CNBC Bitcoin Today: Chaos ERUPTS! Bitcoin Price to 150k?

I said 75 what what did you say to me I I think it's you know could be as high As 150,000 this year so double what I Thought was yeah 150,000 so we're Tripling at this point considering a Store value Orest that goes up store value would Stay one price no no like gold was $300 Chaos erupted on the set of CNBC today After host Andrew sorin asks investment Manager Tom Lee his bitcoin price Prediction I've never seen a CNBC host Try to control the conversation like This look at Andrew sorin's face but in The history of the world in the history Of the world right if 99% of the Nefarious activities were were using Dollars why don't you have the same Negative Viewpoint towards a dollar it Has a great utility in the same way the Car has a great utility well you don't Know you don't because you don't Appreciate the utility of Bitcoin Doesn't mean that other people don't Appreciate it the only people right now That appreciate the the true that's not True I I don't appreciate it because I'm Using it for ransomware I appreciate it Because it's a store value I don't store Value Or that goes up if we store value it Would stay one price no no like gold was $300 what is his face say what does his Face say it's almost like he's telling

His fellow co-host don't promote this Watch yourself friend you know we can't Promote Bitcoin but why not why not why Is so much of the mainstream media so Adverse to bitcoin black Rock's in Fidelity's in Bitcoin is being Recognized as a global asset class Around the world Bitcoin Supply flow is About to be cut in half Bitcoin could be At 75,000 this year Bitcoin could get as High as 150,000 this year the investment thesis Is obvious listen I said 75 what what Did you say to me I I think it's you Know could be as high as 150,000 this Year so double what I thought was 150,000 so we're trip at this point yeah Because you've got demand improving with The ETF and you have the supply Shrinking with the havening and if Monetary policy eases which we expect You know that's supportive of risk Assets and bitcoin's holding up I mean That's another reason why I don't think A draw down is going to start that soon I mean bitcoin's been rallying last Couple weeks guess what 75,000 bitcoin Price to 150,000 bitcoin price is only The price outlook for this year most People do not realize the implications Of a limited Supply asset and a Global Network that the bigger it gets the more Useful it becomes like this is really The price point that so many are waiting

For I don't know anymore and are you in Hold let me just go back are you in the Camp of this is like a $500,000 Valued over over five years are you yeah It is sound money um and I think it's Proving to be useful and proving to be Useful how did you hear that insane CNBC Anchor Andrew sorin pretends like he Doesn't understand the utility and the Value prop of Bitcoin oh let's explain It to him again proving to be useful how Well it's very useful if you're an Investor right now yes it's been a great Store value uh it's been a good risk Asset it's also incredibly secure you Know there hasn't been a single Fraudulent entry on the blockchain since Inception I don't think any bank can say That's true of their p&l and accounting You know 6% of banking transactions are Suspicious 0% on the Bitcoin what did Gendler say the other day that he trusts The Oracle database more than the the Blockchain the thing distributed Ledger Does that that was bizarre wasn't it That's that's why people think it has in You trust it more than an Oracle Database or you trust it more trust more Than a lot a lot the the Bitcoin bull Say they trusted a lot more than than The central bank that that enables the The fiscal authorities to spend money to The tune of $33

Trillion that's that's everybody's Investment Choice Yep this isn't the First time that all hell has broken Loose on the set of CNBC just a week or So ago Gary Gensler was on and it was a Fight how many times do you have people On this show that say I want to invest In something because how the books and Records are kept I mean Joe really it's Just an accounting Ledger a Clever That everyone has and can't be dou Counted it it's almost immutable this is How much has been money laundered with Bitcoin this is how much this is Bitcoin This is do this is dollar you're so Smart you're at MIT and people listen to Your what you think about Bitcoin and it It is troublesome to some to me if I if I look at it and I see all the merits of It and someone that taught about it and Understands it seems to have an opinion That maybe it's I don't know pet rockish Or something thing real quick my friends Cryptocurrency taxes do not have to be Scary pay your taxes and you can get Your taxes done in minutes through our Partner coin Ledger use our link below To create a free account and get your Crypto taxes done this is the Turbo Tax Of crypto I've used this this is Completely free to use you do not pay Upfront you only pay at the end when you Want to download your tax report it's so

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Time again look at this despite what you What you said about sort of how how good The blockchain is to be able to find Where things are it is the media of Choice For ransomware I mean just you go Through the list of sort of terrible Terrible illegal Behavior people in that World seem to love Bitcoin what does That say about this well Pirates were The first people that like gold so we Knew gold was a good store of value but I think equally important you know the Dollar is used in more illicit Activities 9 we talked about obviously 99.9 and and made that point before but I you don't so you you ascribe nothing To the idea that Bitcoin is a beloved uh Currency for those who are trying to do Nefarious things well here's a way to Think of It criminals don't trust anybody but They trust Bitcoin and so if you want to Say what is a trusted asset it's really What would be the least trustworthy Cod Understand that they are trying to scare You away because I'm sure when Bitcoin Breaks all-time highs and all of their Buddies have bought in CNBC will be Changing their tune but for now this is What we get at least they still have Tom Le on at least Joe kernin is pushing Back on the BS look at this look at this Chaos this is like saying you follow the

