Hosted by DaVinci Jeremie, March 2011 Da Vinci 15 I bought Bitcoin for 67 cents on YouTube. More than a decade later, bitcoin is now trading at around $16,500, but Jeremy said he continues to hold on to bitcoin because it’s a “money system that governments can’t stop.” I was.
“[With Bitcoin], instant wealth transfer to anyone in the world without a third party,” he said. “This is amazing technology.”
According to Jeremy, these qualities of Bitcoin will become especially apparent once governments begin rolling out central bank digital currencies.
“I think the government will create its own digital currency and make it impossible for people to do it. [transact] By not only blocking what they buy, but telling them what they can and cannot buy,” he said.
He suggested that people turn to Bitcoin to avoid government overreach and use it for everyday transactions.
Jeremie spoke with Kitco News anchor and producer David Lin.
central bank serfdom
Part of Jeremy’s enthusiasm for Bitcoin is based on his professed disdain for the current banking system, which he claims has led to “total slavery.”
“Central banking is the worst kind of slavery that has affected all of humanity,” he said. “If I can print money and you have to work for it, it enslaves you.”
He suggested that the central bank’s ability to make money available would cause it to redistribute wealth to the elite.
“The ability to print money is evil…because it sucks wealth out of other people,” he said. “Only criminals… want to steal wealth from everyone. The best way to do that is to become a banker.”
Jeremy also said the current financial system is causing inflation and eroding people’s wealth.
“You can’t save money and claim it will save you by retirement because inflation can get out of control and wipe you out.” …and you will be able to survive with it.”
Bitcoin price manipulation
Bitcoin’s price is being manipulated through derivatives markets and ETFs, said Jeremy, who also claimed gold and silver were being manipulated.
“Bitcoin is the only commodity that cannot be delivered on commodity exchanges,” he said. “Still, it’s the easiest product to offer…when your Bitcoin contract expires, all you have is cash.”
Jeremie suggested that exchanges could place buy and sell orders to move the price of bitcoin within intraday trading.
“Conversely [they manipulate price] It’s with ETFs,” he said. “People could buy what they thought was bitcoin in an ETF, but it’s not bitcoin…there is only price exposure in the ETF.”
Bitcoin price prediction
Suggesting a lower limit of $12,000, Jeremy said Bitcoin will eventually recover and reach $100,000.
“I think it’s probably $12,000. [for Bitcoin],” he said. “It will take until 2024. [Crypto] Winter is really starting to subside as the Bitcoin halving advances. ”
Watch the video above to see Jeremy’s outlook on Bitcoin’s price
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