Fiat’s Dying, Billion Dollar Prediction, and Playboy Bunnies
The bull run has been continuing overnight, and it’s very exciting to see these new highs continue across most of the market.
I think everyone in the crypto community is excited – we know Elon Musk is. He just tweeted out a cartoon of a couple laying on each other in bed looking at the price of Bitcoin reaching 69,000.
Of course, his company Tesla holds 42,902 Bitcoin.
With these price increases, Bitcoin’s market cap crossed the $1trill value and has actually surpassed that of the Swiss Franc – which has made it the 13th largest currency in the world.
As we see moments like this and crypto being adopted by countries like El Salvador – it makes you realize that the financial landscape is changing fast.
What was something no one understood 10 years ago has become something that everyone talks about today. So what do the next ten years look like?
Lawrence Lepard, the managing partner for Equity Management Associates has made some bleak predictions for the monetary system in the next ten years to Kitco news recently.
He believed the dollar as we know it today will be dead.
With rapid inflation coming and money being printed on-demand, he believes our current monetary system is broken and needs a reset.
He’s stated that if hyperinflation happens, he believes people will lose their belief in fiat money and will then default to its intrinsic value – which is 0.
He also said that he believes that the real value of Gold and Bitcoin should be a lot higher based on the old monetary ratio. He thinks Gold should be valued at $10,000 right now and Bitcoin valued at $200,000.
Lepard also had some interesting predictions, that bitcoin to hit $150,000 in one year and $2 million in five years.
So, for anyone thinking they missed their chance – most people believe crypto has a long way to go still.
The second-largest coin, Ethereum, is also expected to do well.
Sean Farrell, who is Fundstrat’s Head of Digital Asset Strategy told Yahoo Finance that he expected it to hit $10,000 soon. Ethereum had an overnight high of $4300 last night – so his prediction puts it at over double its current value.
Well, let’s move on to the world of NFTs.
People interested in sports, film, and other cultural memorabilia will soon have a new platform to look forward to.
The Grid is an NFT market that is designed to tie NFT ownership to real-world collectibles.
The creator, Sher Chaudhary, had the idea for the platform after seeing the demand for an NFT tied to game-worn NBA sneakers.
The Grid certifies the authenticity and full ownership history of each collectible and ultimately creates a digital piece of NFT memorabilia that represents the physical space of the artifact.
The first NFT is expected to release on the platform in November.
Sports have been really taking off in the NFT world. The NFT company owned by the large officially licensed sports memorabilia company Fanatics is now worth over $1.5 billion.
Their company is Candy Digital, and had received $100 million dollars in their series A investment round, and launched last June.
They are making their NFTS using the Ethereum blockchain.
Another interesting company has decided to enter the NFT market: Playboy.
But they aren’t releasing a series featuring centerfolds or models, but Rabbit Avatars that they are calling Rabbitars.
They will release over 11,000 unique 3d avatars, in a similar vein to what we’ve seen with Bored Ape and Crypto Punk avatars.
Sales for these NFTs will be happening from Oct 24th to Oct 27th
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I’m Dustin Knouse, thank you for joining me today.
Episode Resources:
Elon Musk posts a raunchy tweet about bitcoin hitting $69,000 – and the crypto community loves it
BITCOIN OVERTAKES SWISS FRANC TO BECOME WORLD’S 13TH BIGGEST CURRENCY
The U.S. dollar ‘as we know it’ will be dead in 10 yrs, bitcoin price to hit $2 million in 5 yrs
Analyst who called bitcoin’s rebound says ether could hit $10,000
New NFT Platform “The Grid” Unites the Digital World with Physical Artifacts
Fanatics’ NFT company is worth $1.5 billion, and NFL legend Peyton Manning now owns a stake
