dollars a coin probably in the next
three to four years and I think it is in
the next 20 years a million dollars ago
in terms of crypto currencies generally
I can say almost was certainty that that
they will come to a bad ending the only
way bitcoin is going up is if someone
set an accident there are people out
there willing to manipulate it it’ll go
higher otherwise it’s getting it could
what’s that belief nation it’s Evan my
one word is believe and I believe in you
I believe you have an amazing gift
inside you that I want to see explode
out onto the world so to help you on
your journey today we’re gonna learn
what Robert Herjavec Warren Buffett
Jordan Belfort Grant Cardone and others
think about Bitcoin enjoy
all right let’s kick things off with
rule number one invest 1% with Chema
pala Hypatia let’s talk Bitcoin 2030
2012 I was introduced to it I started to
accumulate accumulate 2013 I wrote an
article and you’re Jovan just a week
just so we know we can feel bad about
ourselves you’re accumulating it at what
price
well my dollar cost average is around a
hundred and something and and you’ve
held it everything you’ve bought well at
one point myself and you know – so I was
introduced to it by a person I asked him
if I could disclose his name he said no
but he myself and another person all
three of us relatively well-known in the
valley we went we started at one point
we owned almost 5% of the entire firm in
2013 we’ve sold they’ve sold etc
etcetera I wish we had kept it all we
didn’t it’s fine but then I wrote an
article and I said you know what there’s
so much asymmetric upside here this is a
thing that either goes to you know at
the time I said roughly the value of
gold and at the time it was about a
hundred dollars a coin and so there’s
very little downside there’s all this
asymmetric upside I said take one
percent of your net worth and buy this
schmuck insurance and it’s a schmuck
insurance in this kind of very elegant
beautiful ways did I miss the stockings
yarn that was at $100 though what would
I mean I actually started hearing from
people that I know very well who don’t
often invest who are now asking
this is the time to buy this much
insurance now here’s the thing this is
now a confidence game right there is no
real utility in this this is a fantastic
fundamental hedge and store value
against autocratic regimes and banking
infrastructure that we know is corrosive
to how the world needs to work properly
you cannot have central bank’s
infinitely printing currency you cannot
have folks with you know misguided and
misdirected monetary and fiscal policy
okay you just called it a confidence
game right and we’ve done okay
the economy’s built on central banks and
built on on fiat currencies where you
said yourself how much better life is
and in every respect and it’s ever been
and that’s with that as a so we’ve seen
the first few chapters of this and now
we have to go through this great unwind
right when all this liquidity now what
what has to do what happened we’ll see
what happens and so all I’m saying is to
have the ability to hedge that out right
in a way that isn’t fundamentally
correlated to the people and the
infrastructure that made those decisions
that we were not a part of fundamentally
I think is a smart at that point is if
you haven’t jumped on this bus or train
or whatever so vehicle you want to
describe it as has it left the station
no so here’s what I would say the same
way that I said in 2013 put 1 percent of
your net worth into Bitcoin I will put
myself out there today I think this
thing is a hundred thousand dollars a
coin probably in the next three to four
years and I think it is in the next 20
years a million dollars ago so there you
have it so if you have a hundred dollars
to invest on what I’m saying is a one
dollar
but one dollar and and the reason that
one dollar is so valuable is that it is
fundamentally not correlated to the
other 99 and just on the off-chance but
all the people that manage the 99 may
not totally know what they’re doing the
one dollar may actually save us all rule
number two don’t invest in what you
don’t understand with Warren Buffett in
terms of crypto currencies generally I
can say almost with certainty that that
they will come to a bad ending now when
it happens or how or anything else I
don’t know but I know this if I could
buy long
puts I could buy a five-year put on
every one of the cryptocurrencies I’d be
glad to do it but I would never short a
dimes worth have you thought about
researchers to take a negative position
a Bitcoin no you would not do that no
there’s no reason there’s no reason I
get into enough trouble with things I
think I know something about why in the
world should I take a longer short
position is something I don’t know
anything about so you know we don’t have
to know what cocoa beans are gonna do or
any other currencies we just have to
focus on eight or ten stocks the
business is basically that we think are
decent businesses huh but I do think
that I think what’s going on definitely
will come to a bad ending rule number
three it’s a great investment for
speculators with Robert Herjavec Bitcoin
and you know the underlying technology
is here to stay so it’s not going
anywhere I think you’re gonna see the
