In a recent tweet, Dan Tapiero, a macro investor, Bitcoin and gold holder (and a Gold Bullion International co-founder), has stated that over the past one hundred and fifty years, the human ability to understand money has not improved. He predicted that humanity will take a long time to understand what Bitcoin truly is and how it can be used as new money to change the global economy.
In a picture, an overweight person with fiat banknotes in his fists has a forbidding look and the caption says “Repudiation”. The man is holding unbacked fiat currencies.
It's a 150 years later and we are still making the same mistake.
Think about how much else has changed.
So little progress in understanding money.
Will still take years before people understand #bitcoin pic.twitter.com/QDFhFNNSw2— Dan Tapiero (@DTAPCAP) April 29, 2020
Are Bitcoin lovers... orcs?
The hedge fund guru and Galaxy Digital CEO Mike Novogratz seems to be seconding this thought by posting a YouTube video (an extract from the ‘Lord of the Rings’ movie) where an orc says: “The age of Men is over. The time of the Orc has come”.
It seems that Novogratz is comparing Bitcoin nerds to the new race of orcs described by Tolkien in the ‘Lord of the Rings’ trilogy. However, this comparison has raised questions, as everyone remembers things did not end well for orcs.
Fuck yeah! pic.twitter.com/mAJ5udsEi7— Aquaflan (@WordingSplines) April 29, 2020
Bitcoin - $250,000 in ten years
Meanwhile, Dan Tapiero speaks of massive Bitcoin appreciation over the next ten years. He states that, since the market value would be at least $450 bln, a forecast of Bitcoin hitting $25,000 is too conservative. He says:
“I see over $250,000 in the next 10 years”
Nice piece about #Bitcoin appreciation potential over next decade. I think 25k long term target too conservative. Mkt value would only be 450 bil approx, too small to be relevant vs other asset classes. I see over 250k in the next 10yrs.— Dan Tapiero (@DTAPCAP) April 29, 2020