to agree right there. You're saying there's many boom and bust cycles. But I think the question everybody wants to know is, what is the true worth of Bitcoin? And is it in any shape or any form tied to the value of the dollar? Because we've seen the dollar bounce and then we've seen the Bitcoin fall.

What's tied to the value of the dollar?

Yeah, well, look, you know, Jerome Powell and the Federal Reserve ran a $3 trillion—

why do they keep throwing them back to this—

dollar marketing campaign for store of value or inflation hedge assets, uh, in 2020. And whether you believe inflation is actually going occur or not. There's a fear of inflation. And so investors are moving capital into precious metals, Bitcoin, real estate, etc. I think that Bitcoin has been the big winner out of that group. And we've seen the price movement kind of follow. And now what we're watching is we're watching Bitcoin really go from a contrarian trade on Wall Street to consensus trade. So you had retail come in first. Now you have institutions. I think next you'll see corporations. Everyone from Fortune 100 companies on down will start to put Bitcoin on their balance sheet. And then eventually we're going to see central banks around the world start to put this into their reserves. Right now we're kind of transitioning from that retail to institution. And after that, we'll go from institutions into the corporates. And again, it's just Bitcoin is a better asset. If you compare it to something like gold, it's a 10x improvement from a technology standpoint.

Facts, facts, facts.

Off of gold. So a store of value use case is kind of a low-hanging fruit. And then if you start to look at it as an actual digital currency, it's a decentralized digital currency. You know, can it rise to global reserve status? I think that's the big question. Investors around the world are speculating on, and we'll find out, you know, kind of how the market, you know, plays out here over the coming years.

What do you guys think? That video, global reserve, global reserve, I think it's gonna make it there. A lot of— when this happens, the corporations and the central banks, a lot of money is gonna flow into crypto. This guy, I just found this tweet. FTX US, think of eating vegetables as diversifying your portfolio. Facts. That's a dope analogy right there. We got multiple tokens see rally amid looming alt season. Look at this, CoinDesk, 20 assets. So alt season, alt season. Look at this. When I go over here, whoa, the market cap dropped below $1 trillion excluding Bitcoin. Look at this. This is not even— you can see the peaks. I don't know, I don't do graphs and stuff on this channel. It's mainly just news and like theories and opinions. But you can see this peak, and we recently passed that peak for Bitcoin— with Bitcoin, with Bitcoin we passed it, but with, with only altcoins, we haven't passed it. So I think a lot of money is getting ready to flow in. Ex-Ripple CTO can't remember password to access $240 million in Bitcoin, bro. This, this is probably just a— why would you hire a guy who can't remember one password? We don't even deal with passwords, we're dealing with seed phrases and shit now. Ledger adds Bitcoin bounty and new data security after the hack. The Ledger hack— did anybody get affected by this Ledger hack? Like, anybody get weird emails or anything? By the way, these seed word phrases are very important. I highly recommend getting like a metal-plated one. I have a metal-plated one. First mover don't like $34K Bitcoin. Stellar, Litecoin yet to conquer old highs. Everything is about to go ham in my opinion. Um, that is going to wrap up this video. If you enjoyed, make sure that you subscribe, turn the post notification bell on. I post a video every day going over the markets and interesting tweets. Make sure you follow me on Instagram @MasonVibration, and goodbye. Mason Versluis.