price of Bitcoin skyrocket again I think
people are very bullish on it and I
think what’s going to drive it is
regulation people know that you have to
regulate inevitably electronic exchanges
and so you’re gonna see a regulation the
closer we get to that it’s gonna go way
up it’s gonna get regulated and it’s
going to go back down so I think it’s a
great investment if you’re a speculator
just don’t want to get caught on the
wrong end of that because as quickly as
it’s gonna go up as soon as regulation
comes in it’ll be good for it long term
but it’ll come way back are you invested
in any of the cryptocurrencies out there
right now yes we own a Herjavec group
which were a two hundred million dollars
cybersecurity company I can’t invest in
something that my enemy uses as funds so
most of the ransomware is bought through
Bitcoin which is one of the early
drivers on it we are heavily invested
though in two-factor authentication and
certain stocks that require Bitcoin if I
don’t know who’s sending me the money
identity becomes a big area so there’s a
bunch of stocks people like sale point
cyber-ark that do identity and can prove
that Morgan is really Morgan online so
you’re gonna see a lot of growth in
those kind of stocks you mentioned the
underlying technology as somebody
focused on cybersecurity I mean this
purity of the blockchain is one of the
selling points but is it adaptable to
most of these kind of corporate and
government uses that you might have
clients yeah like they’re very very much
blockchain is the future and this idea
of a secure transaction in that
handshake between transactions and being
able to verify absolutely the downside
is the exchanges are not regulated and
so you see some hacks what is the hack
in Japan they stole five hundred million
dollars worth of Bitcoin so they’re not
regulated and they’re not secure you can
hack anything but the fundamental
transaction is very secure you’re gonna
see it in a healthcare you’re gonna see
an airline’s consumer businesses across
the board annual number for the last one
before very special bonus clip is say
yes until you can’t with Grant Cardone I
made one point six million dollars in
Bitcoin in I think it was under under no
nine or ten months about a year ago a
little less than a year ago I get a
phone call on a Friday night hey grant
this company wants to hire you to speak
at their conference and they want to pay
you in Bitcoin I said okay well would
you tell him he’s like well I talked to
Sherry and I talked to Jared they they
they said they wanted we want to be paid
in cash I said look man it’s our fault
that we don’t understand Bitcoin they
had been around about eight years at
that times seven years I guess and I
said it’s there it’s not not the
customers fault that we don’t understand
cryptocurrencies or Bitcoin in this case
so tell the customer yes the answer is
always say yes until you can’t that’s
one of my philosophies I always say yes
until you can’t and number two
commit first and figure the rest out
later there’s another philosophy here
that I’m gonna share with you in a
second but the first two basically that
that I operate on my life is number one
say yes to the customer until you can’t
say yes say yes
number two because you’re gonna be
ignorant about something in business
there’s something you’re not going to
know there’s something in a sales cycle
you’re not going to understand on a date
and business manufacturing there’s
something in every part of life that
there’s always going to be something you
don’t understand so what would I always
say is look commit first figure the rest
out later you know you’ll always have
time to figure the rest out later don’t
get stuck and immobilized in in due
diligence so while the rest of the world
was out researching cryptocurrencies by
the way in the last year and a half or
two years thirteen hundred different
crypto s– how can you even keep up with
it so while everybody else was out doing
research on Kryptos trying to figure out
what it is what it didn’t I took the
trade I said okay tell the guy it’s
fifty grand
give me a hundred bitcoins 100 bitcoins
will contract on Monday say yes to and
tell them I can’t wait to be at the
conference I look forward to it the
crypto is not an issue we will
definitely take it and on Monday I set
up a crook toe on that following Monday
I set up a percent of a Bitcoin account
we accepted the 100 bitcoins it was
trading to 500 bucks that day today it’s
at 19,000 just busted 19,800 almost
20,000 I know there’s a whole bunch of
you out there know a lot more about this
space than I do but the fact that you
know more doesn’t mean you do more okay
well you guys are learning about it
figuring it out somebody gotta make a
trade
okay see the way that like the last
thing i’ma say on this topic is this cuz
a very successful guy said how did you
make a decision to take that I said look
if you offered me stock ID I said yes if
you offer me cash I’d say yes if you
offered me Amex I’d say yes if you
offered me MasterCard or Visa say yes if
you offered me a share of your company’s
future profits I’d say yes I hold
millions and
millions of dollars of contracts debt
instruments where people say they’re
gonna pay me in the future because they
