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BITCOIN HAS 2 HALVINGS IN 2020 – Is $1,000,000 Possible?

VIDEO TRANSCRIPT

Boom BoJack. What is going on everybody Randall here from crypto love two days episode we are talking about how Bitcoin is actually having to have things this year unprecedented to happen this year. And could this mean that we could see a million-dollar Bitcoin by the end of the year? All right what is up to everybody Randall here now. Today’s episode we were talking about bitcoins to have rings in 2020 now. Bitcoins had half things before had of having back in 2016 another half in 2012 where the block reward decreased by half but Bitcoin actually this year has to have things. Now you may be saying Randall what are you talking about. Well let me tell you what I’m talking about the 1 1/2 thing that everybody knows about it coming up in the middle of May 2020 everyone’s looking forward to that but this second half thing actually kind of just snuck in. If you guys weren’t watching it happen down here at the bottom. So what is the second half thing? Well in case you have not heard the White House the Fed has proposed a six trillion-dollar stimulus package that sticks with a lot of zeros. So announced in a press conference on March 24th White House economic adviser Larry Kudlow believes the United States government‘s stimulus package will come to roughly six trillion dollars. Reports indicate two million of his own will be passed directly to businesses and individuals and the rest is a reminder for the Federal Reserve. Now just to give you an idea of what six trillion dollars are. That’s the same as a third of America’s GDP that’s the same as 130 percent of the Fed’s balance sheet. That’s the same as enough money for eight hundred and fifty dollars for every human being on earth or that’s the same as owning 900 million bitcoins. But there’s not that many. There were only 21 million. Now I know a lot of you this number is beyond your capability for comprehending it and you’re saying well why does it even matter. Well if we take a look at the Federal Reserve’s balance sheet right now they have it at four point six trillion dollars. Well, guess what. They’re going to be injecting 6 trillion on top of that. So right now they’re more than doubling their balance sheet right now which is technically like a half thing right OK. Now furthermore if we take a look at what happened obviously we haven’t had the Fed doubled our balance sheet before any time. Because here it kind of grew we saw what happened back there in 2008 with some funny stuff. Interest rates decreasing but really to give us an idea of what will happen with this we have to kind of look back into history. So the last time in at least four U.S. dollars, when there was something that had this big of an effect on the purchasing power of the currency, was back in 1971 when Nixon took the dollar off the gold standard at Bretton Woods. So if we take a look in 1971 and we go a few years later the purchasing power according to this chart was 30 cents there a few years later it’s down to 20 cents. It half’s down to 15 cents even it helps. OK. If we take a look versus gold because of resource it raises Bitcoin as virtual gold. So seventy-one right around here were the mouses. There was a purchasing power than around 500 and then we take a look a decade later about 50. So we see a 10-time increase in a decade versus gold but you see gold is an inflationary currency there’s more mined every single year. So we have to look at Bitcoin now. Everybody with this hard thing is expecting bitcoin to follow the stock to flow, model, because this takes a look at simple economics supply versus demand. Well if it were to fall that because we’re having the supply if demand remains the same we’ll be looking at one hundred thousand dollar Bitcoin. But now we have just doubled the amount of purchasing power the amount of money available the number of dollars. So because of that is it possible we could see a million-dollar bitcoin this year like what McAfee predicted in 280 days. In case you guys didn’t know this. He said that he will see one hundred five hundred thousand dollars by the end of 2025 and a thousand other bitcoin and he then went on to say a million-dollar Bitcoin by the end of 2020. Now he’s you know shirking back saying he’s going to do it but there’s still 280 days. And based on simple economics supply and demand and then doubling the money supply is very likely we could see this. So let me know what you think down in the comments. I would love to know and then I’ll catch you guys later. Have a good one.

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