Technology that starts with PN right no I I think because because That's I think it's like I remember like Videotapes and this that it's like Blaming the object itself for for the Nefarious behavior when it's the humans That are that are using that I mean Would can you imagine the World of Pain Management without strong pain medicine Look what happens when you abuse the Pain med but can you imagine it with With it's it depend and I've even Used you take a a car or a truck and I Can go run a car into a parade and and Run over you know 40 people that doesn't Mean like we shouldn't have cars does it No no no you you should have cars no of Course but some no but but this is the This is the difference and I will I will Take Gary gendler's side on this Particular description of the situation Yeah a car has Immense value to society economic value To society there's a utility but why Does There you could argue that a strong Tylenol actually has a hisory of world In the history of the world right if 99% of the nefarious activities were Were using dollars why don't you have The same negative Viewpoint towards a Dollar it has a great utility in the Same way the car has a great utility Well you don't know you don't because

You don't appreciate the utility of Bitcoin doesn't mean that other people Don't appreciate it the only people Right now that appreciate the the no That's not true that's not true I I Don't appreciate it because I'm using it For ransomware I appreciate it because It's a store value I don't a store value Or a store value that goes out if we Store value it would stay one price no No like gold was $300 Not too long ago it's now $2,000 it Doesn't stay at the same price it goes Up as you print more money it's more of A speculative um investment no I don't Think that's I don't think that's like Michael it turned out to be a great Investment for those who are investing In it I'm not saying it's a bad Investment I'm just saying long term if We're all sitting around this table now Explain how it's it's sound money it's Sound I it's not that I don't understand Conceptually what's what's going on why Do you say that it has no use then other Than Aeris uses no no no I think the use Case is as a speculative tool as a way Potentially even to hedge against other Things if you think that it's correlated Or non-correlated to other things that Is the use case that's the utility seems Like CNBC wanted to get out of that Segment kind of quick look guys the Value prop is simple as Bitcoin Supply

Flow gets cut in half as the strength And utility of the network only Increases more and more demand is Stepping up more and more demand is Rolling in Mike novag Gratz explains This I think the big story is we've now Opened up the institutional really the The raia community right $45 trillion Dollar of wealth are managed by Brokers And you know we've got baby boomers who Own most of the wealth in America and They're getting their first easy access To bitcoin and you're seeing it through These ETFs the massive growth in a very Short period of time uh in this whole F Complex um and I don't think that's Going to stop right last night we had $135 million of inflows after you that's Slow down from 400 400 350 uh Paul tutor Jones taught me early On in my career that prices get set on The margin right and so we've got more Buyers than sellers prices go up and I See a kind of a constant these are Hodlers as well right these are guys That are buying put it in their Portfolio and hold they're not Traders And so the ETF buyers in general that Are coming through these Raa Channels um I think are taking Supply Off the market so I still see Bitcoin Ending the year a lot higher that said Could we consolidate around here for a Little while of course we could how how

Many advisors can actually recommend Recommend Bitcoin as a product today Versus how many will be able to do that In 6 months from now I don't have a Perfect answer but I would tell you at Least double in six months right there Are big channels that still aren't Turned on that we know they're going to Get turned on right we're in Conversations with them these are the Big Platforms uh and like there's an Inevitability to it why because their Customers are calling and and bitching At them and saying we want to buy Bitcoin with you and so then the sales Guys who get paid for selling stuff are Screaming at their bosses and so I'm Certain it's going to happen like this Is not it might happen it is going to Happen it just takes time these Organizations are very conservative uh In general and you know crypto scared The heck out of people 18 months ago and So there's still Scar Tissue you know It's surprising that we have a a you Know approved you know us sanction Bitcoin ETF and it's still very Difficult for a lot of crypto companies Just to get banking services in the US So Mike nrat is the poster boy for Wall Street turned crypto let's see what Mike Thinks about Tom Le's price prediction So Tom Le was on the broadcast earlier

This morning and said that he thinks This could be at $150,000 of Bitcoin by The end of the year what do you Think you know when markets get new Buyers and start breaking out uh it's Hard to have a price prediction I I do Think we will test the old highs you Know with in a relatively short period Of time and if you take out 69,000 Usually you don't go right through the First time you'll touch them and you'll Come all the way Back and you'll be mad you didn't sell Something and and then it takes off Again but once you break 69,000 listen It could measure to 150,000 right 125,000 again what would have to happen The FED finally pivots and starts Cutting rates right uh we continue to Have fiscal irresponsibility go back for A second how correlated do you think That I mean you just you it's funny you Said that because there there's a lot of Folks who think this is correlated to What the FED is doing but then there Have been periods of time where it has Seemed completely Unrelated yeah listen there's there's Two stories with Bitcoin that always Happen one it's a macro asset and the Second we're early on in the the the the Life cycle so there's an adoption cycle Right right now this is all adoption This is new buyers coming in and being

Told the big picture story that you need To have this in your portfolio because We've got fiscal irresponsibility that's Not going away and this is a hard asset And more and more people are believing You know despite Jamie Diamond despite Elizabeth Warren that this is a hard Asset and so that that's what's driving It now but it's still a macro asset well Luckily CNBC still has good guests and Of course there's Joe kernin who always Gives a fair shake for Bitcoin guys this Is why our Channel exists to give you The info that the mainstream media does Not cover and if they do they never give You that much perspective guys subscribe To the channel join our team Bitcoin is The future cryptocurrency is the future And you know there's a lot of altcoin Projects I'm bullish on we share those With you all the time gonna have some Top altcoin videos coming out soon so Join the team guys subscribe and I'll See you tomorrow it's going to be a Great year