signed a contract
I say yes to those so I said yes to a
contract I said yes to cash I said yes
to visa said yes turmeric and Express I
would say yes to a to a future payout of
some shares of your company of future
profits why wouldn’t I say yes to this
Bitcoin thing that’s how I made the
decision right okay three things say yes
okay say yes – you can’t – you have to
say no number two number two commit
first figure the rest out later number
three look just cuz you can’t figure it
out doesn’t mean you shouldn’t write
you’re taking all these other forms that
you haven’t quite figured out and you
take those and you trust and believe in
the confidence of American Express or
Visa or the contract the debt instrument
or whatever
[Music]
now I’ve got a very special bonus clip
from Jordan Belfort the wolf of Wall
Street and his thoughts on Bitcoin but
before that I want to know what do you
think are you invested in Bitcoin are
you thinking about it do you think it’s
a good investment or not I would love to
hear from you leave it down the comments
below thank you guys so much for
watching I believe in you I hope you
continue to believe in yourself and
whatever your one word is much love I’ll
let’s say Bitcoin becomes what you say
it is which is it’s a bubble it’s not
gonna work out people lose twenty
billion dollars let you say that goes
away okay well let’s look at the other
side if it does become hypothetical it
won’t though but let’s just say for that
I won’t I understand it but let’s just
say if we go in the direction where
cryptocurrency it is done by let you say
Goldman Sachs really that will happen
that will happen that a Goldman is gonna
do it and somebody with a lot of
credibility absolutely if that does
happen who gets hurt the most what
corporations what industries get hurt
the most it’s the little people that you
get hurt you think the little people are
the big big banks no no you mean people
have this whole thing wrong what’s going
on right now this crypto cart there’s
nothing different about cryptocurrency
to any other currency this whole this is
Bitcoin was thought of by some people
that would not scam honest they were not
looking to break any laws they were
people that were almost like financial
anarchists in a way but there was a
social experiment
on alternative my sure it’s never gonna
be the iceberg it’s not gonna be that
it’s never gonna it’s a naive way of
looking at it it’s never gonna happen
you actually think that the US
government in China and Japan and
they’re gonna allow this is no way or
size resolution so they’re not gonna
care I can’t however the technology
itself is excellent this beautiful
elegant and there’s a place for that
technology for a cripple not just
cryptocurrency whether it’s futures
anything they’re tracking investments
through a blockchain technology is an
elegant technology it will never ever be
this besides the fact that this
fundamental problems with Bitcoin that
will not allow it to ever really be used
as a currency in mass that’s not the
issue
you’re saying that will never happen as
a mess no I don’t believe so no what do
you think is gonna be thing’s gonna be
credit in cash you don’t think will be a
cashless society no I think that that
what’s gonna happen is is that
blockchain technology will be adopted in
one day probably very soon one of the
big banks are could source you have bad
bags in conjunction with the government
will have a cryptocurrency but there’s
no different
the currencies because here’s the thing
about Bitcoin as a currency bitcoin is
no more useful at twenty thousand than
in a hundred dollars yeah it still works
whether it’s a hundred dollars or two
billion dollars you could still use
Bitcoin as a currency right is it
because you could divide up a billion
times those so the only reason that’s
running up is because it’s not being
used as a currency it’s being used for
wild speculation and what’s happening is
that there’s there’s two sides to every
equation when you come to anything
that’s trading publicly and that is
there’s the market capitalization mm-hmm
which is bitcoins and we’re saying it’s
200 billion some odd dollars right but
that’s irrelevant all that matters when
something is trading is what’s called
the float how much is actually out there
that’s being bought and sold almost all
of Bitcoin is locked away and is not
trading you’re this tiny so there’s 200
billion dollars in market cap there’s
probably two million or four five ten
million dollars the most trading of it
so when you have a very thin market cap
like that it’s easy to manipulate it
what happens is once you buy Bitcoin
it’s not so easy to sell it it’s a
hassle to sell it so it keeps getting
fitter and fitter which is why of these
wild swings and then the latest thing
this latest joke of Bitcoin was this guy
and I just saw something happened which
is here’s a guy who’s it inspiring this
is this Bitcoin thing exchange something
right and the guy is long massive amount
of Bitcoin rides up the wave right he
sells his Bitcoin and he announced after
he sells it he announces I’ve sold all
my Bitcoin it’s worthless you get out of
Bitcoin and I put everything into big
cash and guess what happens but can runs
up a hundred whining bit kitchens
running up this guy is there a lot of
power
that’s classic manipulating the motor
governor nineteen twenty two years of
Kennedy’s there’s nothing miss
classification so it’s because if this
guy did not have a bad intent you only
would have done it we have done that
trade shut up what was the reason why
would he say it publicly I’ve sold all
my bitcoins buy bits a classic pump and
dust so so my question I’m sorry go
ahead
whether or not they can solve some of
the technical problems that plagued
Bitcoin wall transaction times right
correctly for mass use right it there’s
too much negative stories damage done to
powerful institutions and though they
cannot look at so you’ll never happen
let’s go over there forget Bitcoin
bitcoin is never going anywhere my
opinion okay never what blockchain
technology well if it’ll be behind the
scenes on your credit card it we behind
the scenes on your stock tranches
there’s these uses for blockchain
technology and all these it’s a great
technology and it’ll be behind the
scenes of trapping these making things
cheaper interests but you’ll still have
all the financial institution are all
clipping you anyway
is this but you’ll be using it to make
their expenses lower to make things will
elegant around the world mature but it’s
not gonna change anything the scam
that’s going on right now is something
was designed to be used as a currency
and it’s being used as an investment
vehicle that’s that what’s going on okay
there is no real currency going on it’s
like this type of the Bitcoin knowing
for every for all the action in Bitcoin
around the world what do you think is
really being used as a currency like a
virtually nothing so it’s it’s it’s it’s
a wolf in sheep’s clothing they say it’s
a currency it’s not being used as
currency it’s not particularly well
suited as a currency for all the reasons
we already spoke about and now they say
well the Bitcoin cash is better bottom
line is this okay when this thing is
about it’ll be by governments in the
mainstream and these people that a lot
of will end up in jail the ones in your
thing they’re not the miners you tell
about the guys that are manipulative
guys do it the wrong side okay and the
investors
what’s gonna happen with bitcoin is
gonna be a Black Swan event in the next
six months of it yeah by i’m let’s just
you know I’m not saying bitcoins going
down it might go to 50,000 I would just
short Bitcoin for a second right now I
don’t know I don’t know where it’s going
over this short I don’t want sort of the
longer you’re on the outside you’re just
kind of looking at you what’s gonna do
I’m not saying I’m not saying you’re
going down I packed my most of the
Indies I said I think it’s going up now
I’m not so sure right now because I like
the insiders now I see I see a classic
pump and dump happening right now where
they’re already on the dump or Bitcoin
going into the next would use big cash
right so I see that happening so let’s
see you know if so the only way Bitcoin
is going up is if someone’s got an axe
but there are people out there
it’ll go higher otherwise it’s gonna it
could it could be close to the end
remember this you know with tulip mania
the beginning of the end was where they
started trading futures in tulips that
was it once they saw a chase it over six
months later right so people look at
this thing Trading futures yeah it’s
legitimate though it’s not people under
the chain with jimmies are no more the
credit for thoughts was listen like so
this is it’s a complete joke I don’t I
don’t for a fact I just no I I just hey
I got nothing is guaranteed life okay I
have never been more sure of something
okay that is really really barely the
people it’s great I’m not saying don’t
invest in it now but be really really
careful make sure that you have a way
out really quickly okay don’t put any
more than you can afford to lose and
just realize that you are on the outside
looking in of people who are on the
inside who have a plan you don’t know
about and all you’re doing is trying to
guess when they’re gonna screw you my
concern is these guys are putting 50 60
70 percent their savings into and
thinking this is their way out like
here’s I’m gonna become a detonation of
the unite and they might very well might
become one if they can figure out when
to get out the point is is that you know
you know Bulls big money Bears make
money pigs get slaughtered right and the
question is is when are you gonna get
out you know and cuz at a certain point
again you know a time the music to stop
playing there’s not that meat up chance
everybody yeah in fact they’ll be very
few chairs at all might be one chair and
everyone else idiots here’s the thing
when this thing really goes if it’s at
30,000 it’s not going with 30,000 to
29,000 228 is still from 30,000 to one
that’s right in with one trade it’ll
just stop trading it’ll open up it’s at
[Music]
yeah the most important work ever if you
had to think of one word that’s most
important to you or that sums you Apple
that would be like a little beacon pay
believe nation if you want to know what
the most important one word is for Tony
Robbins Gary Vaynerchuk Oprah Winfrey
will.i.am and Howard Schultz I have a
very special secret video for you check
the description for details [Music]